economy
February 2, 2026
2 reasons industrial stocks are among the leaders of Monday's market rally
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stocks traded higher, with the S&P 500 on track to break a three-session losing streak and reach a new record closing high.
- The U.S. and India have agreed to a trade deal that will reduce tariffs and increase U.S. product purchases by India.
- The ISM Manufacturing PMI report showed expansion in the manufacturing sector for the first time in 12 months, rising to 52.6.
- Investor confidence in OpenAI's funding was bolstered by Nvidia CEO Jensen Huang's reported commitment.
- Oracle's plan to raise $50 billion positively impacted investor sentiment regarding AI data center spending.
- The January jobs report will be delayed due to the government shutdown.
- Upcoming earnings reports include Palantir, Teradyne, NXP Semiconductors, and Simon Property Group after market close on Monday, and Eaton, PayPal, PepsiCo, Merck, Pfizer, Archer-Daniels Midland, Hubbell, and Gartner before market open on Tuesday.
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