Stocks were mixed last week, with strong gains on Monday and Friday offsetting midweek selling pressure as investors worked through earnings results from more than 100 S&P 500 companies. Leadership rotated sharply, with the Dow standing out despite weakness in technology stocks.

Key Takeaways

The Dow pushed above 50,000 for the first time, even as technology stocks lagged
Earnings-driven rotation pulled capital away from tech and into cyclical sectors
Midweek job data added uncertainty around the pace of labor market growth
A late-week rebound suggested investors were willing to step in after pullbacks

Source: YCharts.com, February 7, 2026. Weekly performance is measured from Monday, February 2, to Friday, February 6.

Market Performance Snapshot

The S&P 500 Index slipped 0.10% for the week, while the Nasdaq Composite declined 1.84%. In contrast, the Dow Jones Industrial Average rose 2.50%. Developed international stocks posted modest gains, with the MSCI EAFE Index up 0.49%.

Market performance reflected sharp swings beneath the surface as leadership narrowed and sector rotation intensified.

Dow Strength Offsets Tech Weakness

Markets started the week on a strong note, led by the Dow Industrials, as investors positioned ahead of a heavy slate of fourth-quarter earnings reports. Gains were broad on Monday, reflecting optimism that corporate results would support continued economic expansion.

That tone shifted quickly on Tuesday as investors rotated out of technology stocks and into more cyclical areas of the market viewed as better positioned for an improving economic backdrop. Selling pressure intensified midweek after data showed private-sector job growth slowed in January, followed by additional declines on Thursday that briefly pushed the S&P 500 into negative territory for the year.

Jobs Data and a Late-Week Rebound

Markets stabilized and rebounded on Friday as investors appeared to step in after several days of losses. The Dow led the rally, closing above the 50,000 level for the first time. The Nasdaq moved back above 23,000, while the S&P 500 gained roughly 2% on the day.

Consumer sentiment also improved. The latest University of Michigan survey showed sentiment rising to its highest level in six months, helping support the late-week recovery.

Attention also remained on the labor market. The recent government shutdown delayed several economic releases, including the January employment report, now scheduled for midweek. Other labor data painted a mixed picture, with private payroll growth coming in below expectations and announced layoffs reaching their highest January level since 2009.

Investors continued to weigh these signals against the Federal Reserve’s January statement, which acknowledged solid economic activity alongside slower job gains and still-elevated inflation.

This Week: Key Economic Data

Monday
Atlanta Fed President Raphael Bostic and Fed Governors Christopher Waller and Stephen Miran speak

Tuesday
NFIB Small Business Optimism Index
Retail Sales* (December)
Import Prices* (December)
Employment Cost Index (Q4)
Business Inventories* (November)
Fed Presidents Beth Hammack (Cleveland) and Lorie Logan (Dallas) speak

Wednesday
Employment Report
Federal Budget

Thursday
Weekly Jobless Claims
Existing Home Sales (January)
Fed Governor Stephen Miran speaks

Friday
Consumer Price Index (CPI)

* Report publication delayed by the government shutdown

This Week: Companies Reporting Earnings

Tuesday
The Coca-Cola Company (KO)
Gilead Sciences, Inc. (GILD)
S&P Global Inc. (SPGI)
Welltower Inc. (WELL)
CVS Health Corporation (CVS)
Duke Energy Corporation (DUK)
Spotify Technology (SPOT)

Wednesday
Cisco Systems, Inc. (CSCO)
McDonald’s Corporation (MCD)
T-Mobile US, Inc. (TMUS)
Shopify Inc. (SHOP)
AppLovin Corporation (APP)

Thursday
Applied Materials, Inc. (AMAT)
Arista Networks, Inc. (ANET)
Vertex Pharmaceuticals Incorporated (VRTX)
Brookfield Corporation (BN)

It can be less thick than your finger when it folds, yet as thick as what it carries when it holds. What is it?

Last Week's Riddle: Note this sequence: B, C, D, E, G. What letter should then follow as the sixth letter in this series?
Answer: P, the next rhyming letter in the sequence.

Footnotes And Sources

1. WSJ.com, February 6, 2026
2. Investing.com, February 6, 2026
3. CNBC.com, February 2, 2026
4. CNBC.com, February 4, 2026
5. CNBC.com, February 5, 2026
6. WSJ.com, February 6, 2026
7. CNBC.com, February 4, 2026
8. CNBC.com, February 5, 2026
9. CNBC.com, January 28, 2026
10. IRS.gov, July 8, 2025
11. MedlinePlus.gov, August 26, 2025
12. Investors Business Daily - Econoday economic calendar; February 6, 2026.
13.Zacks, February 6, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities.

This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with Bethesda Wealth Planning Group.

Weekly: Dow Breaks 50,000