Stock Market 3 February 2026

Tesla shares rose 1.14% to $405.05, outperforming a declining Nasdaq as investors focused on the company’s robotaxi strategy and speculation about closer ties among Elon Musk’s businesses. Marvell Technology ended its first day in the S&P 500 down 0.9% at $307.86, though the stock remains up over 260% for the year due to strong demand for AI infrastructure, with investors weighing index-fund buying against high valuations. Apple slipped 0.3% to $297.01 but outperformed the Nasdaq and most large tech peers, maintaining a 2% gain over the past five sessions. Nvidia dropped 0.97% to $208.65, contributing to the Nasdaq’s 1.3% decline, while the S&P 500 fell 0.4% and the Dow gained 0.3%. SpaceX shares fell 16.43% to $154.60, still above their IPO price, as the company began its first bond sale aiming to raise at least $20 billion, with the deal bringing in $85.7 billion. Chipotle Mexican Grill fell 6% to $30.54, underperforming the broader restaurant sector in the first session after the Juneteenth holiday. Snap closed at $4.63, about 19% below its June 15 level, with the market watching its capital discipline and remaining $400 million buyback authorization. Joby Aviation dropped 1.4% to $9.86 amid renewed focus on lawsuits involving air-taxi makers and the lack of full FAA certification, as well as the Russell index reconstitution. Coherent neared a 52-week high, driven by a $50 million CHIPS letter and increased attention on U.S. indium phosphide capacity amid China’s stricter indium controls. UiPath traded down 1.2% at $10.15 ahead of its annual meeting, with investors watching recurring-contract growth and buyback capacity. Alphabet fell 5.5%-6%, dragging down the Nasdaq and S&P 500, while Meta, Amazon, and Microsoft also declined due to concerns about AI spending and valuations.