He Presidents Daywhich the US celebrates on the third Monday in February in honor of George Washington’s birthday, will maintain Wall Street closed today. Investors can take a break after last week’s falls and wait for the important references in the coming days.
The major New York indices had a mixed close last Friday. The Dow Jones rose 0.10% to 49,500.93 points, while the S&P 500 advanced 0.05%, to 6,836.17 points, and the Nasdaq It fell 0.22% to 22,546.67 points. The week, however, was clearly negative for all three: the Dow Jones fell 1.22%, the S&P 500 fell 1.38% and the Nasdaq fell 2.10%.
Wall Street has been heavily penalized by the fears that have arisen around artificial intelligencewhich are also beginning to affect not only technology stocks but other sectors. For JP Morgan’s market intelligence department, it is a sign that the market is having difficulty understanding the capabilities of the new technology.
“This is a market dominated by AI, both in a positive and negative sense, in which seemingly all sectors and subsectors take turns being declared obsolete,” reflect the JPMorgan analysts. “The reality is that the market is struggling to understand the full scope of what AI can do, from impressive audio and video functions to less impressive uses in consumer services, such as changing a flight.”
“We believe that it makes sense to refocus on macroeconomic fundamentalswhere the US is sending contradictory signals,” they add.
This week investors will have new references to pay attention to, with the focus on the Federal Reserve: on Wednesday the Federal Open Market Committee (FOMC) meeting minutes last January and on Friday the first estimate of the US GDP for the fourth quarter and the December personal consumption price index (PCE)price variable that is the most followed by the Fed.
Besides, The US Supreme Court has announced that it will issue opinions on February 20, 24 and 25being feasible that, as soon as Friday, it will issue its verdict on the Trump Government’s use of a national emergency law to implement widespread tariffs on all its trading partners. “What the Court says could provoke a strong reaction in the stock markets, we do not dare to say whether for better or worse, although there will be sectors of activity that will be greatly favored if the aforementioned tariffs are cancelled,” warns Juan J. Fernández-Figares, director of analysis at Link Securities. “It remains to be seen the reaction of the US Government, as well as many of its business partners, in the event that the Court determines the use of the aforementioned law as non-constitutional.”
In the business field, earnings season begins to face its final stretch, with several prominent names still presenting their accounts throughout the week. One of the most anticipated reports will be that of the retail giant Walmart, which will help provide clues about the evolution of consumption by American households. Analog Devices, Moody’s and Garmin, among others, will also present.
For now, the earnings season is being quite positive. According to calculations by Bankinter analysts, until last week 369 S&P 500 companies had presented accounts, with a average increase in earnings per share of +12.7%compared to the +8.8% expected before the publication of the first company. The qualitative balance is the following: 75% exceed expectations, 5% are in line and the remaining 20% disappoint. In the last quarter (Q3 2025) earnings per share increased by +14.9%, compared to the +8.5% expected.