Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, Feb. 6, 2026.<\/p>\n
Michael Nagle | Bloomberg | Getty Images<\/p>\n
Once again, good data seems to have been bad news for markets. U.S. stocks fell overnight, with the Dow snapping a three-day winning streak, following a better-than-expected jobs report<\/a> for January<\/a>.\u00a0<\/p>\n Jobs grew by 130,000 in January, according to the Bureau of Labor Statistics’ January nonfarm payrolls report, which was delayed on account of a partial government shutdown that ended Feb. 3.\u00a0<\/p>\n The numbers blew past expectations of 55,000 additions by Dow Jones-polled economists, and mark a sharp jump from December’s revised 48,000.<\/p>\n The strong jobs report reduced the likelihood of interest rate cuts by the Federal Reserve, dampening market sentiment. <\/p>\n The report had some red flags though: <\/a>Gains in job growth remained highly concentrated, mostly in health care-related sectors, raising questions over the ability of displaced and new workers to be able to get hired.\u00a0<\/p>\n The revised BLS release puts job gains last year at just 15,00 which, in the words <\/a>of Federal Reserve Governor Christopher Waller, means: “Zero. Zip. Nada.”<\/p>\n With such an unclear picture, investors are likely to adopt a wait and see approach in assessing the jobs market.\u00a0<\/p>\n AI-related fears also continued to sweep through stock markets, pulling shares of software companies lower Wednesday. ServiceNow<\/a> and Salesforce led losses overnight, retreating more than 5% and over 4%, respectively. OpenAI and SK Telecom, meanwhile, are looking to set up a data in South Korea.<\/p>\n Things aren’t looking much better on the crypto front either, with bitcoin on pace to be in the<\/a> red for a fourth straight week. The digital coin was last hovering around the $67,000 mark.<\/p>\n Over in Asia, Singapore is set to release its budget later in the day. <\/p>\n \u2014 CNBC’s Jeff Cox contributed to this report.<\/p>\n What you need to know today<\/p>\n The\u00a0House<\/a>\u00a0on Wednesday passed\u00a0a resolution<\/a>\u00a0disapproving of President\u00a0Donald Trump<\/a>‘s tariffs against Canada, a blow to Speaker Mike Johnson, R-La., and a rare Republican rebuke of the president’s signature economic policy.<\/p>\n AI fears, jobs data hit U.S. stocks. All three key Wall Street indexes slid <\/a>Wednesday after the January jobs report failed to assuage investors’ concerns about the labor market, and AI-related jitters continued to drag software stocks down. European stocks closed <\/a>mixed as investors assessed a slate of corporate earnings, including from Dutch brewer Heineken, which said it would cut thousands of jobs over the next two years.<\/p>\n Musk’s xAI undergoes reorganization. The SpaceX CEO said <\/a>in an X post<\/a> Wednesday that the firm’s xAI artificial intelligence venture implemented a reorganization that “required parting ways with some people,” but it was still “hiring aggressively.”<\/p>\n [PRO] Boom for funds that buffer against market drops. Investors seeking protection from market losses have piled into these products<\/a>, and demand for them is expected to continue, according to Morningstar analysts.<\/p>\n