After a Sharp Rebound, US Stocks Weaken Again
Wall Street opened lower on Monday (February 9th), as if "catching its breath" after a volatile week, and closed with a historic moment: the Dow finally broke through and held above 50,000. But the euphoria didn't immediately continue—the market opted for a wait-and-see approach ahead of key economic data releases and the next wave of earnings reports.
Early in trading, the Dow fell slightly, the S&P 500 also weakened, and the Nasdaq was the most depressed. The movements weren't large, but they were enough to indicate that investors were remaining cautious: not panic, but more in "don't rush into positions" mode.
On the stock market, Oracle was one of the stars—strengthening after receiving a recommendation upgrade from D.A. Davidson. Optimism surrounding the OpenAI ecosystem and companies perceived to benefit from it also contributed to the market's attention to Oracle. However, some chip and other technology stocks remained under pressure, so the gains were uneven.
The background remains the same: last week the market fell sharply due to a sell-off in technology, particularly software stocks, before finally bouncing back on Friday. This mood swing was also felt in other assets, such as crypto—Bitcoin plummeted, then rebounded, reflecting a market that can easily swing from risk-off to risk-on in a matter of hours.
Last Friday, the Dow surged sharply, closing above 50,000, followed by rallies in the S&P 500 and Nasdaq. Even the software sector ETF (IGV) recorded a strong daily surge after a long period of pressure. But on Monday, the market seemed to be saying, "Calm down"—the rebound has occurred, and investors are now waiting for further evidence from economic data and corporate earnings.
Source: Newsmaker.id
