[BRIEFING.COM] After a solid start to the week, stocks faced a considerable pullback today. Weakness across mega-cap and tech names saw the Nasdaq Composite (-1.4%) underperform, closing beneath its 50-day moving average of 23,374.58. The S&P 500 (-0.8%) also briefly dipped below its own 50-day moving average (6,871.53) before garnering some support. 

Early in the session, losses were relatively limited to tech names, and the DJIA (-0.3%) actually notched an all-time intraday high. The Russell 2000 (+0.3%) and S&P Mid Cap 400 (+0.2%) also traded higher before the market's losses began to widen in both size and scope, though a late-session uptick saw them notch slight gains. 

The information technology sector (-2.2%) managed a modest bump off of session lows but still finished as the worst-performing S&P 500 sector by a considerable margin. 

Leadership was poor, with Microsoft (MSFT 411.21, -12.16, -2.87%) continuing its post-earnings slide and pressuring software stocks. Gartner (IT 160.16, -42.24, -20.87%) was the worst-performing S&P 500 name today, and the iShares GS Software EFT finished 4.6% lower. 

Though software names have had a rough start to the year, the weakness has largely been offset by strength in semiconductor stocks. That was certainly not the case today, with a 2.1% slide in the PHLX Semiconductor Index suggesting some concerns around the broader AI trade. 

NVIDIA (NVDA 180.32, -5.29, -2.85%) was another notable laggard, with the company garnering plenty of headline coverage surrounding its relationship with OpenAI. Reuters reported that OpenAI is exploring alternatives to NVIDIA's chips, causing executives from both companies to downplay the headline throughout the day. 

Palantir Technologies (PLTR 157.88, +10.10, +6.84%) and Teradyne (TER 282.99, +33.46, +13.41%) traded higher after their earnings reports but finished well off their best pre-market levels.

With the AI trade facing a downturn in sentiment, it comes as no surprise that other mega-cap stocks began to lag as well. 

Alphabet (GOOG 340.70, -4.20, -1.22%), Meta Platforms (META 691.70, -14.71, -2.08%), and Amazon (AMZN 238.62, -4.34, -1.79%) all finished with similar losses, sending the communication services (-1.3%) and consumer discretionary (-1.0%) sectors lower. 

The Vanguard Mega Cap Growth ETF finished 2.0% lower, and the market-weighted S&P 500 (-0.8%) underperformed the S&P 500 Equal Weighted Index (-0.3%).

Elsewhere in the consumer discretionary sector, travel-related names such as Expedia Group (EXPE 234.46, -42.21, -15.26%) and Booking Holdings (BKNG 4644.64, -477.61, -9.32%) faced considerable retreats, while homebuilder names outperformed following a Politico report that the House is planning a vote next week on legislation to increase housing supply. 

The health care sector (-1.0%) also faced a sizable loss as Eli Lilly (LLY 1002.98, -41.15, -3.94%) traded lower ahead of its earnings tomorrow morning, while the financial sector (-0.9%) finished with a similar loss as PayPal (PYPL 41.70, -10.63, -20.31%) plummeted after missing earnings estimates. 

Meanwhile, five S&P 500 sectors put together solid performances, though it was not enough to offset weakness elsewhere. 

The energy sector (+3.3%) expanded its lead for the year as oil prices rebounded from yesterday's lows, with crude oil futures settling today's session $0.97 higher (+1.6%) at $63.16 per barrel. 

In a similar fashion, the materials sector (+2.0%) notched a solid gain as gold prices recovered from a sharp retreat, with gold futures settling $282.40 higher (+6%) at $4,935.00 per oz, marking their largest one-day gain since 2008. Ball Corp (BALL 61.77, +5.08, +8.96%) made a nice move higher after topping earnigns estimates.

The more defensive consumer staples (+1.7%) and utilities sector (+1.5%) also performed well, garnering some rotational interest amid the weakness in tech and other growth pockets.  PepsiCo (PEP 162.85, +7.65, +4.93%) made a nice move higher after beating earnings expectations, while Walmart (WMT 127.71, +3.65, +2.94%) continues an impressive surge that seats it with a 14.6% year-to-date gain. 

