New York, Feb 9, 2026, 06:47 (EST) — Premarket
- U.S. index futures barely budged early Monday, with little on the day’s calendar and bigger data looming later in the week.
- Late morning brings Treasury buyback specifics and bill auction results, while Fed’s Waller and Miran are set to deliver remarks in the afternoon.
- Wednesday brings the delayed January jobs report; Friday, CPI lands. Both reports—key markers for rate-cut speculation.
Futures for U.S. stocks held mostly steady early Monday, with the market eyeing two key pieces of economic data: the January jobs numbers out Wednesday — delayed from last week — and Friday’s consumer price index release. Both could help shape the Fed’s rate path. As of 4:52 a.m. EST, Dow E-minis edged up 46 points, or 0.09%. S&P 500 E-minis were off by 4 points, and Nasdaq 100 E-minis slipped 50.25 points. CME Group’s FedWatch tool showed markets still betting on a first rate cut in June. Earnings to watch before the bell: Kyndryl, Becton Dickinson, Apollo Global Management, and Loews. 1
Beneath the surface, traders haven’t forgotten last week’s tech rout—fresh anxiety about AI’s cost and the impact of rapid-fire tools on software profits still lingers. Over the last three months, the software and services sector has stumbled, trailing the S&P 500 by almost 24 percentage points. That’s close to the worst underperformance it’s seen in decades. One spark: Anthropic’s Claude introduced a new legal tool, stirring doubts about the durability of old-school software models. Options trading reflects the unease. Implied volatility for the iShares Expanded Tech-Software Sector ETF is holding near 41%, not far off recent peaks and suggesting risk remains front of mind. 2
Not much in the way of major data on Monday’s U.S. calendar, so attention shifts to rate chatter and government moves. Treasury plans to post its draft list of securities for Tuesday’s buyback at 11 a.m. EST, then lines up 3- and 6-month bill auctions half an hour later. On the Fed side, Governor Christopher Waller will be on deck at 1:30 p.m. EST, followed by Governor Stephen Miran at 2:30 p.m. EST. The bigger numbers arrive Wednesday, with the employment report, and Friday’s CPI, both set for 8:30 a.m. EST. 3
Both reports have a way of jolting bond yields, with the effects rippling right through stocks—especially the corners of the market most exposed to interest rates. If payrolls come in strong or inflation runs hotter than forecast, investors usually brace for the prospect of rates staying elevated. That scenario makes it tougher for high-growth firms to defend their current price tags.
Premarket action was brisk for drugmakers and telehealth stocks after Hims & Hers scrapped its planned $49 generic weight-loss pill. Shares of Novo Nordisk shot up over 8% in Copenhagen, while Hims plunged 14.8% in U.S. premarket, a swift reaction as traders read recent U.S. regulatory moves as pressure against all compounded GLP-1 drugs. “The FDA is not only declaring war on Hims & Hers’ Wegovy pill, but (compounded) GLP-1s in general,” said AL Sydbank’s Soren Lontoft Hansen. 4
Kroger jumped roughly 6% in premarket trading after the Wall Street Journal reported the company tapped former Walmart executive Greg Foran as its incoming CEO. Evercore ISI’s Michael Montani called Foran someone who “brings instant credibility,” citing his experience at Walmart’s U.S. business. Kroger is contending with sluggish consumer demand and fierce rivals, Walmart among them. 5
Friday’s rally sent the Dow up 1,206.95 points, or 2.47%, settling at 50,115.67 and putting another record in the past. Investors moved money out of megacap tech into the rest of the market. “What’s driven it recently has been the broadening … other than just the tech, AI trade,” said Chuck Carlson, chief executive officer at Horizon Investment Services. 6
The week’s tone could shift quickly. With the shutdown-delayed jobs report on deck, some noise is likely—if wages or inflation print hotter than expected, June rate cut bets could evaporate in a hurry. That scenario tends to hit the more volatile software stocks hardest, sending investors scrambling for cover.
