This week, markets were concerned about AI disrupting businesses, with Anthropic’s new legal tool causing a selloff in software. Additionally, GOOG plans to double capex to $175 billion by 2026, while AMZN plans to boost capex by nearly 60% to $200 billion, raising worries about AI profitability. Negative labor market reports included lower than expected private sector job gains, increased initial claims possibly due to weather, and JOLTS job openings lower than expected.

Next week, watch for the January nonfarm jobs report on Wednesday, January CPI report on Friday, December retail sales on Tuesday, Q4 employment cost index on Tuesday, and January NFIB small business optimism on Tuesday.

Read more at Nasdaq: Weekly Chartstopper: February 6, 2026