Overall, today's action reflected a clear rotation away from growth and momentum areas toward more defensive and value-oriented sectors, leaving the major averages under broad pressure by the close. With sentiment around AI and mega-cap leadership wobbling, traders appear increasingly cautious as the market heads into another high-profile batch of earnings reports.

There was no economic data of note today, as the December Job Openings and Labor Turnover Report was delayed by the brief government shutdown, which will end after the House narrowly passed a funding bill this afternoon.

U.S. Treasuries finished Tuesday on a flat note after recovering from a slightly lower start. The 2-year note yield finished unchanged at 3.57%, and the 10-year note yield also finished unchanged at 4.27%. 

• Russell 2000: +6.7% YTD
• S&P Mid Cap 400: +5.1% YTD
• DJIA: +2.5% YTD
• S&P 500: +1.1% YTD
• Nasdaq Composite: +0.1% YTD

[BRIEFING.COM] The major averages remain firmly lower shortly before the closing bell.  

Advanced Micro Devices (AMD 242.60, -3.67, -1.49%), Eli Lilly (LLY 1001.04, -43.09, -4.13%), and Chipotle Mexican Grill (CMG 38.80, +0.29, +0.75%) are among some of the more high-profile names that will deliver earnings reports before the opening bell tomorrow. 

Additionally, Amazon (AMZN 237.94, -5.02, -2.07%) will report earnings after the close tomorrow.

[BRIEFING.COM] The S&P 500 (-1.3%), Nasdaq Composite (-2.1%), and DJIA (-0.8%) sit just a slight touch above session lows as the market enters the final hour of the session. 

Sharp losses across tech names have the Nasdaq Composite underperforming today, with the weakness pushing the index into negative territory for the year (-0.6% YTD). The move also pushed the Nasdaq Composite below its 50-day moving average (23,374.58). 

The DJIA briefly touched a new intraday high this morning but is now on track for a lower finish. 

[BRIEFING.COM] The S&P 500 (-1.21%) is in second place on Tuesday afternoon, down about 85 points.

Briefly, S&P 500 constituents EPAM Systems (EPAM 181.15, -29.27, -13.91%), CoStar Group (CSGP 53.81, -7.37, -12.05%), and Intuit (INTU 429.62, -57.50, -11.80%) dot the bottom of the average, pressured by the broader retreat lower.

Meanwhile, DaVita (DVA 130.49, +19.30, -17.36%) is firmly higher after beating Q4 EPS and revenue estimates and raising FY26 guidance well above consensus.

[BRIEFING.COM] The tech-heavy Nasdaq Composite (-2.36%) is now down about 556 points with two hours to go on Tuesday.

Gold futures settled $282.40 higher (+6%) at $4,935.00/oz, marking their largest one-day gain since 2008. The rally was driven by short covering, bargain buying after recent declines, and ongoing safe-haven demand amid inflation concerns and resilient macro fundamentals.

Meanwhile, the U.S. Dollar Index is now -0.1% lower to $97.48.

[BRIEFING.COM] The Dow Jones Industrial Average (-0.92%) is in "first" place, down 456 points on the day as more aggressive losses are being had elsewhere.

A look inside the DJIA shows that IBM (IBM 284.27, -30.46, -9.68%), Salesforce (CRM 194.27, -16.54, -7.85%), and NVIDIA (NVDA 178.75, -6.86, -3.70%) are underperforming.

Meanwhile, Verizon (VZ 46.41, +1.80, +4.03%) is firmly higher.

The DJIA is now +7.0% off the mid-November 2025 lows.

[BRIEFING.COM] The stock market is in the midst of a broadening retreat, with the S&P 500 (-1.1%), Nasdaq Composite (-1.9%), and DJIA (0.7%) plotting session lows. The Russell 2000 (-0.6%) and S&P Mid Cap 400 (-0.4%) held solid gains this morning as weakness was largely concentrated in tech and mega-cap names but have since moved lower in tandem with the broader market. 

