[MARKET UPDATE] US equity futures extend on weakness as tech valuation fears resume; since AMC on Wednesday, GOOGL (-4.7%) hiked '26 capex plans, Stifel downgraded MSFT (-1.8%) as it sees '27 estimates too high & QCOM (-11%) issued weak next Q outlook

The recent sell-off in US equity futures, particularly driven by tech stocks, indicates renewed valuation concerns ahead of upcoming earnings.

Newsquawk StaffPublished 5 Feb 2026, 12:56 UTCOn the live feed at 12:36 UTC — 13 more headlines followed before this page went public

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12:43

BoE Governor Bailey (Q&A) says there is a tension that surveys show some signs of an uptick, but agents are more cautious; there is a tension there

12:37

UK and US signed MoU on critical minerals on 4th February 2026; announcing a partnership to drive investment in critical minerals supply chains

12:36

[MARKET UPDATE] US equity futures extend on weakness as tech valuation fears resume; since AMC on Wednesday, GOOGL (-4.7%) hiked '26 capex plans, Stifel downgraded MSFT (-1.8%) as it sees '27 estimates too high & QCOM (-11%) issued weak next Q outlook

12:30

BoE Governor Bailey (post-meeting statement) says based on current evidence, Bank Rate expected to be reduced further

12:30

Cummins Inc. (CMI) Q4 2025 (USD): Adj. EPS 5.81 (exp. 5.20), Revenue 8.54bln (exp. 8.15bln), sees FY26 revenue up between 3-8%

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Context

Specific downward revisions, such as Stifel's downgrade of MSFT and QCOM's weak outlook, suggest that expectations for these companies may be overly optimistic, which could pressure the broader tech sector and influence investor sentiment across equities. This market weakness may lead to increased caution among investors as they reassess tech valuations in light of these developments.

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