Market Recap: Nasdaq Surges 0.9% as Silver Soars 8.2%; Trump Economy Criticized by JPMorgan

The U.S. market closed with a mixed but generally bullish tone on February 9, 2026, as the Nasdaq Composite led gains while commodities like silver and gold rallied sharply. The Dow Jones Industrial Average (DJI) edged up 0.04% to $50,135.87, the S&P 500 (SPX) rose 0.47% to $6,964.82, and the Nasdaq Composite (IXIC) surged 0.90% to $23,238.67. Commodities saw robust gains: WTI crude oil futures climbed 1.35% to $64.41, gold futures jumped 2.15% to $5,087, and silver futures exploded 8.20% to $83.200—the largest single-day move in the dataset. Sectors were split, with Energy (+1.12%) and Materials (+2.66%) leading, while Consumer Staples (-0.90%) and Health Care (-0.53%) lagged. The market’s optimism was tempered by concerns over macroeconomic fundamentals, as highlighted by JPMorgan’s David Kelly, who warned of a "soggy" economy.

Hot Stocks

Tech Giants:

• Microsoft (MSFT): +3.11%
• Nvidia (NVDA): +2.50%
• Meta (META): +2.38%
• Tesla (TSLA): +1.51%
• Apple (AAPL): -1.17%

Energy/Minerals:

• Alamos Gold (AGI): +9.16%
• Coeur Mining (CDE): +7.42%
• Franco-Nevada (FNV): +7.00%

High-Flyers:

• Ubiquiti (UI): +14.47%
• AppLovin (APP): +13.19%
• CCH Holdings (CCHH): +135.19%

Laggards:

• Amazon (AMZN): -0.76%
• Gaxos (GXAI): -15.17%

Analysts Opinions

JPMorgan’s David Kelly issued a stark warning about the U.S. economy, calling it "soggy" despite the stock market’s rally. He highlighted weak consumer spending, stagnant job growth, and a sour public mood, noting that median household income growth lags far behind average income. Kelly also warned of political risks for the Trump administration, predicting a likely Democratic takeover of the House in November 2026. Meanwhile, Societe Generale’s Albert Edwards echoed concerns about income inequality and the "Peter Pan world" of Wall Street propping up the real economy. Both analysts emphasized that the current market optimism is at odds with the struggles of Main Street, particularly in sectors like housing and retail.

Macro & Corporate News

Alphabet’s $20B AI Bond Sale: Alphabet raised $20 billion via a bond offering to fund its $185 billion AI infrastructure spending plan, signaling aggressive long-term bets on AI-driven growth. Medpace’s Q4 Beat: Clinical research firm Medpace (MEDP) reported 32% revenue growth and $4.67 GAAP EPS, exceeding estimates by 11.4%, with 2026 guidance above forecasts. Corebridge Financial’s Earnings Surge: Corebridge (CRBG) delivered 35.7% revenue growth and $1.22 non-GAAP EPS, surpassing estimates by 9.7%, driven by strong premium growth. Trump’s Tariff Rebate Plan Dead: JPMorgan’s Kelly noted the administration’s $2,000-per-household rebate idea is "dead on arrival" in Congress, with Treasury Secretary Bessent calling tariffs a "shrinking ice cube." Anthropic’s India Name Dispute: Anthropic faces legal challenges from a local firm named Anthropic Software, highlighting tensions as global AI firms expand into India’s market. Silver’s Record Rally: Silver futures surged 8.2% to $83.200, driven by speculative buying and macroeconomic uncertainty, outpacing all other commodities in the session.