New York, Feb 6, 2026, 06:28 (EST) — Premarket
- SPDR S&P 500 ETF (SPY) down 1.2% in premarket; tech-heavy QQQ off 1.4%
- January jobs report delayed by the shutdown; revised release dates fall next week
- Friday’s docket: Michigan sentiment at 10 a.m. ET; Fed’s Jefferson at noon; consumer credit at 3 p.m.
U.S. stocks were lower in premarket trade on Friday as investors faced an unusual “jobs Friday” without the U.S. jobs report, after a short government shutdown pushed the release back. The SPDR S&P 500 ETF fell 1.2% to $677.62, while the Invesco QQQ Trust slid 1.4% to $597.03. (Reuters)
That matters because the monthly nonfarm payrolls report — a count of jobs added outside farming — often resets expectations for Federal Reserve policy and bond yields. With markets already jittery about growth and inflation, the missing data leaves traders leaning harder on smaller releases and Fed speakers.
The Bureau of Labor Statistics has rescheduled January’s employment report for Wednesday, Feb. 11, and pushed the January consumer price index report to Friday, Feb. 13, after the shutdown disrupted operations. (MarketWatch)
At 10 a.m. ET, the University of Michigan is set to publish its preliminary February consumer sentiment survey. In the January final release, surveys director Joanne Hsu said sentiment improved but remained “more than 20% below a year ago” as households cited high prices and the prospect of weaker labor markets; year-ahead inflation expectations dipped to 4.0% while long-run expectations edged up to 3.3%, the survey showed. (UMich ISR)
At noon, Fed Vice Chair Philip Jefferson is due to speak at the Brookings Institution, and the Federal Reserve will release its consumer credit report at 3 p.m. ET, according to the Fed’s calendar. (Federal Reserve)
Rate-cut bets have started to stir again. Futures markets priced about a 22.7% chance of a quarter-point cut at the Fed’s March meeting, up from 9.4% a day earlier, according to CME’s FedWatch tool, after fresh signs of labour-market strain. Amazon slid 15% in after-hours trading after projecting a surge in capital spending, adding to the sour mood in big tech. (Reuters)
One of those strain signals came Thursday, when Challenger, Gray & Christmas reported announced layoffs jumped 205% in January to 108,435, the highest for the month in 17 years. “It means most of these plans were set at the end of 2025,” workplace expert Andy Challenger said, adding the total signalled employers were “less-than-optimistic” about the 2026 outlook. (Reuters)
Stocks have also been wrestling with an AI-driven shakeout in heavyweight technology names and a rotation into more defensive corners of the market. “Rotation is the dominant theme this year,” said Angelo Kourkafas, senior global investment strategist at Edward Jones, in a Reuters report. (Reuters)
But Friday’s smaller slate may not settle nerves. A weak sentiment reading, an uptick in inflation expectations, or a hawkish tone from Fed speakers could keep pressure on risk assets before the bigger numbers arrive.
Beyond next week’s rescheduled jobs and inflation releases, traders also have the Fed’s March 17-18 policy meeting on the horizon, one of the sessions tied to updated economic projections. (Federal Reserve)
