Market Snapshot
| Dow | 49406.45 | +515.19 | (1.05%) | | Nasdaq | 23592.13 | +130.29 | (0.56%) | | SP 500 | 6976.43 | +37.41 | (0.54%) | | 10-yr Note |
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| | NYSE | Adv 1602 | Dec 1140 | Vol 1.42 bln | | Nasdaq | Adv 2753 | Dec 2067 | Vol 8.92 bln |
Industry Watch
| Strong: Health Care, Information Technology, Materials, Consumer Discretionary, Financials, Consumer Staples |
| | Weak: Energy, Real Estate, Utilities |
Moving the Market
--Relatively broad early gains
--Oil prices sharply lower as U.S. and Iran look to negotiate a deal
--Rebound in memory storage names, tech names mostly higher
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Market advances in broad fashion
02-Feb-26 16:30 ET
Dow +515.19 at 49406.45, Nasdaq +130.29 at 23592.13, S&P +37.41 at 6976.43
[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.
Maajor averages higher ahead of more earnigns
02-Feb-26 15:35 ET
Dow +535.20 at 49426.46, Nasdaq +133.29 at 23595.13, S&P +40.57 at 6979.59
[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+0.6%), and DJIA (+1.1%) are little changed from previous values with just half an hour left in today's action.
The market will see another modest batch of earnings after the close, with a larger batch to follow before the open tomorrow.
Palantir Technologies (PLTR 147.20, +0.61, +0.42%) is among the names set to report this evening, with the stock having risen nearly 3% earlier in the session before faceing some pressure.
Elsewhere, Merck (MRK 113.12, +2.85, +2.58%) and Marathon Petroleum (MPC 176.60, +0.41, +0.23%) area also set to deliver their earnigns before the opening bell tomrrow.
Major averages reamin higher in late afternoon trading
02-Feb-26 15:00 ET
Dow +499.10 at 49390.36, Nasdaq +118.82 at 23580.66, S&P +39.37 at 6978.39
[BRIEFING.COM] The major averages are closing in on solid gains with just an hour left in the first session of the month.
Stocks have had a relatively easy session so far, steadily climbing despite falling oil, cryptocurrency, and gold prices.
The CBOE Volatility Index is down 7.4% to 16.15, suggesting a rebound in sentiment after a choppy end to the previous week.
S&P 500 Trails Major Indexes Despite Gains; Corning, ODFL, MU Lead, IDXX Slides on Cautious Guidance
02-Feb-26 14:30 ET
Dow +531.76 at 49423.02, Nasdaq +249.04 at 23710.88, S&P +51.72 at 6990.74
[BRIEFING.COM] The S&P 500 (+0.75%) is in "last" place among the major averages, still up more than 50 points on the session.
Briefly, S&P 500 constituents Corning (GLW 109.81, +6.56, +6.35%), Old Dominion (ODFL 183.95, +10.75, +6.21%), and Micron (MU 436.59, +21.71, +5.23%) dot the top of the standings despite a dearth of corporate news.
Meanwhile, IDEXX Labs (IDXX 630.61, -39.85, -5.94%) is one of today's worst laggards despite a Q4 beat because FY26 guidance was slightly cautious, with EPS at the low end of consensus and modest revenue growth, falling short of elevated market expectations. Combined with its premium valuation, investors appear to be pricing in slower growth and taking profits.
Gold Slides Nearly 2% as Hawkish Fed Repricing Lifts Dollar, Triggers Technical Selling
02-Feb-26 14:00 ET
Dow +521.49 at 49412.75, Nasdaq +214.42 at 23676.26, S&P +49.36 at 6988.38
[BRIEFING.COM] The tech-heavy Nasdaq Composite (+0.91%) is in second place with about two hours to go on Monday.
Gold futures settled $92.50 lower (-1.9%) at $4,652.60/oz, as markets repriced U.S. monetary policy expectations following signs of a potentially more hawkish Fed leadership, lifting the dollar and yields and weighing on non-yielding assets. The move was amplified by technical selling and position unwinds after higher futures margin requirements, turning a policy-driven pullback into a sharper short-term correction.
Meanwhile, the U.S. Dollar Index is up +0.7% to $97.70.
Tyson Foods Flat Despite Q1 Beat; Top-Line Strength Offset By Continued Beef Pressure (TSN)
Tyson Foods (TSN) is relatively flat after reporting its Q1 (Dec) results this morning. The food producer delivered a modest EPS beat, while revenue increased 5.1% yr/yr to $14.31 bln, better than expected. The company also reaffirmed its FY26 revenue guidance, expecting revenue growth of 2-4%, or $55.53-56.62 bln, in line with expectations.
