Market Snapshot Before the Opening Bell

U.S. stock futures pointed toward a softer start on February 2, 2026 as investors evaluated fresh concerns around technology spending and corporate earnings ahead of the trading session. Major benchmarks including the Dow Jones Industrial Average, S&P 500 and Nasdaq were all expected to open lower this morning, reflecting profit-taking and caution after recent market volatility.

1. Futures Point Lower as Tech Stocks Slide

Pre-market indexes indicated a weaker tone for the day’s trading, with futures tied to the S&P 500 and Nasdaq down, while Dow futures showed a modest slide. Investors were weighing a mix of earnings news, economic data expectations and renewed questions over how aggressively companies will invest in artificial intelligence initiatives.

Broader commodity markets also reflected this risk-off sentiment: crude oil futures were lower by more than 4%, while gold futures ticked up slightly as traders sought perceived safety amidst uncertain conditions. Bitcoin recovered modestly in pre-market activity after sliding to its lowest levels in months.

2. Disney Beats Earnings But Investor Focus Shifts

The Walt Disney Company reported quarterly results that topped Wall Street expectations, driven by better-than-expected streaming revenue growth and strong theme park performance. Revenue reached nearly $25 billion with adjusted earnings per share that exceeded analyst forecasts.

Despite the positive earnings surprise, Disney’s stock saw some pressure in early trading as attention turned toward possible leadership changes. Reports suggest CEO Bob Iger may step down before his contract ends in late 2026, with Parks division head Josh D’Amaro emerging as a leading internal contender to succeed him.

3. Nvidia-OpenAI Deal Concerns Pressure Chipmaker Shares

Technology giant Nvidia, a key player in the AI hardware space, faced renewed investor skepticism after reports emerged that its planned multibillion-dollar investment in OpenAI could be in jeopardy. Sources said internal disagreements and heightened competition from rivals may cause the originally announced $100 billion funding plan to be scaled back or restructured.

Shares of Nvidia fell moderately in pre-market trading on this news, as traders reassessed earnings prospects and growth expectations tied to the company’s AI-focused strategy.

4. Palantir Earnings Scheduled After Market Close

AI software firm Palantir Technologies was slated to release its quarterly earnings report after the market closes today. Although the stock has retraced significantly from its 2025 peak, analysts still surveyed mixed sentiment with many debating whether the stock’s valuation accurately reflects future growth potential.

Investors were closely watching Palantir’s results for any clues about government contract strength and commercial sales expansion, both of which remain key drivers of future revenue for the company.

5. Oracle Announces Major Capital Raise to Expand AI Infrastructure

Software giant Oracle revealed plans to raise up to $50 billion through a combination of debt and new equity to fund an expansion of its AI infrastructure capabilities. The company aims to support large enterprise clients and ongoing demand tied to significant deals, including its $300 billion contract footprint with OpenAI and other major partners.

Oracle’s share price moved higher in pre-market trading as investors factored in the potential long-term benefits of increased capital deployment, even amid broader market downside pressure.

Economic and Market Context

Today’s session takes place against a backdrop of mixed global economic signals. While the U.S. economy continues to show strong labor market trends and resilient corporate earnings in some sectors, geopolitical tensions and monetary policy expectations continue to fuel volatility. Investors are also looking ahead to key data releases later in the week, including the U.S. jobs report and inflation indicators that could influence Federal Reserve policy expectations.

Summary for Traders and Investors

Overall, early indicators suggest a cautious start to trading on February 2, 2026. Equity futures were softer, major tech shares faced pressure due to strategic concerns, and commodities reflected a risk-off tone. Corporate earnings from blue-chip firms and upcoming economic data releases are expected to play a central role in guiding market direction as the session unfolds.

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