Stock Market Summary – February 09, 2026

The S&P 500 saw a relatively muted opening on Monday, eventually rising mildly by 1.3%, alongside large tech stocks. The Dow Jones Industrial Average performed stronger, gaining around 4.3%, despite a downswing in premarket trading. However, the NASDAQ trailed behind, dropping by roughly 0.9%.

Shares of Microsoft were downgraded from ‘buy’ to ‘hold’ by Melius Research, after analysts found that the expensive stock had lost the ‘AI narrative’, leading to a slight rise of 2.5%. However, stocks within the NASDAQ, such as Nvidia and Broadcom rose over 3%, driven by Alphabet and Meta’s plans to increase their AI budget for the year. Conversely, cryptocurrency-related stock saw a major slump, with Bitcoin dropping over 40% from its all-time high. Cipher Mining and TeraWulf, two bitcoin-related companies are predicted to more than double in shares after pivoting to data centres, according to Morgan Stanley.

In terms of individual stocks, Kroger saw an advance of nearly 7% after former Walmart executive Greg Foran was poised to become its new CEO. Cleveland-Cliffs’ stock fell nearly 4% after the company missed Q4 revenue and adjusted EBITDA estimates. Pharmaceutical firm, Novo Nordisk saw its stocks rise by 5.5% after Hims & Hers withdrew its copycat weight-loss pill following a lawsuit from Novo. Conversely, Hims & Hers’ stocks fell by over 20%.

The US housing market may see significant changes, following a package of bills aimed at increasing housing affordability through reduced regulatory limits. The legislation is expected to incentivize home construction and has strong bipartisan support, hinting at potential implementation before the year ends.

Overall, the stock market reflected a significant period of rotation, with investors moving away from technology towards more traditional sectors.