New York, Feb 7, 2026, 05:37 (EST) — Market is shut
- Corning finished Friday at a record, ending the session up 8.3% at $122.16.
- AI infrastructure stocks are still drawing attention, sending the shares up roughly 11% in just two sessions.
- Traders are eyeing next week’s U.S. jobs and inflation reports, which could jolt risk sentiment and shift views on interest rates.
Corning Incorporated (GLW) surged 8.3% to finish Friday at $122.16, setting a new all-time closing high as bets on artificial intelligence (AI) infrastructure continued to drive interest. The stock hit an intraday range of $113.33 to $122.56, then edged up another 0.6% in after-hours trading.
U.S. markets are closed for the weekend, but attention turns to Monday to see if the rally sticks in a market that’s seesawed between tech and other sectors. “Rotation is the dominant theme this year,” said Angelo Kourkafas, senior global investment strategist at Edward Jones. reuters.com
Friday’s rebound saw the Dow closing above 50,000 for the first time ever, while chip stocks surged as investors bet that Big Tech will continue pouring money into AI data centers, Reuters said. “There’s real demand for AI products,” Baird investment strategy analyst Ross Mayfield told the outlet. reuters.com
Corning found itself at the center of the spending debate after landing a deal with Meta Platforms in late January. The two companies agreed to a contract that could reach $6 billion, supplying Meta’s U.S. data centers with optical fiber, cable, and connectivity gear. “Together with Meta, we’re strengthening domestic supply chains and helping ensure that advanced data centers are built using U.S. innovation,” said Corning CEO Wendell Weeks. reuters.com
Corning, best known for its Gorilla Glass in consumer gadgets, projected core sales between $4.2 billion and $4.3 billion for the first quarter, with core earnings in the 66 to 70 cents per share range, according to its Jan. 28 statement. The company, which defines core results as figures adjusted to exclude certain items, also raised its growth targets under the Springboard plan.
Corning’s stock hasn’t had an easy ride. Shares dropped over 4% following the results, despite the company beating forecasts. William Kerwin at Morningstar attributed the muted reaction to the Meta deal already being “probably baked in.” reuters.com
Corning shares tacked on 2.83% Thursday, MarketWatch data showed, bucking the drop in major indexes—the S&P 500 lost 1.23% and the Dow shed 1.20%. Around 9.9 million Corning shares changed hands.
Chief Operating Officer Avery H. Nelson III sold off 1,894 shares at $109.69 each, according to a Friday regulatory filing, with the sale linked to tax withholding from vested awards. Following the move, Nelson’s direct stake stood at 66,050 shares, the filing said.
The AI trade hasn’t exactly been steady, with suppliers often whipsawed whenever investors start doubting how fast Big Tech’s aggressive spending turns into actual profit. “We’re seeing this volatility about whether this investment will translate … into results,” said Tom Hainlin, investment strategist at U.S. Bank Wealth Management. reuters.com
Next week’s lineup may prove pivotal. The Bureau of Labor Statistics is dropping the January jobs data on Wednesday, with January’s CPI numbers to follow on Friday, both rescheduled due to a short-lived government shutdown.
Corning shares face a pivotal moment that Friday, with January’s CPI landing Feb. 13 at 8:30 a.m. Eastern. Any unexpected twist in the numbers could jolt interest-rate bets, putting GLW’s record close to the test.
