New York, Feb 9, 2026, 09:26 EST — Premarket
- Palantir shares hovered near Friday’s close in premarket action, showing little movement.
- Software stocks swung as investors tried to gauge if emerging AI tools might pressure margins.
- This week, traders are eyeing the delayed U.S. jobs report alongside CPI numbers, looking for the next move in rates and tech.
Palantir Technologies Inc hovered near $135.90 in premarket action Monday, not far off where it finished Friday after notching a 4.5% gain. Early trading saw shares moving between $135.51 and $139.00, with volume at approximately 1.5 million ahead of the open.
Software stocks barely budged, still jittery after a recent selloff rekindled an old debate: could faster, cheaper AI tools cut into what these firms can charge for routine tasks? Over the past three months, the S&P software and services group has trailed the broader S&P 500 by almost 24 percentage points. Options traders, according to Reuters, haven’t stopped betting on turbulence. Implied volatility on the iShares Expanded Tech-Software Sector ETF hovered at roughly 41% for 30 days. Short interest, a sign of bearish wagers, sat close to record highs, Reuters noted. 1
Broader markets weren’t much of a tailwind. U.S. stock-index futures suggested a flat start, with investors holding out for new economic numbers following last week’s wild tech-led swings and hefty AI investment announcements from major players. “The rebound didn’t feel like the beginning of a sustainable reversal,” said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Nvidia’s earnings, due later this month, are shaping up as another key moment for the AI trade, according to Reuters. 2
Palantir ran into more political scrutiny in the UK after The Times said the firm is organizing a Mayfair gathering for Ministry of Defence personnel. The move follows its £241 million, three-year defence AI contract—awarded without a competitive process—which triggered scrutiny over its relationship with lobbying group Global Counsel. Defence Secretary John Healey told the newspaper Palantir got the deal because of its “unique capabilities.” 3
The Financial Times reported that UK Prime Minister Keir Starmer is under scrutiny for a February 2025 visit to Palantir’s Washington office. He was accompanied by Peter Mandelson and Britain’s ambassador to the United States, just before the no-bid contract. Downing Street called it an informal meeting, according to the paper. 4
Palantir develops data-analysis tools for both government agencies and corporate clients, such as its Gotham and Foundry platforms, plus its Artificial Intelligence Platform, Reuters company data show. 5
Investors are watching the macro backdrop here. Palantir trades in line with tech and high-growth software names, its shares often shifting alongside rate expectations—even in the absence of any fresh headlines from the company.
The risk is obvious: stronger economic numbers lifting bond yields, or the AI “competition” theme catching on across software, could knock stocks like Palantir down quickly on pure valuation. Political noise around its government contracts? That just keeps the chance of a sharper reset alive.
Investors have their eyes on a couple of dates: The Bureau of Labor Statistics has set the rescheduled January Employment Situation report for 8:30 a.m. ET on Feb. 11, with January’s Consumer Price Index following at 8:30 a.m. ET on Feb. 13—both pushed back after this year’s appropriations lapse. 6
