Market Movements: S&P 500 Declines Amid Retail Sales Concerns
On February 10, 2026, traders were bustling at the New York Stock Exchange, a microcosm of the broader financial landscape.
Recent data revealed that the S&P 500 index retreated, responding to disappointing retail sales figures, while investors grew apprehensive regarding the disruptive potential of artificial intelligence within the financial sector.
The S&P 500 witnessed a decline of 0.33%, ultimately concluding at 6,941.81. Meanwhile, the Nasdaq Composite experienced a more pronounced drop of 0.59%, closing at 23,102.47.
In contrast, the Dow Jones Industrial Average exhibited positivity, rising by 52.27 points, or 0.10%, to reach a record high of 50,188.14. Earlier, the index had achieved its third consecutive intraday record, marking a noteworthy moment after it breached the 50,000 threshold for the first time the previous week.
Retailers such as Costco and Walmart faced significant pressure on Tuesday, with their shares tumbling over 2% and 1%, respectively.
This downturn followed the release of a retail sales report that indicated stagnant consumer spending in December, failing to meet economists’ expectations of a 0.4% increase. Notably, retail sales had risen by 0.6% in November.
Investors eagerly anticipate a critical jobs report set for Wednesday and the consumer price index scheduled for Friday.
“The prevailing sentiment among lower- and middle-income consumers is influenced by their perceptions of the job market, which currently appears uncertain,” commented Anthony Saglimbene, chief market strategist at Ameriprise Financial.
He elaborated, “If job growth in January proves weaker than anticipated, this could complicate the broader economic outlook.”
Financial stocks also faced setbacks on Tuesday, particularly following the debut of Altruist’s new AI-driven tax planning tool. Shares of LPL Financial plummeted by 8.3%, while Charles Schwab and Morgan Stanley recorded declines of 7.4% and over 2%, respectively.
“There appears to be a shift towards sectors that may be more insulated from the AI trend,” Saglimbene noted, referencing recent surges within materials and utilities sectors.
Wall Street, however, has just emerged from two consecutive days of gains buoyed by a rebound in tech stocks, continuing the positive momentum initiated on Friday. The Dow achieved record highs both intraday and at closing.
Investors remain optimistic about the market’s ability to maintain its upward trajectory, as last week’s declines failed to significantly impact the market’s technical fundamentals.
Indeed, the S&P 500 has regained its footing above crucial support levels, specifically the 50-day and 100-day moving averages, following a brief excursion below these benchmarks last week. Moreover, various asset classes appear to be outpacing the index, serving as bullish indicators for market participants.
Source link: Cnbc.com.
