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Happy Wednesday. This is TheStreet’s Stock Market Today for Feb. 4, 2026. You can follow the latest updates on the market here in our daily live blog

Update: 10:03 a.m. ET

Opening Bell

Good morning. Less than an hour into trading, the U.S. markets are fairly balanced: 49.3% of U.S. equities (2,733 issues) are declining against 48.1% (2,560 issues) advancing.

The Dow (+0.52%) leads among major U.S .benchmarks, trailed by the Russell 2000 (+0.07%), which is up a few basis points. The S&P 500(-0.17%) and Nasdaq (-0.71%) continue their recent declines, with hopes for a leg higher today.

It seems the persistent theme across the markets are continuing their rotation out of tech-related firms. After strong earnings from Advanced Micro Devices (-14.3%), Palantir(-10.4%), EBay (-10.5%), and Micron (-5.8%), and are all seeing hefty declines today. On the bright side, Apple (+2.3%) and Microsoft (+1.1%) are among the few mega caps lifting this pocket of the market.

Despite that, the biggest decliners this morning are from a variety of sectors — largely reacting to earnings. Boston Scientific (-16%), Applovin (-15.4%), and Performance Food Group Company (-14.2%) are the worst-performing equities among the crop worth over $10 billion. On the flip side of that coin, MGM Resorts International (+12.5%), Super Micro Computer (+12.5%), and Fortive Corp. (+10.3%) are leading.

We’d be remiss if we didn’t touch on Eli Lilly (+7%), though. Blowing past expectations this morning, the company forecasted even steeper estimates for weight-loss drug sales in 2026. While analysts expected $77.62 billion in revenue, the company actually expects to make between $80 billion and $83 billion. Profits will also be higher than expected. That’s lifting the broader health care sector this morning as well.

Also a theme to watch: crypto-related stocks are continuing to struggle as bitcoin fell below $75,000 again. It’s down 4.7% over the last 24 hours, dragging down the broader universe of digital assets in the process. Much further a decline could trigger problems for publicly-traded digital asset treasury companies. It might also mean persistent declines for companies engaged in the sale of digital assets.

Heatmap: S&P 500

Chief among this morning’s started as a continuation of yesterday’s mega cap tech selloff. Not only did big software players continuing their drawdown, but so too did the semiconductor names. That seems to have been abating in recent minutes.

There are four S&P 500 sectors in the red today, including technology (-1.32%), communications (-0.44%), and utilities (-0.13%). Discretionary (-0.00%) is nearly flat.

Among the sectors in the green, materials (+2.09%) and real estate (+1.23%) are up more than one percent, while staples (+0.98%) and energy (+0.94%) are almost over that hump.

Here’s this morning’s S&P 500 heatmap:

Earnings Today: Alphabet, Eli Lilly, Abbvie

This morning, Eli Lilly kicked off today’s earnings with a bang, good for the market’s biggest reaction, up 7.34%. It was joined by other health care names like Abbvie, Novartis, and competitor Novo Nordisk. Here are the earnings and their respective reactions:

And coming up after the closing bell, tech has an opportunity to redeem itself with earnings out of Alphabet, Qualcomm, and Arm Holdings, among others. The message is clear: Miss at your own risk…

Economic Data: ISM Services, ADP Employment Change

Among the bigger reports from this morning have been the ISM Services PMI, which came in unmoved at 53.8. Here are the economic reports from this morning: