Dow closes above 50,000 for the first time in Wall Street comeback
Proactive
Fri, February 6, 2026 at 4:23 PM EST
9 min read
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4:20pm: Dow hits historic 50,000 close
Wall Street wrapped up the week with a bang on Friday, led by a milestone moment for the Dow.
The Dow Jones Industrial Average surged 1,207 points, or 2.5%, to close at 50,115, finishing above 50,000 for the first time ever. The S&P 500 jumped 2% to 6,932, marking its best session since May of last year, while the Nasdaq climbed 2.2% to 23,031, snapping back from Thursday’s sharp losses. Small caps joined the party too, with the Russell 2000 rallying 3.6% to 2,670.
It was a broad-based comeback after a choppy and uncomfortable stretch for equities. Advancers outpaced decliners by more than three-to-one, a clear sign that buyers stepped back in with conviction.
“Call it a comeback,” said Adam Turnquist, chief technical strategist at LPL Financial. He noted that the S&P 500 once again bounced cleanly off its 100-day moving average and pushed back above resistance near 6,900, a technical win after a volatile week of trading.
Tech, which had been a major source of pain recently, finally caught a bid. After an eight-day losing streak, software stocks rebounded as the sector approached key support near November lows. Turnquist described Friday’s move as a “much-needed relief rally,” though he cautioned that the broader tech space remains rangebound until it can break decisively above December highs.
Still, the Dow stole the spotlight. The index’s push through the 50,000 mark cleared a major psychological barrier, and the move carried extra weight. Turnquist pointed out that the breakout was confirmed by a simultaneous record high in the Dow Transports, satisfying a key Dow Theory signal that strengthens the bullish case.
The big question now is whether tech can sustain its rebound. According to Turnquist, renewed participation from the sector—particularly software—will likely be essential if the S&P 500 is going to make a durable run at the 7,000 level.
For now, though, investors head into the weekend with momentum on their side—and a brand-new milestone etched into the Dow’s history books.
3:40pm: Proactive news headlines
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Bit Digital reported January Ethereum treasury and staking metrics, disclosing holdings of about 155,239.4 ether as of January 31.
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Etana Energy signed a 10-year agreement to supply 220 MW of renewable power annually to Sibanye-Stillwater’s South African mines, marking a milestone for Chariot, which owns a 34% stake in the energy trader.
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Terrain Minerals highlighted drilling success at its Smokebush Gold & Silver Project, with more than 100 holes at the Lightning Prospect supporting progress toward a maiden JORC resource estimate by mid-2026.
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AuMEGA Metals said the market is undervaluing its Cape Ray Project, citing an established gold resource of roughly 610,000 ounces and strong near-surface exploration potential near an operating mine.
Story Continues
2:40pm: Market movers:
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Amazon.com Inc (NASDAQ:AMZN) shares slid more than 7% after earnings as investors focused on a hefty $200 billion capex plan and weaker-than-expected first-quarter margin guidance, despite solid AWS and retail performance.
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Reddit (NYSE:RDDT) beat fourth-quarter earnings and revenue expectations and announced a $1 billion share buyback, signaling confidence in its growth outlook.
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Bit Digital Inc (NASDAQ:BTBT) reported holding about 155,239 ether as of January 31, detailing its Ethereum treasury, staking activity, and stake in WhiteFiber.
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MicroStrategy Incorporated (NASDAQ:MSTR) (Strategy) shares jumped after quarterly revenue topped expectations, with growth in its software and subscription business offsetting a large accounting loss tied to Bitcoin.
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Stellantis NV (NYSE:STLA, EPA:STLA) shares plunged 25% after the automaker took a €22.2 billion charge to scale back EV projects and refocus on hybrids and gasoline-powered vehicles.
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Fortinet Inc (NASDAQ:FTNT) beat fourth-quarter revenue and earnings estimates, lifting its shares about 3% in early trading.
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Roblox Corp (NYSE:RBLX) shares rose after the company reported surging bookings, users, and engagement alongside a sharp revenue beat.
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Under Armour Inc (NYSE:UA) topped third-quarter profit expectations and raised its full-year outlook as cost cuts offset falling sales and tariff pressures.
1:25pm: Crypto, precious metals stabilize
Cryptocurrencies and precious metals are recovering from recent sharp losses. Bitcoin and Ether recovered after losing roughly 30% and over 40% of their value in recent weeks, while gold and silver regained lost ground, with gold trading slightly higher.
“After a week of heavy selling, cryptocurrencies like Bitcoin halt their sell-off as dip buyers unite, much to the relief of long-term holders,” said Axel Rudolph, Chief Technical Analyst at IG.
"Nonetheless the past three weeks have wiped off around 30% of the 'blue chip' cryptocurrency's value, briefly pushing it close to the $60,000 mark before rebounding."
11:30am: Consumer sentiment hits six-month high
US consumer sentiment rose to a six-month high in February, driven by stronger household finances and easing inflation concerns, according to the University of Michigan’s preliminary survey.
