The U.S. stock market kicked off the week with a surge, as technology shares led a broad rally that saw the Dow Jones Industrial Average close above the 50,000 mark for the second consecutive session. Investors appeared cautiously optimistic, even as they braced for a slew of pivotal economic data and corporate earnings reports set to hit later in the week.
On Monday, February 9, 2026, the Nasdaq Composite rallied 0.9%, closing at 23,238.67, while the S&P 500 advanced 0.47% to finish at 6,964.82, according to reporting from Barron's and CNBC. The Dow Jones Industrial Average eked out a 20.20-point gain, ending at a record 50,135.87. That modest climb was enough to notch both a new all-time intraday high and a closing record, underscoring the blue-chip index’s resilience after a volatile stretch.
It was tech stocks that stole the spotlight. Shares of Nvidia and Broadcom extended their recent rallies, rising 2.5% and 3.3% respectively, while Oracle soared 9.6% after D.A. Davidson upgraded its rating to "buy" from "neutral"—a move attributed to growing optimism around OpenAI and its beneficiaries. Microsoft also joined the upward momentum, further propelling the sector’s gains. Meanwhile, artificial intelligence stock Monday.com (MNDY) bucked the trend, plunging sharply even as its peers climbed.
“As we know, there’s been plenty of discussion around rotation helping the S&P 500 stay afloat, with leadership frequently shifting as growth sectors carried the load,” Frank Cappelleri, founder of technical analysis firm CappThesis, told Barron's. “Rotation, of course, goes both ways.” Cappelleri suggested that if money continues to flow back into technology for more than just a day or two, the S&P 500 could soon break above the 7,000 level, extending the rally beyond the marginal breakout attempts seen so far.
This optimism comes on the heels of a dramatic rebound last Friday, when the major averages bounced back from earlier losses—losses triggered by a sudden sell-off in tech, particularly among software stocks. That same session saw the Dow break through 50,000 for the first time in its history, a milestone that many market watchers greeted as a symbolic victory after a turbulent week. Bitcoin, meanwhile, experienced its own rollercoaster, plunging before recovering somewhat as investors adopted a risk-off stance.
“Investors are saying, ‘Okay, we had a tremendous bounce back. Does that have staying power? Is this something that I could get sucked into and only end up getting trounced, or is this really another buying opportunity?’” said Sam Stovall, chief investment strategist at CFRA Research, as quoted by CNBC. Stovall noted that the forward price-to-earnings ratio for tech stocks had shifted dramatically: “We went from a 17% premium to an 8% discount,” he said, referencing the sector’s valuation compared to its five-year average. “You could say, ‘Well, gee, that’s pretty good, and so maybe it’s time not to bail out on technology just yet.’”
Still, the mood was tinged with caution. The market’s recent rotation out of tech could easily reappear, depending on how the week’s earnings and data releases play out. Investors have their eyes on upcoming reports from Coca-Cola and Ford Motor, both slated for Tuesday, February 10. The anticipation is heightened by the memory of last week’s volatility, when even the most reliable stocks seemed to wobble.
Adding to the uncertainty, several critical pieces of economic data were scheduled for release. The December retail sales numbers were expected Tuesday, followed by the delayed January nonfarm payrolls report from the Bureau of Labor Statistics on Wednesday. That jobs report, initially set for last Friday, was postponed due to a partial government shutdown. The delay added a layer of suspense, especially after ADP reported that private payrolls had increased by only 22,000 in January—well below expectations. Economists polled by Dow Jones anticipate the official jobs report will show a gain of 55,000, but the lower ADP figure set the stage for possible surprises.
Friday will bring the January consumer price index (CPI) reading, another data point delayed by the government shutdown. The consensus among economists is for a 2.5% annual inflation rate, a figure that will be scrutinized for clues about the Federal Reserve’s next moves. All eyes are on whether inflation remains contained or shows signs of reigniting, potentially altering the Fed’s policy trajectory and, by extension, the market’s mood.
Meanwhile, the broader market rally wasn’t confined to just a handful of tech giants. The blue-chip Dow’s climb was described by Investors Business Daily as a “broad stock rally,” with Cathie Wood, the prominent investment manager, making headlines by snapping up a Warren Buffett holding amid a remarkable 145% run. Such moves highlight the market’s appetite for both established winners and bold bets, even as some investors remain wary of getting caught on the wrong side of a sudden reversal.
Monday.com’s plunge, in contrast to the upward momentum of its AI peers, served as a reminder that not all tech names are moving in lockstep. The sector’s volatility, especially among companies tied to artificial intelligence and cloud computing, has led some analysts to warn that the next rotation—whether into or out of tech—could be swift and punishing.
Despite these crosscurrents, the prevailing sentiment was one of cautious optimism. The S&P 500, for example, was at one point on track for a fresh closing high on Monday, and technical analysts suggested that further inflows into technology stocks could push the index above the psychologically significant 7,000 mark. Whether that happens will likely depend on how investors interpret the week’s deluge of data and earnings.
As the week unfolds, the market’s resilience will be tested by both numbers and narratives. Investors are weighing the promise of artificial intelligence and tech innovation against the realities of economic headwinds, government shutdowns, and unpredictable earnings. For now, the rally continues—but as recent history has shown, fortunes can shift in a heartbeat.
With the major indexes at or near record highs and technology stocks once again in the driver’s seat, Wall Street’s attention is fixed on the next round of data and the ever-present question: Is this the beginning of a sustained tech comeback, or just another chapter in a volatile market saga?