CNBC Business News Update Market Open: Stocks Lower, Investors Wait for Jobs And Inflation Data, Hims & Hers Shares Tank 2/9/26
Feb 9, 2026
Scott Gottlieb, former FDA commissioner and physician, gives concise analysis on drug absorption and regulatory knots. Mike Santoli, senior market commentator, breaks down market rotations and investor focus. They discuss semaglutide pill pull, DOJ referral, the shift from tech to cyclicals, and looming jobs and inflation reports.
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Tech To Old‑Economy Rotation
- Markets are rotating from tech to old-economy stocks, favoring cyclicals like railroads and oil.
- Mike Santoli highlights Caterpillar as a major contributor while Salesforce and Microsoft have dragged the Dow lower.
Investors Await Key Economic Data
- Investors are holding back ahead of key employment and inflation reports this week.
- Mike Santoli says the January jobs report will provide needed color on labor‑market weakness.
Regulatory Risk For Oral Semaglutide Copies
- Hims & Hers shares plunged after an FDA referral and DOJ involvement over an oral semaglutide copycat.
- Scott Gottlieb explains oral peptide absorption is difficult and Novo's patented technology likely underpins their advantage.