Of the six S&P 500 sectors that now trade lower, the top-weighted information technology sector (-2.9%) remains the worse for wear by a considerable margin. 

The iShares GS Software  ETF (IGV 84.87, -4.65, -5.19%) continues to slump as Microsoft (MSFT 409.77, -13.60, -3.21%) struggles to stop its post-earnings slide, while Gartner (IT 157.40, -45.00, -22.24%) faces a sharp retreat despite topping earnings estimates of its own. 

The technology sector is also absent of support from its chipmaker names today, as the PHLX Semiconductor Index falls 2.9%. 

Teradyne (TER 280.68, +31.15, +12.48%) and Palantir Technologies (PLTR 159.60, +11.82, +8.00%) are bright spots following their earnings reports, though their current gains are considerably thinned from their best premarket levels. 

For much of the session, the information technology sector was the only sector with a loss wider than 0.5%. Losses began to accumulate in other mega-cap names, which put pressure on the consumer discretionary (-1.1%) and communication services (-0.8%) sectors as well. 

The Vanguard Mega Cap Growth ETF is now down 2.3%, contributing to the underperformance of the market-weighted S&P 500 (-1.1%) relative to the S&P 500 Equal Weighted Index (-0.4%). 

Despite weakness permeating into the broader market throughout the session, a few pockets of strength remain. 

The energy sector (+2.5%) holds the widest gain as the price of oil rebounds from yesterday's weakness, with crude oil currently up $1.10 (+1.7%) to $63.24 per barrel. 

Similarly, the materials sector (+1.9%) advances as gold and silver prices rebound from a sharp retreat over the weekend, while Ball Corp (BALL 62.33, +5.64, +9.95%) trades sharply higher after topping earnings estimates. 

Elsewhere, the defensive consumer staples (+2.3%) and utilities (+1.6%) outperform amid the weakness in growth stocks today. PepsiCo (PEP 162.27, +7.07, +4.56%) is another notable mover after beating earnings estimates. 

Still, the outsized weakness across the market's largest names, combined with weakening breadth, keeps the major averages firmly lower entering the afternoon. Though the major averages notched gains with relative ease yesterday, the CBOE Volatility Index is up 15.7% to 18.91, suggesting that yesterday's improved risk sentiment has faded to a more uneasy disposition. 

There was no economic data of note this morning. 

[BRIEFING.COM] The major averages continue to chart session lows shortly after midday. 

Though the broader market showed resilience this morning amid considerable losses in tech, breadth figures have continued to deteriorate throughout the session. 

Sector strength now tilts negative, with six S&P 500 sectors trading lower, with losses beginning to swell. 

The CBOE Volatility Index is up 11.8% to 18.27 today, suggesting a heightened sense of unease in the market today. 

[BRIEFING.COM] The S&P 500 (-0.7%), Nasdaq Composite (-1.2%), and DJIA (-0.2%) now sit lower across the board as weakness in tech and other growth areas continues to eat into the major averages.

The consumer discretionary sector (-0.8%) is charting session lows despite Tesla (TSLA 425.92, +4.11, +0.97%) rising to become a mega-cap standout today. 

There is particular weakness across some travel-related names such as Expedia Group (EXPE 252.34, -24.33, -8.79%), Booking Holdings (BKNG 4736.89, -385.36, -7.52%), and Airbnb (ABNB 124.94, -6.37, -4.85%), though cruise lines such as Royal Caribbean (RCL 335.87, +1.82, +0.54%) and Carnival (CCL 32.62, +0.17, +0.52%) maintain modest gains after solid performances yesterday. 

[BRIEFING.COM] The S&P 500 (-0.5%), Nasdaq Composite (-1.3%), and DJIA (+0.1%) sit mostly lower as tech and mega-cap names come under pressure today while the broader market leans positive. The Russell 2000 (+0.8%) and S&P Mid Cap 400 (+0.7%) are once again outperforming the major averages. 

Though the information technology sector (-2.1%) is the only S&P 500 sector that holds a loss wider than 0.5%, the sizable pullback is enough to prevent growth in the S&P 500 and Nasdaq Composite despite relative strength elsewhere. 

Despite a nice upward move in Palantir Technologies (PLTR 154.75, +6.98, +4.72%), lingering weakness in Microsoft (MSFT 413.30, -10.07, -2.38%) keeps pressure on software names. Similarly, Teradyne (TER 281.82, +32.29, +12.94%) moves sharply higher after its own earnings beat, though broader pressure among chipmaker names keeps the PHLX Semiconductor Index 1.6% lower. 

The Vanguard Mega Cap Growth ETF is down 1.5% today, with weak mega-cap leadership also putting pressure on the consumer discretionary (-0.5%) and communication services (-0.3%) sectors.

Meanwhile, five S&P 500 sectors trade higher, all of which hold gains wider than 1.0%. 

The materials (+2.9%) and energy (+2.3%) sectors hold the widest gains as gold, silver, and oil prices all rebound considerably from yesterday's weakness. The more defensive consumer staples (+1.8%) and utilities (+1.6%) sectors are also posting solid gains amid the pullback in tech. 

[BRIEFING.COM] The major averages are little changed from previous values. 

Sector strength is mixed, with five S&P 500 sectors trading lower, though only the information technology sector (-1.8%) holds a loss wider than 0.4%. 

In the financial sector (-0.2%), PayPal (PYPL 42.70, -9.64, -18.41%) is one of the worst-performing S&P 500 names today following a double miss on Q4 earnings and revenue estimates. The sell-off is being exacerbated by a cautious 2026 outlook and the surprise announcement that Enrique Lores, former President and CEO of HP, Inc. (HPQ), will succeed Alex Chriss as President and CEO effective March 1. While the company is attempting to pivot toward agentic commerce and profitable growth in its Venmo and enterprise segments, management's admission that execution has "not been what it needs to be" and the subsequent withdrawal of long-term financial targets have created significant unease among investors.

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-1.2%), and DJIA (+0.2%) continue to sit mixed as weakness in mega-cap and tech names weighs on broader strength. 

All of the "magnificent seven" stocks trade lower, pushing the Vanguard Mega Cap Growth ETF 1.4% lower and seating the consumer discretionary (-0.3%) and communication services (-0.3%) in negative territory alongside the information technology sector (-2.0%). 

Meanwhile, the defensive consumer staples (+1.7%), utilities (+1.4%), and health care (+0.6%) sectors are posting solid gains amid the weakness in growth stocks. 

Several notable earnings-related gains also contribute to the gains, including PepsiCo (PEP 162.83, +7.63, +4.92%) and Merck (MRK 116.91, +3.54, +3.12%).

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.7%), and DJIA (+0.3%) sit mostly lower shortly after the open. 

The broader market is once again off to a solid start, though considerable weakness in the top-weighted information technology sector (-1.7%) limits growth at the index level. 

Microsoft (MSFT 416.17, -7.20, -1.70%) continues to come under pressure following its earnings release last week, while a sluggish start from NVIDIA (NVDA 183.36, -2.25, -1.21%) and other semiconductor names adds to the weakness. 

Teradyne (TER 276.35, +26.82, +10.75%) and Palantir Technologies (PLTR 155.68, +7.90, +5.35%) are both sharply higher after their earnings reports, though the gains are considerably narrowed from their best premarket levels. 

Meanwhile, eight S&P 500 sectors trade higher. 

A rebound in gold, silver, and oil prices lifts the materials (+2.0%) and energy (+1.3%) sectors to the top of the early leaderboard. 

The utilities sector (+1.2%) also holds a solid gain after retreating yesterday. 

Elsewhere, earnings continue to dominate action, with most sectors' best and worst performing names a result of the latest batch of earnings reports. 

The stock market is on track for a mostly higher opening as stocks look to build upon a solid start to a busy week of earnings. The S&P 500 and DJIA now enter today's session less than 0.5% below their respective all-time highs. 

Precious metals prices are on the rebound following a slide from their own recent all-time levels. Gold futures are up 6.4%, while silver futures are up 13.5%.

Elsewhere, Walt Disney (DIS 105.95, +1.50, +1.4%) looks to take back a chunk of yesterday's post-earnings weakness. The company's Board of Directors announced today that, in a unanimous vote held on Monday, it elected Disney Experiences Chairman Josh D'Amaro to become Chief Executive Officer of The Walt Disney Company, effective at the upcoming Annual Meeting on March 18, 2026, when he will succeed longtime Disney CEO Robert A. Iger.

The S&P 500 futures currently trade 14 points above fair value.

Equity indices in the Asia-Pacific region rallied on Tuesday with South Korea's Kospi (+6.8%) and Japan's Nikkei (+3.9%) closing at fresh record highs. Japan sold 10-yr JGBs to somewhat underwhelming demand. Shanghai has set its growth target for this year at 5.0%, down from 5.4% in 2025. The Reserve Bank of Australia raised its cash rate by 25 basis points to 3.85%, as expected. The central bank hinted at the possibility of more hikes ahead due to an upward revision to the inflation outlook, causing the market to price in two more hikes for the remainder of 2026.

• In economic data:
  • Japan's January Monetary Base -9.5% yr/yr (expected -10.3%; last -9.8%)
  • South Korea's January CPI 0.4% m/m, as expected (last 0.3%); 2.0% yr/yr (expected 2.1%; last 2.3%)
  • Hong Kong's December Retail Sales 6.6% yr/yr (last 6.5%)
  • Australia's December Building Approvals -14.9% m/m (expected -6.2%; last 13.1%); 0.4% yr/yr (last 19.4%). December Private House Approvals 0.4% m/m (last 0.8%)
  • New Zealand's December Building Consents -4.6% m/m (last 2.7%)

---Equity Markets---

• Japan's Nikkei: +3.9%
• Hong Kong's Hang Seng: +0.2%
• China's Shanghai Composite: +1.3%
• India's Sensex: +2.5%
• South Korea's Kospi: +6.8%
• Australia's ASX All Ordinaries: +0.9%

Major European indices are mixed with Italy's MIB (+1.9%) outperforming by a wide margin thanks to strong leadership from banks after Standard & Poor's affirmed UniCredit's A- rating and upgraded its outlook to Positive from Stable. The French budget for 2026 has finally passed into law without a vote in parliament. Finance Minister Lescure said that the budget deficit will decrease to 5.0% from 5.4%. The European Central Bank released its lending survey for Q4, which revealed unexpected tightening in conditions that is expected to continue into Q1.

• In economic data:
  • France's January CPI -0.3% m/m (expected -0.1%; last 0.1%); 0.3% yr/yr (expected 0.6%; last 0.8%). December government budget deficit EUR124.7 bln (last deficit of EUR155.4 bln)
  • Spain's January Unemployment Change 30,400 (expected 13,400; last -16,300)

---Equity Markets---

• STOXX Europe 600: -0.1%
• Germany's DAX: +0.1%
• U.K.'s FTSE 100: -0.9%
• France's CAC 40: -0.3%
• Italy's FTSE MIB: +1.9%
• Spain's IBEX 35: +0.2%

The S&P 500 futures currently trade 19 points above fair value. 

Terradyne (TER 312.00, +62.47, +25.0%) is a standout after the latest round of earnings reports. The company beat EPS expectations by $0.42, beat revenue expectations, and guided Q1 EPS and revenues above consensus. 

Meanwhile, Alphabet (GOOG 349.08, +4.18, +1.2%) continues to tick higher ahead of its own earnings report after the close tomorrow.  Bloomberg reports that the company's autonomous vehicle branch, Waymo, has raised $16 billion at a roughly $126 billion valuation. 

Equity futures point to a higher opening this morning after stocks posted solid gains in their first February session yesterday. 

After an underwhelming finish to the previous week, the major averages rebounded in broad fashion yesterday, with firm expansion in the January ISM Manufacturing Index (52.6%; Briefing.com consensus: 48.3%) giving a boost to the market's growth outlook.

The market will not receive a lift from today's scheduled economic data, as the partial government shutdown has delayed the release of the December Job Openings and Labor Turnover (JOLTS) report.

