Daily Market Report – February 9, 2026
After the clear electoral victory of Sanae Takaichi, the Nikkei jumped to a record level, closing at 56,364 points. The yen and Japanese government bonds fluctuated significantly. Investors are betting that the new majority will implement more extensive fiscal programs – at the same time, it remains unclear how the additional spending will be financed.
In the U.S., the S&P 500 rose by 0.67% and the Nasdaq by 1.21% (12:15 ET). The market was again supported by semiconductors; Nvidia NASDAQ:NVDA, Broadcom NASDAQ:AVGO, and Advanced Micro Devices NASDAQ:AMD saw increases, while investors are also preparing for a busy data week with the U.S. labor market report on Wednesday and U.S. inflation data on Friday.
A significant brake remains the debate over the investment appetite of the major platform companies: Amazon NASDAQ:AMZN ($200 billion), Alphabet NASDAQ:GOOGL ($175-185 billion), Meta Platforms NASDAQ:META ($115-135 billion), and Microsoft NASDAQ:MSFT (over $100 billion) have announced high capital expenditures during the recent reporting period, which will significantly reduce the free cash flows of the companies in 2026.
Following a report that Chinese regulators have urged banks to be more cautious with U.S. government bonds, Treasuries and the dollar came under pressure temporarily. The market views the report as further evidence that large creditors may reduce their USD exposure.
Extreme commodity volatility also remained a topic: Gold continued its recovery and was again priced above $5,000 per ounce – supported by a weaker dollar, speculative reallocations, and ongoing demand from China; at the same time, market observers warn of abrupt movements following last week's fluctuations. Silver also saw gains.