NEW YORK, Feb 9, 2026, 17:01 EST — After the bell
- The Dow finished 17 points higher, holding above 50,000 after notching a fresh intraday record.
- Tech shares found some footing following last week’s AI-driven software slide, with Oracle climbing after an upgrade.
- Traders are bracing for Wednesday’s U.S. jobs numbers, with Friday’s CPI data also on deck—both set to challenge current rate-cut expectations.
The Dow Jones Industrial Average tacked on 17.12 points, or 0.03%, to close at 50,132.79 on Monday—just enough to keep the index over 50,000, but hardly a big move. The S&P 500 added 0.47%, while the Nasdaq climbed 0.88% as tech stocks regrouped, recovering after last week’s AI-driven software pullback. Oracle rallied following an upgrade from D.A. Davidson. “You’ve a sharply oversold market where a little bit of good news can go a long way,” said Keith Lerner, chief investment officer at Truist Advisory Services. 1
It’s not really about the points—what matters is where things stand now. Investors, rattled by sharp reversals in the trades that fueled the rally, are shifting into lower-priced names and smaller caps. The Dow finished at a record on Friday, but over in software, roughly $1 trillion in value was wiped out this week. “The selloff in the names that carried markets higher may have paused, but we’re instead seeing a wave of aggressive buying of altogether different stocks,” Tim Murray, capital markets strategy at T. Rowe Price, told Reuters. 2
The calendar flips over to a packed stretch now. Nonfarm payrolls drop on Wednesday, postponed along with Friday’s January CPI by the three-day government shutdown that just wrapped up. Both data points land this week. Earnings season is nearly out of steam, but Dow names Coca-Cola, Cisco Systems, and McDonald’s are still on deck to report. According to a Reuters poll, economists are looking for a 70,000 gain in jobs. Traders haven’t shifted much on Fed bets: the next rate cut is still penciled in for June, and two quarter-point moves are priced in by year-end. “Rate expectations have been remarkably stable over the last couple of weeks,” said Angelo Kourkafas, senior global investment strategist at Edward Jones. 3
Choppy trading defined the session. Early on, the Dow slipped around 200 points, led lower by Amgen and Merck, which weighed heavily on the index. Later, though, the Dow clawed its way back, eventually edging into positive territory. Because the Dow is price-weighted, movement in higher-priced stocks packs more punch—MarketWatch calculates that a $1 swing in any component moves the index by roughly 6.16 points. 4
Software stocks are still feeling the heat after last week’s tumble, when doubts emerged about whether rapidly-evolving AI could start eating into established software business models. Options activity is reflecting those nerves: 30-day implied volatility for the iShares Expanded Tech-Software Sector ETF sits at about 41%—hardly budging from last week’s 10-month peak of 45%. And according to Ortex Technologies, short interest is holding up at 19%, just shy of a record. Those readings point to unease about whether the turmoil has actually run its course. 5
This split has told the tale so far: funds chasing value and cyclicals, while any sign of weakness in the AI trade keeps the rest of the market on edge. The Dow, with its industrials, banks, and consumer stocks, has managed to stay firmer even as software and mega-cap tech names lurch around.
Still, calm doesn’t always last. Any hotter-than-expected inflation number or a jobs shock might send bond yields climbing, making traders reassess how fast the Fed can move on cuts—usually, that weighs on stocks. If software shares tumble again, that could sap risk appetite even further.
Eyes turn to Wednesday’s payrolls and Friday’s CPI—straightforward enough. The question hanging in the air: can the Dow hold above 50,000 as those figures hit?