The House will vote today to reopen the government. The bill funds most government agencies until September 30 & DHS until February 13. House Speaker Mike Johnson is confident the bill will pass after President Trump supported the bill without any changes, according to NBC News. 

In the meantime, earnings continue to be a key driver of price action, with over 100 S&P 500 companies set to report this week, including a few mega-cap tech companies. 

In corporate news:

• SpaceX and xAI are set to merge into a single company with a valuation of around $1.25 trillion.
• Merck (MRK 112.49, -0.88, -0.8%) beat EPS expectations by $0.03 and beat revenue expectations. The company guided FY26 EPS and revenues below consensus. 
• OpenAI's Sam Altman, via X, refuted claims that the company is dissatisfied with some of NVIDIA's (NVDA 187.02, +1.41, +0.8%) chips.
• Palantir Technologies (PLTR 163.99, +16.22, +11.0%) beat EPS expectations by $0.02, beat revenue expectations, and guided Q1 and FY26 revenues above consensus. Robert W. Baird upgraded the stock to Outperform from Neutral with a target price of $200.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region rallied on Tuesday, with South Korea's Kospi (+6.8%) and Japan's Nikkei (+3.9%) closing at fresh record highs. Japan's Nikkei: +3.9%, Hong Kong's Hang Seng: +0.2%, China's Shanghai Composite: +1.3%, India's Sensex: +2.5%, South Korea's Kospi: +6.8%, Australia's ASX All Ordinaries: +0.9%.

In news:

• Japan sold 10-yr JGBs to somewhat underwhelming demand.
• Shanghai has set its growth target for this year at 5.0%, down from 5.4% in 2025.
• The Reserve Bank of Australia raised its cash rate by 25 basis points to 3.85%, as expected.
• The central bank hinted at the possibility of more hikes ahead due to an upward revision to the inflation outlook, causing the market to price in two more hikes for the remainder of 2026.

In economic data:

• Japan's January Monetary Base -9.5% yr/yr (expected -10.3%; last -9.8%)
• South Korea's January CPI 0.4% m/m, as expected (last 0.3%); 2.0% yr/yr (expected 2.1%; last 2.3%)
• Hong Kong's December Retail Sales 6.6% yr/yr (last 6.5%)
• Australia's December Building Approvals -14.9% m/m (expected -6.2%; last 13.1%); 0.4% yr/yr (last 19.4%). December Private House Approvals 0.4% m/m (last 0.8%)
• New Zealand's December Building Consents -4.6% m/m (last 2.7%)

Major European indices are mixed with Italy's MIB (+2.0%) outperforming by a wide margin thanks to strong leadership from banks after Standard & Poor's affirmed UniCredit's A- rating and upgraded its outlook to Positive from Stable. STOXX Europe 600: +0.1%, Germany's DAX: +0.4%, U.K.'s FTSE 100: -0.5%, France's CAC 40: -0.1%, Italy's FTSE MIB: +2.2%, Spain's IBEX 35: +0.1%.

In news:

• The French budget for 2026 has finally passed into law without a vote in parliament. Finance Minister Lescure said that the budget deficit will decrease to 5.0% from 5.4%.
• The European Central Bank released its lending survey for Q4, which revealed unexpected tightening in conditions that is expected to continue into Q1.

In economic data:

• France's January CPI -0.3% m/m (expected -0.1%; last 0.1%); 0.3% yr/yr (expected 0.6%; last 0.8%). December government budget deficit EUR124.7 bln (last deficit of EUR155.4 bln)
• Spain's January Unemployment Change 30,400 (expected 13,400; last -16,300)

[BRIEFING.COM] The stock market notched a winning session to start the week, with the S&P 500 (+0.5%), Nasdaq Composite (+0.6%), and DJIA (+1.1%) advancing on broad strength as the market rebounded from a mostly lower finish last week. The Russell 2000 (+1.0%) and S&P Mid Cap 400 (+0.9%) finished similarly after underperforming in the previous week. 

