Squawk on the Street SOTS 2nd Hour: Big Tech’s Capex Plans, Amazon Stock Plunges, Musk’s Net Worth Passes $850B 2/6/26
Feb 6, 2026
Blake Moret, CEO of Rockwell Automation, a leader in industrial automation, talks company results and customer capital spending trends. He discusses practical industrial AI and how applied models are being used on the factory floor. He also addresses hiring outlook and cautious capex signals from manufacturing customers.
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Improved Sentiment Masks Uneven Consumer Strength
- Consumer sentiment rose to its best levels in months while one-year inflation expectations fell, easing some recession fears.
- However, sentiment gains were concentrated among consumers with large stock portfolios.
CapEx Is Hurting Tech Valuations Now
- Massive hyperscaler CapEx expectations have coincided with roughly $1.35 trillion of market-cap losses in major tech names this week.
- The market is worried CapEx will compress near-term free cash flow even as it aims to drive long-term growth.
Software Sector Pain Is Spreading To Debt
- Heavy AI investment is spreading pain beyond equities into the leveraged loan market for software firms.
- Replacement risk and reduced buyer demand threaten smaller, levered software providers' cash flows.