MPC Morning Call 9th February 2026 – Tech rebounds, but negative catalysts keep building
The move didn’t match the news on Friday as a bounce back in tech, led by Nvidia, is likely to be overshadowed by poor economic numbers
WATCH ON YOUTUBE MPC Morning Call 9th February 2026 – Tech rebounds, but negative catalysts keep building The move didn’t match the news on Friday as a bounce back in tech, led by Nvidia, is likely to be overshadowed by poor economic numbers Technology stocks dragged U.S. markets lower this week, with the Nasdaq on track for its worst performance since early April, down around 4%. The selloff was driven largely by investor concerns over massive AI-related spending among major tech firms. Amazon amplified these worries after projecting about $200 billion in capital expenditures for 2026—far above last year’s levels and analyst expectations. While Amazon Web Services revenue grew 24% to $35.6 billion, markets reacted negatively to uncertainty about when such heavy investments in artificial intelligence might deliver tangible returns. Beyond tech, several corporate earnings reports shaped Friday’s trading session. Stellantis shares slumped after the automaker announced $26 billion in charges tied to shifting away from electric vehicles, while Philip Morris stock dropped amid falling cigarette volumes. In contrast, Under Armour, Biogen, and Roblox all posted better-than-expected results, lifting their stocks. Their strong performances offered a bright spot in an otherwise downbeat week for equities. Economic signals also weighed on sentiment. U.S. job cut data showed the highest layoffs since 2009, jobless claims exceeded forecasts, and job openings came in weaker than expected, adding to concerns about labor market health. These factors increased expectations for potential Federal Reserve rate cuts, though investors remain focused on policy direction under Fed chair nominee Kevin Warsh. Meanwhile, oil prices declined for the first time in nearly two months, with Brent and WTI futures each down roughly 3% for the week, as traders monitored U.S.-Iran talks in Oman aimed at easing Middle East tensions. Government Bond Yields Commodities, Energy & FX ASX Overnight: SPI 8749 (+1.18%) The Day Ahead: The ASX bounce back solidly following the US lead. The day ahead Seek: Seek will record a $356 million post-tax impairment on its investment in Chinese job platform Zhaopin, cutting the stake’s value to $182 million from $529 million. The writedown reflects weaker market conditions and Zhaopin’s softer earnings outlook. As part of ongoing ownership restructuring, Seek’s stake is set to increase from 23.5% to about 30% without additional cash investment, while Zhaopin’s new management pursues a strategic shift toward emerging growth areas that may pressure margins through 2026 and 2027. CAR Group: Car Group reported a $143 million net profit for the half year, up 16% from the prior period, supported by strong U.S. performance and diversification initiatives. Pro forma revenue rose to $626 million, beating forecasts, while EBITDA slightly missed expectations. The company maintained its forecast for 12–14% revenue growth in FY26, citing continued double-digit expansion and benefits from AI-driven product development that enhance efficiency and customer experience without additional investment. Challenger Jobs USA
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