- Beef remains the main overhang. Sales rose 8.2% yr/yr to $5.77 bln on pricing (+17.2%), but volume fell 7.3% and adjusted segment operating income declined 104% yr/yr to -$143 mln as cattle costs outpaced cutout strength.
- Prepared Foods was a relative bright spot. Sales increased 8.1% yr/yr to $2.67 bln with volume turning slightly positive (+0.2%). Adj. segment operating income increased 5% yr/yr to $338 mln and margin eased 40 bps to 12.6%.
- Chicken continues to benefit from consumer preferences. Sales increased 3.6% yr/yr to $4.21 bln, driven entirely by volume (+3.7%), marking the fifth straight quarter of yr/yr volume growth. Adj. segment operating income dipped about 2.5% yr/yr to $459 mln, and margin fell 70 bps to 10.9%.
- Pork was steady with better profitability. Sales were roughly flat at $1.61 bln. Adj. segment operating income increased 52% yr/yr to $111 mln and margin improved 220 bps to 6.7%, driven by network optimization and operational efficiencies.
- Looking ahead, TSN expects cattle supplies to remain tight through 2026-27, keeping Beef pressured, while Chicken is positioned to benefit as consumers trade down to value proteins. TSN also noted new dietary guidance guidelines as a demand tailwind and expects its Beef right-sizing actions to start helping results in coming quarters.
Briefing.com Analyst Insight
TSN is seeing a muted reaction despite beating Q1 expectations. While revenue growth of 5.1% was its strongest in over three years, the EPS upside was smaller than recent quarters. The solid top line largely reflects stronger Beef pricing and continued strength in Prepared Foods and Chicken. However, the limited EPS upside reflects sharp pressure on Beef profitability and a slight step-down in Chicken segment income amid a tougher backdrop that management characterized as manageable, including lower commodity pricing and disruption tied to the temporary government shutdown. With FY26 guidance reaffirmed, investors still appear to be waiting for clearer evidence that Beef right-sizing actions translate into improved earnings as the year progresses.
Twist Bioscience launches on Q1 beat-and-raise as momentum builds for AI-enabled discovery (TWST)
Twist Bioscience (TWST) is launching higher after reporting a beat-and-raise performance for 1Q26. The synthetic DNA leader delivered total revenue of $103.7 mln, a 17% yr/yr increase, marking its 12th consecutive quarter of revenue growth. Consequently, TWST upwardly revised its FY26 revenue guidance to a range of $435-$440 mln, up from the previous $425-$435 mln range. The company also reiterated that it remains on track to reach adjusted EBITDA breakeven by 4Q26.
- DNA Synthesis and Protein Solutions (DSPS) lead the growth. Revenue for the segment reached $51.1 mln, representing 27% yr/yr growth. This strength was primarily driven by high-volume customers in the AI-enabled discovery space, particularly those in the therapeutics sector.
- Next-Generation Sequencing (NGS) remains a core pillar. Segment revenue grew to $52.6 mln, an 18% yr/yr increase when excluding one large legacy customer.
- NGS growth was fueled by expanding volumes with existing oncology diagnostic customers and significant new partnerships, including a 50% increase in global supply partner revenue.
- AI-enabled discovery is transitioning to production. TWST noted that what began as exploratory work in early 2025 is now moving into "repeat production level workflows".
- As AI models mature, the industry bottleneck has shifted from algorithm development to the speed and economics of experimental data generation, which favors TWST’s high-throughput silicon platform.
- Gross margin improved to 52.0% in Q1, up approximately 400 bps yr/yr. The company maintains that 75% to 80% of incremental revenue now drops directly to the gross margin line as the "NPI machine" scales.
- Operating expenses increased to $86.9 mln as the company front-loaded investments in its sales team and a new e-commerce channel for NGS.
Briefing.com Analyst Insight:
TWST is seeing a strong positive reaction as it successfully pairs double-digit top-line growth with a clear path to profitability. The 1Q26 results validate TWST’s transformation into an NPI machine, where new products leverage the same manufacturing infrastructure to expand addressable markets without adding proportional risk. The pivot toward selling data files rather than physical DNA strands to AI-driven pharma and tech companies is a significant margin and revenue tailwind, effectively moving TWST further up the drug discovery value chain. With $197.9 mln in cash and a raised revenue guide, TWST is proving it can fund its own expansion into the massive $12 bln total addressable market it envisions by 2030.
