Wall St Advances as Tech Bounces Further Off Losses

The S&P 500 and Nasdaq gained after a shaky start as tech stocks recovered from last week's AI-driven selloff.

Feb. 9, 2026 at 4:07pm

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The S&P 500 and Nasdaq indexes gained on Monday as technology stocks rebounded from last week's selloff sparked by concerns over the impact of artificial intelligence (AI) on the sector. The S&P 500 technology sector and software services index recovered some of their recent losses, with Oracle getting a boost from a ratings upgrade. Investors are now awaiting key economic data releases that could provide insight into the Federal Reserve's interest rate plans.

Why it matters

The technology sector has been highly volatile in recent weeks as investors grapple with the potential disruptions caused by the rapid advancements in AI. This volatility has rippled through the broader market, making it crucial for investors to understand the underlying dynamics driving these swings. The upcoming economic data releases could also significantly impact the Fed's monetary policy decisions, which in turn affect the overall market performance.

The details

The S&P 500 and Nasdaq indexes gained on Monday, with the technology sector and software services index rebounding after a steep selloff last week. Oracle was a notable gainer after receiving a ratings upgrade from D.A. Davidson. The broader tech sector was also supported by comments attributed to Sam Altman, the CEO of Microsoft-backed OpenAI, who reportedly told employees that the company's ChatGPT AI chatbot was seeing strong growth. While the software index still has ground to make up, the tech sector as a whole is progressing closer to its pre-selloff levels.

  • The S&P 500 and Nasdaq gained on Monday, February 9, 2026.
  • Last week, the technology sector and software services index experienced a steep selloff sparked by concerns over the impact of artificial intelligence.

The players

S&P 500

A stock market index that tracks the performance of 500 large-cap U.S. publicly traded companies.

Nasdaq

A stock exchange that is home to many of the world's largest technology and internet companies.

Oracle

A multinational computer technology corporation that specializes in developing and marketing enterprise software products.

Sam Altman

The CEO of OpenAI, a research company that develops artificial intelligence systems.

OpenAI

An artificial intelligence research company that is backed by Microsoft and develops advanced AI systems, including the ChatGPT chatbot.

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What they’re saying

“You've a sharply oversold market where a little bit of good news can go a long way.”

— Keith Lerner, Chief Investment Officer at Truist Advisory Services (Reuters)

What’s next

Investors will be closely watching the January nonfarm payrolls report due on Wednesday, February 15, 2026, as well as the January Consumer Price Index data scheduled for release on Friday, February 17, 2026. These economic indicators could provide insight into the Federal Reserve's future interest rate decisions.

The takeaway

The technology sector's volatile performance in recent weeks highlights the significant impact that advancements in artificial intelligence can have on the broader market. Investors will need to closely monitor the industry's developments and the corresponding economic data to navigate the shifting landscape and make informed investment decisions.