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Happy Thursday. This is TheStreet’s Stock Market Today for Feb. 5, 2026. You can follow the latest updates on the market here in our daily live blog
Update: 4:01 p.m. ET
Closing Bell
That’ll be three consecutive down days for U.S. stocks. The market is now closed.
The Russell 2000 fell nearly two percent, eking out a last-minute candle to finish down 1.8% today, good for the worst performance among major U.S. equity benchmarks. The Nasdaq (-1.59%), S&P 500(-1.23%), and Dow (-1.2%) were a little further behind.
Amazon Earnings Disappoint on Capex Jitters
Also just out, Amazon is echoing a lot of what their tech peers have been saying in recent reports: they are going to spend much more on capital expenditures this year than expected. The spending revelations echo similar commentary from Microsoft and Alphabet, which both faced drawdowns after their respective Q4 results, facing the cost of steeper AI investments. As a result, the company’s stock is off more than 10% in after hours.
Bitcoin Continues Cratering
Among the worst-performing stocks on our midday movers list today were firms attached to the crypto and digital assets industry. Matters have only gotten worse for them this week, with Bitcoin losing a quarter of its value in the last seven days.
In the last 24 hours, it’s down 13%, plummeting well below the psychological $70,000 support and settling into the $63,000 range. Ethereum has also fallen below $2,000 support, sitting at $1,847 at last read.
This is starting to look a little catastrophic for publicly traded treasury companies and bitcoin miners, while brokers for the assets are also being dragged along with. Bear in mind, the largest bitcoin treasury play, Strategy, booked a $12.4 billion quarterly loss in Q4. That puts the scale of these losses into perspective.
Silver’s Crash Out
Silver fell over 19% today to $72.
Update: 1:38 p.m. ET
Midday Movers
A weak start to the day pushed U.S. stock benchmarks down more than one percent this morning. A brief recovery would follow, but unfortunately for bulls, we’re sort of right back where we started. In some cases, worse.
The Russell 2000 (-1.56%) has sunk to day lows while the Nasdaq (-1.39%), S&P 500 (-1.14%), and Dow (-1.10%) are still off more than one percent. Their respective afternoons have all looked pretty similar; stocks have been in decline all P.M. In fact, 72.2% (4,006) issues are declining today against just 25.1% (1,394) that are advancing.
That said, let’s dig into today’s Midday Movers, the top and bottom 20 stocks on U.S. markets:
Winners
FormFactor (+18.21%), Mckesson Corporation (+16.48%), and SiTime (+15.93%) are at the top of the Midday Movers list today.
Losers
At the bottom, Fluence Energy (-31.46%), Ralliant (-30.07%), and Estee Lauder Cos (-21.06%) are facing investors’ wrath today. Not far behind, crypto treasury giant Strategy (-14.96%) and mining companies like MARA Holdings (-14.25%) are declining amid a crash in bitcoin prices, which is weighing down the broader crypto industry.
Update: 9:51 a.m. ET
Opening Bell
Kicking off the day, large cap indexes are continuing a recent trend: going down. The Dow (-0.73%) is reversing yesterday’s gains, while the Nasdaq (-0.91%) and S&P 500 (-1.01%) are off closer to one percent. These declines also seem to be accelerating out of the gate.
Still, it’s worth a little reality check: the S&P 500 is now at a two-week low. The Nasdaq remains at its lowest price of 2026. It’s hardly the end of the world, but the bleakness measured in recent days has feel especially heavy.
Meanwhile, the Russell 2000 (-0.28%) is saddling slim declines. With 54.5% (3,027) U.S. issues declining this morning against 40.9% (2,270) advancing, per data from FinViz. That ‘declining’ figure also seems to be steepening.
Speaking of steepening, volatility is also on the rise. The Cboe Volatility Index just hit two-month highs at 22.53.
What’s Causing the Market Decline?
Today, the narrative still seems to be centered on tech companies. Alphabet’s massive AI spending in its latest quarterly report (and its forecast going forward) points to a troubling industry trend where tech giants are spending well beyond expectations. Whether that spending can drive earnings results soon is increasingly a more pervasive question than, “What will AI disrupt?”
However, there is another note souring the market today: labor market data. We’ll touch on the specifics below, but bad layoff data, higher unemployment claim filings, and a tepid JOLTs survey point to more trouble in Labor Land.
That said, here’s what else to know so far this morning:
Heatmap: S&P 500
As aforementioned, tech is leading the declines this morning as mega caps like Amazon (-3.47%), Alphabet (-2.94%), and Microsoft (-2.72%) are weighed down by the market mood. The rest of the market, by contrast, is in slightly better shape. Here’s the S&P 500 after a few minutes of trading:
Earnings Today: Amazon, Linde, Shell
This morning, we had a few reports to pick from, mostly in non-tech fields. Reports from Linde, Shell, ConocoPhillips, and Sony kicked off during the A.M. session:
This evening, we’ll also be getting Amazon earnings, along with a number of smaller reports like Fortinet, Digital Realty Trust, and Monolithic Power System Inc. Here’s the full slate:
Economic Data: Challenger Job Cuts, Jobless Claims, JOLTs
This morning, economists and investors alike got a look at a few labor market reports. None of them were particularly positive-looking.
The Challenger Job Cuts more than tripled in the month of January, rising from 35,553 to 108,435. Initial Claims for the latest week also rose from 209,000 to 231,000. Continuing Claims also crept up from 1,819,000 to 1,844,000. And last, data from JOLTs showed Job Openings hit a new low in December, while quits came in hotter than expected.
Here’s the full list of economic events and reports today through 10 a.m. ET:
