Wall Street Today in the Buzz

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Your pulse on Wall Street! WallStreetBuzz delivers real-time market intelligence, breaking news, and expert analysis. From opening bell to closing bell, we cover major movers, market trends, sector rotation, institutional flows, and the stories moving stocks
 

•  05 Feb 2026
 

•   AMD  
   
  +0.55%
•   AMZN  
   
  -0.08%
•   ARM  
   
  -1.35%
•   AVGO  
   
  +1.01%
•   CIEN  
   
  +0.75%

Wall Street closed firmly in the red as risk appetite continued to erode, with the Nasdaq sliding 1.6% and the S&P 500 and Dow each losing around 1.2%. A sharp selloff in technology shares remains the dominant theme, as investors digest earnings, reassess aggressive AI spending plans, and confront weaker macro data. Rising jobless claims, a drop in job openings to the lowest level since 2020, and the heaviest January layoff announcements since 2009 have reinforced concerns that growth may be cooling faster than expected.

BTC-USD tumbled more than 14%, breaking below the $64,000 level, while Ethereum followed with double-digit losses. The move underscores a broader de-risking across asset classes, with capital rotating away from speculative and high-beta plays. The ongoing regulatory stalemate in Washington over stablecoin legislation adds another layer of uncertainty for crypto-focused traders.

$AMZN traded steady ahead of earnings, but the real focus is AWS. After disappointment around Azure and broader cloud deceleration fears, investors are looking for roughly 21%–22% growth in the cloud unit. This report is viewed as a read-through not only for Amazon but for the entire cloud and AI infrastructure ecosystem. Guidance on capital expenditures and AI demand could set the tone for megacap tech into the next leg.

$GOOGL slipped despite beating quarterly expectations, as markets zeroed in on its projected $175–$185 billion in capital expenditures for 2026. The 48% surge in Google Cloud revenue reinforces the long-term AI narrative, yet the scale of spending is raising near-term margin questions. For traders, the debate is clear: is this disciplined investment for durable dominance, or an arms race that pressures profitability?

$AVGO gained momentum as Alphabet AI spending outlook fueled optimism for semiconductor demand, with investors betting that hyperscaler capex will translate into stronger chip orders. The path toward the $500 level reflects confidence that infrastructure suppliers may be the clearest beneficiaries of the AI buildout, even as volatility grips the broader sector.

$AMD rebounded after suffering its steepest single-day drop in more than eight years earlier this week. The move suggests tactical positioning around AI exposure, though sentiment remains fragile. High expectations and elevated valuations mean any sign of slowing demand could quickly reverse gains.

$QCOM fell after issuing revenue guidance below consensus, pointing to memory shortages and pricing pressure in smartphones. The miss highlights that not all semiconductors are riding the AI wave equally, and that consumer-facing segments remain vulnerable to macro softness.

$PLTR wasn’t the focus today, but software stocks broadly came back under pressure following renewed fears that AI-driven automation tools could disrupt traditional enterprise models. Nvidia CEO Jensen Huang pushed back against the panic, arguing AI will enhance rather than replace existing tools. Still, nearly $300 billion wiped from software valuations in a single session earlier this week lingers in traders minds.

$SNOW drew attention after announcing a $200 million AI partnership with OpenAI, embedding advanced models directly into its data platform. The deal reinforces the race among data and cloud players to integrate generative AI natively, though competition from Databricks and hyperscalers remains intense.

$MSTR plunged alongside Bitcoin, with its leveraged crypto strategy once again magnifying volatility. Analysts slashed price targets by as much as 60%, yet some maintained buy ratings, signaling that conviction in a crypto rebound still exists if sentiment stabilizes.

$PENN wasn't in the spotlight, but $PTON was, dropping 23% after issuing weak guidance and announcing a CFO departure. The sharp move reflects how unforgiving the market has become toward companies with fragile growth narratives in a risk-off tape.

$ARM declined despite a solid quarter, as softer forward guidance overshadowed the beat. With expectations elevated since its IPO, even minor signs of deceleration are enough to trigger profit-taking in high-multiple names.

$NIO rose after guiding to a potential operating profit in the fourth quarter, suggesting operational improvement after a prolonged period of pressure in the EV space. Meanwhile, global competition intensified as BYD widened its lead over Tesla in key European markets, signaling that pricing and scale dynamics remain in flux.

$CIEN advanced after securing inclusion in the S&P 500, a catalyst that typically drives passive fund inflows. Index changes often create technical tailwinds, especially in volatile markets where liquidity matters.

$SNAP surprised to the upside with a quarterly profit and double-digit revenue growth, shifting focus to operational improvements despite softer forward guidance. Traders appear willing to reward execution in a market that has been punishing uncertainty.

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