Morning Market Preview — February 5, 2026
Markets open modestly higher as investors look for follow-through, with tech leadership intact and breadth still the key signal.
Market Setup
U.S. equity futures are modestly higher this morning as markets look to build on recent consolidation. Large-cap technology remains the primary support for indexes, while investors continue to watch for signs that participation can broaden beyond a narrow leadership group.
Macro & Rates
Treasury yields are steady in early trade as markets remain comfortable with the current Federal Reserve outlook. The dollar is little changed, and commodities are mixed, signaling a stable macro backdrop rather than a risk-off shift.
What to Watch Today
- Follow-through from recent earnings, particularly in mega-cap tech
- Market breadth and advance/decline trends
- Any meaningful move in Treasury yields
- Positioning ahead of upcoming economic data releases
Market Tone
Constructive and patient. Risk appetite remains intact, but conviction continues to favor earnings-backed leaders over broad market exposure.
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