Stocks dip ahead of tomorrow’s delayed jobs report
After weaker-than-expected retail sales, Wall Street awaits tomorrow’s delayed jobs report and Friday’s delayed CPI for clues into the health of the economy.
Stocks wavered ahead of tomorrow’s delayed jobs report as the S&P 500, Nasdaq 100, and Russell 2000 all traded lower. Weaker-than-expected December retail sales stoked fears of a slowing economy. Communications and financials were the worst-performing sectors, while utilities, real estate, and materials were the best performers.
Stocks that moved higher:
Beaten-up software names rebounded, including Figma, Oracle, and ServiceNow.
Spotify jumped as the streaming service’s Q4 monthly average user growth and gross margins set records.
Oscar Health gained after reporting impressive full-year guidance that more than offset disappointing Q4 results.
Datadog rocketed higher after reporting a solid Q4 revenue and earnings beat, which outweighed its softer full-year outlook.
Credo Technology Group soared after the seller of active electrical cables and other electrical connectivity solutions for data centers announced stellar Q3 preliminary sales results after the close yesterday, with guidance that calls for rapid growth to continue.
Ferrari jumped after announcing better-than-expected Q4 profits and full-year 2026 EBITDA guidance.
TSMC moved higher as revenues soared 37% in January.
Harley-Davidson rose despite reporting falling motorcycle sales and a weaker-than-expected 2026 profit forecast before the bell this morning.
Vistra rose after Jefferies upgraded the stock to “buy” from “hold,” raising its price target to $203 from $191.
Warner Bros. Discovery rose as Paramount said it will pay a shareholders a “ticking fee” of $0.25 per share for every quarter the deal hasn’t closed after the end of 2026.
AppLovin continued to tick higher after CapitalWatch announced “significant revisions” to its negative report yesterday, though its stance on the company “remains unchanged.”
Stocks that moved lower:
Memory chip stocks Seagate Technology Holdings, Micron, Western Digital, and Sandisk slipped as money rotated into beaten-down software stocks.
Hims & Hers continued to fall on yesterday’s news that Novo Nordisk is suing the company on allegations of infringing on one of its key patents for semaglutide.
Under Armour dropped as the stock was cut to “sell” from “neutral” by Citi.
Coca-Cola ticked lower after Q4 sales and 2026 organic revenue growth guidance fell short of expectations.
Upwork tumbled after its guidance for Q1 sales and adjusted EBITDA trailed estimates.
S&P Global tumbled after the company’s full-year profit forecast fell short of Wall Street’s estimates.
