{"id":82754,"date":"2026-02-09T19:49:44","date_gmt":"2026-02-09T22:49:44","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/890848368"},"modified":"2026-02-09T19:49:44","modified_gmt":"2026-02-09T22:49:44","slug":"dow-sets-second-straight-record-as-tech-rebound-fuels-wall-street-gains","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/09\/dow-sets-second-straight-record-as-tech-rebound-fuels-wall-street-gains\/","title":{"rendered":"Dow sets second straight record as tech rebound fuels Wall Street gains"},"content":{"rendered":"
<\/div>\n

The S&P 500 and the Nasdaq rose solidly after a shaky start today, as technology stocks found their footing following last week\u2019s AI-sparked selloff, while investors waited for key economic data that could shed light on the Federal Reserve\u2019s interest-rate path.<\/p>\n

While the Dow notched its second closing record in a row with a small gain, the S&P 500 ultimately finished short of its closing record.<\/p>\n

The S&P 500 technology sector finished up 1.6% to extend Friday\u2019s gains after a steep selloff last week. The S&P 500 Software Services index ended up 2.9% as it clawed back some losses for a second day after a bruising seven days of losses fueled by fears that AI could intensify competition.<\/p>\n

One big gainer in software was Oracle, which added 9.6% after D.A. Davidson upgraded it to a \u201cbuy\u201d recommendation from \u201cneutral.\u201d<\/p>\n

Along with the upgrade, Keith Lerner, chief investment officer at Truist Advisory Services, said another support for technology stocks came from comments CNBC attributed to Sam Altman, the CEO of Microsoft-backed OpenAI.<\/p>\n

Altman told employees that the startup\u2019s artificial intelligence chatbot, ChatGPT, was back to exceeding 10% monthly growth, according to CNBC\u2019s report which Reuters could not independently verify.<\/p>\n

\n
\n
\n
Don’t miss out on what’s happening!<\/strong><\/h6>\n

Stay in touch with breaking news, as it happens, conveniently in your email inbox. It’s FREE!<\/p>\n<\/p><\/div>\n

<\/div>\n

<\/div>\n

<\/p>\n

\u201cYou\u2019ve a sharply oversold market where a little bit of good news can go a long way,\u201d said Lerner, adding that \u201cthe rubber band was stretched too far for tech and software\u201d in last week\u2019s selloff.<\/p>\n

While the software index was still almost 13% below its trading levels just before the exodus that started in late January, the broader tech sector was less than 3% under its pre-selloff levels.<\/p>\n

After surpassing 50,000 points for the first time on Friday, the Dow Jones Industrial Average rose 20.20 points, or 0.04%, to 50,135.87. The S&P 500 gained 32.52 points, or 0.47%, to 6,964.82 and the Nasdaq Composite gained 207.46 points, or 0.90%, to 23,238.67.<\/p>\n

The Nasdaq finished 3% below its latest record closing high, reached in November, while the S&P 500 was just out of reach of its last record close of 6978.60 reached on January 27.<\/p>\n

The materials index, up 1.4%, showed the second biggest advance among the S&P 500\u2019s 11 major industry indexes, as a rally in gold and silver boosted miners.<\/p>\n

The consumer staples sector, which had benefited during the technology selloff, was tied with healthcare for the steepest sector declines of the day, with both falling 0.86%.<\/p>\n

Healthcare\u2019s biggest loser was Waters, whose shares sank 13.9% after the lab equipment maker forecast first-quarter profit below Wall Street estimates. Investors also weighed weakness in a Becton Dickinson unit it acquired last year.<\/p>\n

The Philadelphia SE Semiconductor index gained 1.4%. Among its members, Nvidia shares added 2.5% providing the S&P 500\u2019s biggest boost, but traders must wait until later this month for results from the AI chip leader.<\/p>\n

Coming closer in the pipeline is the January nonfarm payrolls report due on Wednesday, which was delayed by a partial government shutdown, and the closely watched January Consumer Price Index on Friday.<\/p>\n

Markets are currently pricing in the year\u2019s first interest-rate cut in June, according to CME Group\u2019s FedWatch tool, which could be when U.S. President Donald Trump\u2019s nominee for Fed chair, Kevin Warsh, takes over.<\/p>\n

Among individual stock movers, Hims & Hers Health tumbled 16% for its seventh consecutive daily loss. Novo Nordisk sued the telehealth firm for patent infringement after the U.S. firm launched, then canceled, a $49 copy of the Danish drugmaker\u2019s weight-loss pill Wegovy following backlash from the U.S. Food and Drug Administration.<\/p>\n

Workday shares slid 5% after the human resources software provider announced co-founder Aneel Bhusri will return as its CEO.<\/p>\n

Kyndryl shares plunged 54.9% after the IT services provider delayed its quarterly filing and flagged material weakness in its financial reporting.<\/p>\n

Kroger\u2019s shares rallied 3.9% after the grocery giant named former Walmart executive Greg Foran as its chief executive.<\/p>\n

Advancing issues outnumbered decliners by a 2.13-to-1 ratio on the NYSE where there were 789 new highs and 99 new lows. On the Nasdaq, 2,887 stocks rose and 1,917 fell as advancing issues outnumbered decliners by a 1.51-to-1 ratio.<\/p>\n

The S&P 500 posted 63 new 52-week highs and 20 new lows while the Nasdaq Composite recorded 165 new highs and 127 new lows.<\/p>\n

Trading volume was relatively light today with about 17.78 billion shares changing hands compared with the 20.66 billion moving average for the last 20 sessions.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… , said another support for technology<\/span> stocks came from comments CNBC … was stretched too far for tech<\/span> and software\u00e2\u0080\u009d in last … late January, the broader tech<\/span> sector was less than 3% … which had benefited during the technology<\/span> selloff, was tied with healthcare …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-82754","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/82754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=82754"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/82754\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=82754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=82754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=82754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}