The index climbed to 57.3, beating estimates of 55, marking the third consecutive monthly gain. Meanwhile, median one-year inflation expectations fell to 3.5%, the lowest since January 2025, down from 4% in the prior month.
Jeffrey Roach, chief economist at LPL Financial, noted that higher household assets—sensitive to market performance—are bolstering optimism, supporting consumer spending. “The wealth effect remains a key factor for consumer expectations,” he said.
Roach added that while home buying conditions remain mixed due to high mortgage rates, more Americans see now as a good time to purchase vehicles and major household items, suggesting continued strength in spending.
“Consumers have largely moved on from tariff worries,” Roach said. “With higher assets lifting household finances, we expect real growth to approach 2.7% this quarter as conditions remain fertile.”
10:40am: Modest January jobs gain: analysts
Deutsche Bank economists said yesterday’s US labor data showed soft growth, though the weakness was narrow and largely driven by one-offs such as weather and post-pandemic hiring normalization.
Looking ahead to 2026, the bank expects tighter immigration to keep job growth subdued, even as demand benefits from easing trade uncertainties and fiscal stimulus.
Sector-by-sector, Deutsche Bank is bullish on education & health, construction, and trade & transport; negative on professional & business services due to AI adoption; and neutral on leisure & hospitality.
For January, the bank expects nonfarm payrolls to rise by 45,000, with private payrolls up 40,000—below consensus estimates, partly due to potential revisions from the Birth‑Death model. The unemployment rate is projected to remain steady at 4.4%. Historical payrolls will also be revised downward, with March 2025 figures likely cut by 800,000–850,000 and monthly revisions from April 2025 of 20,000–30,000.
10:00am: Tech bounce
Wall Street kicked off the day with a bounce, shrugging off a bruising week for tech stocks as investors reassessed concerns over AI disruption and Big Tech’s hefty spending plans.
The Dow Jones jumped 731 points, or 1.5%, to 49,640, while the S&P 500 climbed 71 points, or 1%, to 6,869. The Nasdaq rose 201 points, or 0.9%, to 22,742, and the Russell 2000 led the charge with a 2.2% gain to 2,634.
Despite the early rally, both the S&P 500 and Nasdaq are still set for weekly losses, remaining in the red for 2026 so far.
Bitcoin also rebounded above $68,000 after hitting a 16-month low overnight, though the cryptocurrency is on track for its worst week since 2022, erasing all of its post-Trump election gains.
Tech earnings remain in focus. Amazon shares opened down 9% following a report that its 2026 spending would surge to at least $200 billion, even as its operating income forecast fell short of expectations.
Google, meanwhile, offered a standout performance. Its stock initially fell as much as 7% after earnings, weighed down by a massive $175–185 billion spending plan for 2026. But investors snapped up the dip, sending shares to close just 0.6% below their opening level. “Google Cloud’s 48% growth is early proof that their TPU chips could reshape the chip sector,” said Ipek Ozkardeskaya, Senior Analyst at Swissquote. “Gemini partnerships, starting with Apple, could also lift market share.”
Meanwhile, Stellantis jolted investors with a warning that it would take a 22 billion-euro ($26 billion) charge as it scales back its electric vehicle ambitions. Shares in the Jeep maker plunged more than 25% at the open, marking one of the day’s most dramatic moves.
All eyes now turn to next week, with the release of the closely watched January jobs report pushed from Friday to Wednesday, which could give markets further direction amid the volatile start to 2026.
8am: Nasdaq set for higher open despite Amazon plunge
US stock futures are pointing higher Friday, recouping some of Thursday’s losses, despite a pre-market wobble in Amazon shares.
Nasdaq futures are up 0.6%, while those for the S&P 500 are 0.5% firmer, and Dow Jones futures have gained 0.4% ahead of the open. Thursday’s drop saw the Nasdaq fall 1.6%, dragged down by tech giants and worries over a softening labor market.
Alphabet rattled investors with a $175 to $185 billion 2026 capex plan - nearly double last year - while YouTube revenue lagged expectations despite 13.5% ad growth. Google Cloud’s 48% surge went largely unnoticed.
Amazon tumbled over 10% after hours, even with sales up 14% to $213 billion and AWS rising 26%. The culprit? A $200 billion capex plan for 2026, $50 billion above forecasts. Neil Wilson at Saxo Markets calls it “the classic emperor’s new clothes - all fine until someone points out the obvious.”
Meanwhile, crypto is in freefall, precious metals are soft, and AI bubble fears are resurfacing as hyperscalers ramp spending with uncertain returns.
"It’s been a week from hell for tech stocks as AI spending plans caused upset across global markets and pushed investors to unplug hyperscalers from their portfolios,” commented AJ Bell's Russ Mould.
“Amazon has followed its peers by turning up the dial to max on AI spending, leaving investors with their jaws to the floor," Mould added. "The hyperscalers are so confident that AI will change the world, they’re spending big bucks to have the foundations to serve what they predict will be sky-high demand. Investors are becoming increasingly dubious about the level of spending, fearing these companies are wasting their money."
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