New York, Feb 6, 2026, 10:06 EST — Regular session
- Dow climbs roughly 1.4% in early trading, rebounding from Thursday’s sharp decline
- Amazon dips amid investor jitters over rising AI-related expenses
- Next week’s U.S. jobs and inflation data might shake up expectations for rate cuts
The Dow Jones Industrial Average climbed 687.55 points, or 1.41%, to 49,596.27 by 9:55 a.m. ET Friday, clawing back some losses after a tech-driven selloff shook U.S. equities this week. Amazon slipped roughly 8.7%, while Nvidia surged over 5%. 1
Thursday saw the Dow drop 592.58 points, or 1.2%, closing at 48,908.72. Investors retreated from risk, weighed down by further declines in tech and crypto-related stocks. 2
The key question is if the AI rally is just pausing or actually faltering. Reuters highlighted investor jitters about an expected $600 billion AI investment surge from Amazon, Microsoft, Google, and Meta. St. James’s Place equity strategist Carlota Estragues Lopez captured the sentiment bluntly: “Is the AI sugar rush over?” 3
U.S. stocks started the day higher, though unease lingered. Amazon tumbled after announcing plans to raise capital expenditures—to boost AI infrastructure and equipment—Reuters reported. The Dow opened up 307.20 points at 49,212.43. 4
Much of the Dow’s initial jump was driven by just a few heavy hitters. Nvidia and JPMorgan alone accounted for about 25% of the index’s intraday climb. Gains from Goldman Sachs, Caterpillar, and Boeing also helped prop it up, according to MarketWatch data. 5
Risk appetite seemed sturdier across markets. The Associated Press noted chipmakers spearheading a rebound, while bitcoin bounced back above $68,000 following a steep drop. Investors, though, remain divided on whether the AI spending surge will deliver results. 6
Leadership appears to be changing within the market. “Rotation is the dominant theme this year,” said Edward Jones strategist Angelo Kourkafas, noting that “the bar of expectations seems to be so high for tech.” Meanwhile, Manulife John Hancock’s Matthew Miskin remarked, “Before it was, AI lifted all ships.” 7
Friday’s rally might not last. Tech stocks still drag down the major U.S. indexes, and any fresh weak guidance or surprising inflation data could quickly flip traders back into selling mode.
Next week will put that rebound to the test. The Labor Department plans to release its Employment Situation report on Feb. 11, followed by the Consumer Price Index on Feb. 13, both at 8:30 a.m. ET. 8
