Stock Market News·2026-02-05 22:07Market Overview - U.S. equities faced a challenging day on February 5, 2026, with significant sell-offs in technology stocks and negative job market reports impacting investor sentiment [1] - The S&P 500 fell 1.2% to close at 6,798.40, marking its sixth decline in seven trading days since reaching an all-time high [2] - The Nasdaq Composite dropped 1.6% to 22,540.59, while the Dow Jones Industrial Average decreased by 1.2% to 48,908.72 [2] - Bitcoin prices fell below $64,000, reaching their lowest level since October 2024, further exacerbating the downturn [2] Major Market Movers and Corporate News - Alphabet (GOOGL) saw a decline of 0.8% despite stronger-than-expected sales, as investors were concerned about projected capital expenditures for AI infrastructure, estimated at $175 billion to $185 billion for 2026, nearly double the $91.45 billion spent in 2025 [3] - Qualcomm (QCOM) experienced an 8.5% drop due to a disappointing outlook, citing a tightening global memory shortage affecting the smartphone market [4] - Advanced Micro Devices (AMD) fell sharply by 17.3% on a weak outlook, contributing to the semiconductor sector's struggles [4] - Uber Technologies (UBER) declined by 5.2% after missing earnings expectations, while Amgen (AMGN) surged 8.2% on positive earnings results [5] - Eli Lilly (LLY) jumped 10.3% due to strong sales of its drugs, and McKesson (MCK) soared 16.5% after exceeding profit and revenue expectations [5] - Peloton Interactive (PTON) plummeted 28% after reporting weaker-than-expected results, while Estee Lauder (EL) and Snap (SNAP) retreated by 19% and 12%, respectively [6] Job Market Developments - Amazon (AMZN) announced plans to cut approximately 16,000 corporate roles, while UPS revealed 30,000 job cuts [7] - Dow (DOW) reduced its workforce by 4,500 jobs, with Home Depot (HD) and Nike (NKE) also making cuts [7] Economic Indicators - Initial jobless claims for the week ending January 31 rose to 231,000, exceeding economists' estimates [9] - U.S. employers announced over 108,000 layoffs in January, the highest for that month since 2009, with job openings falling to 6.5 million in December, the lowest since 2020 [9] - The Consumer Price Index rose 2.7% over the year in December, indicating persistent inflation despite potential interest rate cuts by the Federal Reserve [10] Upcoming Market Events - Investors are awaiting the release of January U.S. Non-Farm Payrolls, Unemployment Rate, and Average Hourly Earnings data on February 6, which will provide further insights into the labor market [8]