Daily Rundown

February 6, 2026

Chart of the Day

Number of the Day

-5.6 million - The decline in job openings since the record high of 12.1 million in March 2022

Quote of the Day

"We see this as an unusual opportunity and we're going to invest aggressively to be the leader." - Amazon CEO Andy Jassy

Thursday's Highlights

Initial unemployment claims (week of 1/25) rose by 22,000 to 231,000, likely driven in part by poor weather.

Job openings (December) fell by 386,000 to a five-year low 6.5 million.

Layoff announcements (January) totaled 108.435, up 117.8 percent year-over-year.

Amazon revenue (Q4) rose 13.6 percent year-over-year. The company estimated that capex would come in at roughly $200 billion this year.

Quick Commentary

Soaring capex plans are lifting the near-term upside risks for the economy just as they are also increasing the likelihood of a harder landing further ahead. It is difficult to calibrate business investment to future demand even during periods of relative calm, but it is nearly impossible in an environment like that at the present in which a new and rapidly growing technology is taking hold. Capex fell sharply after the overinvestment during the internet boom in the late 1990s, and it is a safe bet to follow a similar pattern in this cycle. A key difference in this case is a labor market that has already cooled significantly even with investment in a sharp upturn.

Today's Highlights

Consumer sentiment

Consumer credit

Daily Trivia

What entrepreneur traced his fortune to a patent for an "improvement in fastening pocket openings" filed in 1873?

(Thursday's Question: What NFL franchise has had the greatest economic impact on its local market in per capita terms, as evidenced by the data on hotel rates, tax receipts, and retail activity during its home game weekends? Answer: Green Bay Packers)