Stocks had a relatively easy session despite some volatility in other parts of the market. Gold and silver extended their pullback from recent record highs, Bitcoin and other cryptocurrencies faced a sharp retreat over the weekend, and a path towards negotiations between the U.S. and Iran sent oil prices sharply lower. Those factors were not completely absent from today's trade, as Robinhood Markets (HOOD 89.91, -9.57, -9.62%) was the worst performing S&P 500 name amid the weakness in crypto, and the energy sector (-2.0%) was the worst performing S&P 500 sector. 

However, they did not come to define today's session, as the market advanced with a strong "risk on" disposition. 

This morning's economic data added juice to a market that was arguably already primed for some buy-the-dip action after Friday's lower finish. The ISM Manufacturing Index (52.6%; Briefing.com consensus: 48.3%) showed manufacturing activity expanded in January, an encouraging sign for both economic and earnings growth. 

Growth names in turn rebounded from Friday's more defensive posturing, as evidenced by solid gains across smaller-cap indices, a 1.2% gain in the Invesco S&P 500 High Beta ETF, and a 1.7% gain in the PHLX Semiconductor Index. 

Strength was broad for the entirety of the session, with eight S&P 500 sectors finishing higher.

Though typically a more defensive sector, the consumer staples sector (+1.6%) finished with the widest gain, expanding upon a similar gain on Friday as Walmart (WMT 124.06, +4.92, +4.13%) and Costco (COST 968.36, +28.11, +2.99%) provided solid leadership. 

The industrials (+1.3%) sector finished similarly, with Caterpillar (CAT 690.91, +33.55, +5.10%) rebounding after a post-earnings slide, while airline names such as United Airlines (UAL 107.35, +5.03, +4.92%) and Delta Air Lines (DAL 69.08, +3.19, +4.84%) were boosted by the falling price of oil. 

The financials sector (+1.0%) rounds out the top three S&P 500 sectors, with strength also led by a rebound in several stocks that reported earnings last week, including Visa (V 333.84, +12.01, +3.73%).

Fifth Third (FITB 51.95, +1.73, +3.44%) notched a similar gain after announcing it has completed its merger with Comerica Incorporated (CMA 90.39, -2.47, -2.66%) to become the ninth largest U.S. bank. 

Meanwhile, the top-weighted information technology sector finished near the middle of the pack. 

Strength in the sector's mega-cap components was mixed today.  Apple (AAPL 270.01, +10.53, +4.06%) surged higher after a flattish response to an impressive earnings report on Friday, while Microsoft (MSFT 423.37, -6.92, -1.61%) continues to struggle after its earnings.

NVIDIA (NVDA 185.61, -5.52, -2.89%) also slid lower throughout the session, despite a relatively strong day for chipmakers.

The Vanguard Mega Cap Growth ETF (+0.2%) still notched a slight gain, with Amazon (AMZN 242.96, +3.66, +1.53%) and Alphabet (GOOG 344.90, +6.37, +1.88%) trading higher ahead of their earnings reports this week. 

In addition to the energy sector (-2.0%), the utilities (-1.5%), and real estate (-1.1%) sectors also finished lower. 

All told, today's session marked a solid rebound from a softer end to the previous week. Solid buy-the-dip interest combined with optimistic economic data lifted stocks in broad fashion, putting them on more solid footing ahead of another busy week of earnings. 

U.S. Treasuries began February with losses across the curve after backing down from their opening highs. The 2-year note yield settled up four basis points to 3.57%, and the 10-year note yield settled up three basis points to 4.28%. 

• Russell 2000: +6.4% YTD
• S&P Mid Cap 400: +4.9% YTD
• DJIA: +2.8% YTD
• S&P 500: +1.9% YTD
• Nasdaq Composite: +1.5% YTD

Reviewing today's data:

• January S&P Global U.S. Manufacturing PMI - Final 52.4; Prior 51.9
• January ISM Manufacturing Index 52.6% (Briefing.com consensus 48.3%); Prior 47.9%
  • The key takeaway from the report is that activity in the manufacturing sector revved up in January, breaking a streak of eleven straight months in a state of contraction, paced by the highest level in the new orders index since February 2022.