Revvity Finds Its Rhythm: EPS Upside, Diagnostics Strength, and a Leaner Growth Story (RVTY)
Revvity is trading lower despite delivering its largest EPS upside in the past five quarters. While revenue growth of 5.9% yr/yr to $772.1 mln was not eye-catching on the surface, it came in meaningfully above analyst expectations and marked the company's strongest top-line growth since 3Q21. Revvity also issued initial 2026 guidance, exceeding consensus estimates for both EPS and revenue.
- Management expressed satisfaction with strong Q4 execution despite headwinds from NIH funding changes, evolving tariffs, pharma policy uncertainty, the extended U.S. government shutdown, FX movements, and drug-volume shifts impacting its Diagnostics business in China.
- Life Sciences segment revenue increased 2% yr/yr to $382 mln, reflecting modest growth but improving trends. Sales of reagents and consumables exceeded expectations, and demand for Life Sciences instruments continued to improve during Q4.
- The Diagnostics segment outperformed, with revenue rising 10% yr/yr to $390 mln. Both reproductive health and immunodiagnostics came in better than anticipated.
- Revvity continues to deploy capital aggressively through share repurchases, buying back over $800 mln in 2025 alone and more than $1.5 bln since mid-2023, reducing its share count by roughly 12%. Management views this robust buyback activity as a vote of confidence in its transformation amid elevated market uncertainty.
- Speaking of its transformation, the company is now a more focused life sciences and diagnostics pure play, following PerkinElmer's portfolio reshaping. Revvity has divested non-core assets and repositioned toward higher-growth, recurring revenue streams centered on reagents, diagnostics, software, and services rather than broad analytical instrumentation.
Briefing.com Analyst Insight:
Revvity's results were better than they appear at first glance, highlighted by its strongest EPS upside in over a year and its highest revenue growth rate since 2021. While Life Sciences growth remains modest, trends are clearly stabilizing and improving, particularly in reagents, consumables, and instruments. Diagnostics continues to be the standout, delivering double-digit growth despite geopolitical and funding-related headwinds. The market's muted reaction likely reflects lingering macro and policy uncertainty rather than company-specific execution issues. With disciplined capital returns and a more focused business model following its transformation from PerkinElmer, Revvity appears well positioned for gradual acceleration, though near-term sentiment may remain choppy.
Walt Disney's strong Q1 results overshadowed by streaming reporting shift (DIS)
Walt Disney (DIS) delivered a robust start to FY26, though the stock is selling off sharply following the release as the company shifts its reporting narrative from subscriber counts to bottom-line profitability. While DIS managed to beat EPS and revenue expectations and reaffirmed its FY26 guidance of "double-digit adjusted EPS growth," the decision to cease reporting specific subscriber numbers for Disney+ and Hulu may be creating some disappointment among investors.
- The Experiences segment revenue crossed the $10.0 bln mark for the first time, growing 6% yr/yr driven by expansion at every theme park and robust demand for the Disney Cruise Line.
- Streaming (SVOD) operating income surged 72% to $5.35 bln, as the segment moves toward a 10% margin goal for the full fiscal year.
- The theatrical slate reclaimed its dominant position with three $1 bln titles in 2025: Avatar: Fire and Ash, Zootopia 2, and Lilo & Stitch, pushing annual box office totals over $6.5 bln.
- DIS entered a three-year licensing agreement with OpenAI to integrate Sora-generated short-form content featuring 250 Disney characters into the Disney+ platform.
- Domestic park bookings are pacing 5% higher for the full year, with Walt Disney World benefiting from strong pricing and attendance trends.
- ESPN reported its most-watched college football regular season since 2011, while the acquisition of the NFL Network and RedZone channel bolsters its upcoming "first-ever" Super Bowl broadcast.
Briefing.com Analyst Insight:
DIS's 1Q26 results signal a pivot toward sustainable profitability, yet the stock sell-off reflects unease over the cessation of specific subscriber reporting. Management is prioritizing revenue realization via bundling, which has successfully reduced churn. CFO Johnston’s 10% streaming margin target indicates a transition to business maturity. With NFL RedZone integration and a unified Disney+/Hulu app coming by year-end, DIS is betting its IP bedrock can decouple valuation from legacy headwinds. Regarding CEO succession, Bob Iger noted he is coming towards the end of his tenure and is focused on preparing the company for a "probable transition". He emphasized that the 2023 reorganization, which gave creative leads direct accountability for streaming P&L, leaves his successor with a good hand and a structure built for evolution rather than the status quo.
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