Resilient U.S. consumers remain upbeat about the economy, with sentiment rising to its best levels in six months even as labor market uncertainty, inflation and geopolitical tensions linger. The latest University of Michigan survey reveals that consumer sentiment improved to a reading of 57.3 in the early part of February, up from 56.4 last month.
The Nasdaq Composite has widened its lead, adding nearly 2% in today’s session.
Nvidia (Nasdaq: NVDA) stock has begun to rally, climbing 7% higher and helping to alleviate fears of the AI bubble in the markets. All three of the major stock market averages are now advancing, including a 1.4% gain in the Nasdaq Composite. In a recovery session, Bitcoin stock Strategy (Nasdaq: MSTR) is soaring by 20.4% today, sending the stock comfortably above the $120 per share level.
Wall Street analysts are beginning to challenge Big Tech as aggressive AI-fueled capital spending plans come under greater scrutiny. At Morgan Stanley, analysts say Amazon (Nasdaq: AMZN) will need to show clearer returns on its $200 billion capex roadmap by 2026. Continued strength at AWS helps support the investment case. In sum, Morgan Stanley continues to view Amazon as one of the market’s more underappreciated generative AI plays.
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Technology investors have been taken on a wild ride in which AI bubble fears resurfaced, erasing $1 trillion in market cap from Big Tech in the past week alone. Today, the markets are licking their wounds in an attempt to end the week on a positive note, as all three of the major stock market averages navigate their way into the green.
Fed official Dr. Raphael W. Bostic is making the speaking rounds, reportedly saying that it will be late into H1 2026 before the data gives a clear signal on the economy, indicating that the U.S. is not out of the woods yet on inflation.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,556.11 Up 647.39 (+1.3%)
Nasdaq Composite: 22,759.07 Up 216.09 (+0.85%)
S&P 500: 6,865.94 Up 67.54 (+0.96%)
Economists are sounding more upbeat on the U.S. growth outlook as investment tied to artificial intelligence gains momentum. At Oxford Economics, analysts see the economy holding up well through 2026 and 2027, supported by ongoing AI spending, tax incentives and steady demand from higher-income consumers. The firm is forecasting GDP growth of 2.8% in 2026 and 2.3% in 2027, following a strong 4.4% annualized gain in the third quarter of 2025.
Amazon’s (Nasdaq: AMZN | AMZN Price Prediction) quarterly results are out of the bag, and the e-commerce giant has outlined a capex plan of $200 billion for the year, piling on a trend in which Big Tech companies are spending aggressively to compete in the AI race. CEO Andy Jassy assured the markets that the spending will deliver “strong returns.” While fears of an AI bubble have resurfaced, Amazon’s cloud business is humming along just fine. Amazon has also filed for what’s known as a mixed-shelf offering, the details of which are scant. AMZN stock is reeling by 8.9% today.
Stellantis (NYSE: STLA) stock is spiraling by 25% today as the EV maker amid a multi-billion-dollar write off tied to its business model. Tesla (Nasdaq: TSLA) stock is up fractionally today.
Chipmaker Qualcomm (Nasdaq: QCOM) stock is on the mend after a sell-off this week in which the stock fell close to its 52-week low after Wall Street shunned its disappointing revenue forecast.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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