WEEKLY MARKET RECAP – FEBRUARY 6, 2026

Stocks opened and closed the week with strong rallies, helping to offset midweek sell-offs that hit technology shares particularly hard. Performance across the major indexes diverged sharply: the Dow gained 2.5% and topped the 50,000 mark for the first time, the S&P 500 ended with a slight decline, and the NASDAQ dropped 1.8%.

Large-cap value stocks extended their year-to-date advantage over growth, signaling a notable shift from the growth-led leadership of recent years. A value benchmark rose 2.2% for the week, while its growth counterpart fell 2.0%.

Volatility in precious metals persisted. Gold recovered from the prior week’s losses, while silver moved lower. Even with gold’s weekly gain, it traded near $4,980 per ounce on Friday, still well below its January 29 record of almost $5,586. Silver fell to around $77 per ounce, down significantly from its own January 29 peak near $121.

With earnings season more than halfway complete, the technology sector continued to stand out in profit growth expectations. FactSet data showed information technology companies projected to deliver average fourth-quarter earnings growth of 30.4%, more than double the 13.0% forecast for the S&P 500 overall.

In Europe, the European Central Bank held interest rates steady for a fifth straight meeting, keeping its key rate at 2.0%. The decision followed a report showing eurozone inflation easing to 1.7%, below the ECB’s 2.0% target.

U.S. consumer sentiment improved, reaching its highest level in six months. The University of Michigan’s preliminary February reading rose to 57.3, up from a low of 51.0 three months earlier, though still below the 64.7 level recorded a year ago.

Finally, the partial U.S. government shutdown that ended Tuesday prompted further delays in key economic data releases. The Bureau of Labor Statistics postponed Friday’s monthly jobs report until Wednesday, February 11, while the Consumer Price Index release was pushed back to Friday, February 13.