Stock Market Today: Stocks mixed after Japan election shakes global markets
This live blog is refreshed periodically throughout the day with the latest updates from the market.To find the latest Stock Market Today threads, click here.
Happy Monday. This is TheStreet’s Stock Market Today for Feb. 9, 2025. You can follow the latest updates on the market here in our daily live blog.
Update: 9:30 a.m. ET
Opening Bell
The U.S. markets are now open for the week. Barely 15 minutes after the market opened, the Nasdaq (+0.17%) and S&P 500(+0.09%) are up a few basis points. Meanwhile, the Dow Jones (-0.28%) and Russell 2000 (-0.20%) are facing declines after a fantastic Friday of trading for the respective indexes.
It’s too early to celebrate now though. Analysts at Goldman Sachs warned this weekend that last week’s surprising selloff might continue this week as institutional investors might consider further selling, a matter further exacerbated the recent tumult in commodity and crypto markets. Let’s dive into those big developments:
Commodities & Crypto Move
To that end, continuous futures in gold (+1.45% to $5,052) and silver (+4.61% to $80.44) have been seen rebounding after hefty declines over the last week. The two were seen as high as $5,626, and $121 respectively. Crypto has also seen a bounce after a steep selloff put cryptocurrencies like bitcoin (-2.7% to $69,226) and ethereum (-3.87% to $2,039.53) off more than 20% last week.
Those moves in commodities and crypto also offer a guide for how things could play out with equities, especially given recent interest in these assets among retail investors. While the recent selloff was likely connected per reports — the result of an unwind trade involving crypto, commodities, and equities — the ‘kindred spirits’ of the market are known to be more sensitive to large swings in assets. For that, we’ll have to keep an eye on these moves.
S&P 500 Heatmap
Just a few minutes after the market open, here’s how things are looking with the S&P 500 index:
Other Stories of Note
Also notable this morning, Oracle (+6%) is having its biggest intraday performance since December, we’ll have to see if that holds. These gains put them apart from the broader S&P 500 Tech sector, which isn’t even up 1% so far this morning.
On the flip side, one-time retail favorite Hims & Hers (-26%) is getting hammered after it announced it would stop selling compounded weight loss products on Saturday, a decision brought on by possible FDA action.
Crypto stocks are once again declining as digital assets declined over the weekend, undoing a portion of their comeback trade. Treasury businesses Strategy (-5%) and exchanges like Coinbase (-0.91%) are among the names tumbling today.
Update: 7:16 a.m. ET
A.M. Update
Good morning. This morning, U.S. futures are mixed after a healthy start to the futures trading session on Friday night. Stocks are buoyed today by optimism surrounding Friday’s comeback trade and a landslide win for Japan’s Liberal Democratic Party (LDP) in the country’s weekend election. Both have been read as positive boosts for the market.
The latter was a big market-mover in Japan, where the overwhelming victory of Prime Minister Sanae Takaichi’s party was read as a positive indicator for Japan’s economy and cost-of-living crisis. The country’s Nikkei 225 index surpassed 57,000 for the first time. However, there remain worries that the party’s embrace of aggressive fiscal policy could result in wider depreciation of the yen.
It might end up being the first major macroeconomic shakeup this week. With the resignation of two senior officials in the cabinet of United Kingdom Prime Minister Keir Starmer, it might be well that the country’s Labour party will be shopping for a new leader, with possible geopolitical implications of their own.
Here’s a look at what is on deck for today:
Earnings Today: Apollo Global, Becton Dickinson & Co, Arch Capital
This morning, there were a handful of big earnings, led by Apollo Global Management. In addition, Becton Dickinson & Co, Loews Corp, and Waters Corp were among the other large reports from the pre-market session.
After the market closes, we’ll have a handful of other reports on our hands. Here are the reports coming up:
Economic Events: Consumer Inflation Expectations, Fed Speeches
Today will be a light day for economic data and events, with Consumer Inflation Expectations at 11:00 a.m. ET and a handful of speaking engagements for Fed leaders today. Here is the slate:
