SPDR Dow Jones Industrial Average ETF (DIA)

Retail chatter on Stocktwits shows ‘ bearish’ sentiment for the SPY ETF, as well as tech-heavy QQQ.

Peter Tuchman flags a widening split between the S&P 500 and Dow as mega-cap tech spending tests investor patience.

As per a Bloomberg report, Citi strategists said the Fed could also opt to decrease the pace of its T-bill purchases from about $40 billion a month currently, or stop them altogether.

The economist added that the “buy on dips” sentiment led to a rebound in equities toward the end of the week.

Retail sentiment remained bearish on the SPDR S&P 500 ETF (SPY), while sentiment on the Invesco QQQ Trust (QQQ) slipped to neutral from bullish last week on Stocktwits.

The Dow Jones Industrial Average climbed over 2.3% to a 50,000 record, while the S&P 50 increased 1.72%.

The economist cited a recent Politico newsletter stating that, as Fed Chair, Kevin Warsh could bring a shift in the central bank’s communication.

According to BofA’s latest Flow Show report, as cited by MarketWatch, the firm’s proprietary Bull & Bear Indicator is currently at a nearly two-decade high of 9.6, the highest since March 2006.

Key catalysts for Friday include preliminary consumer sentiment data, remarks from Fed Vice Chair Philip Jefferson, and the consumer credit report.

Dow Jones futures were down by 0.27%, the S&P 500 futures fell 0.45%, and the tech-heavy Nasdaq 100’s futures declined 0.68%.

The firm stated that layoffs in January were the highest in January 2009, when 241,749 job cuts were announced.

An analyst noted that February has historically been a difficult month for equities.

Federal Reserve last week kept the benchmark rates unchanged during its first FOMC meeting of 2026.

The reschedule comes as a partial government shutdown impacted various agencies including BLS that is responsible for giving out key macroeconomic data, like jobs report, CPI numbers among others.

In a post on Truth Social, the U.S. President stated that the call was “long and thorough,” and added that his relationship with President Xi is extremely good.