General Market News

The Dow Jones Industrial Average surpassed 50,000 for the first time on Friday, marking the latest milestone in its 130-year history. The index's composition has evolved significantly over the decades to reflect economic shifts, with technology stocks now comprising seven members compared to none in earlier eras. The journey from 1,000 in 1972 to 50,000 today illustrates both market growth and the transformation of the American economy.

• The Dow reached key milestones at accelerating intervals: 1,000 (1972), 5,000 (1995), 10,000 (1999), 20,000 (2017), 30,000 (2020), 40,000 (May 2024), and 50,000 (February 2025), with the most recent 10,000-point gain taking less than two years.
• Technology's growing dominance is reflected in recent additions like Nvidia (replaced Intel in late 2024), Amazon (added early 2024), and Salesforce (replaced Exxon in 2020), while industrial stalwarts like Bethlehem Steel, Eastman Kodak, and Sears have been removed.
• The index rallied over 1,100 points on Friday to break 50,000, overcoming recent concerns about Trump's tariff plans and corporate AI spending that had pressured technology stocks earlier in the week.

The Dow Jones Industrial Average crossed 50,000 for the first time on Friday, driven by tech gains, strong corporate earnings, and expectations of lower interest rates. The index closed at 50,015.67, up 2.3% on the day, with the S&P 500 and Nasdaq also posting 2% gains despite recent pressure on tech stocks and cryptocurrencies.

• President Trump claimed credit for the market rally, linking it to his tariff policies which have reached their highest effective level since 1935, though many investors have adopted a 'Trump Always Chickens Out' stance
• Nvidia led the Dow's 30 stocks with CEO Jensen Huang defending high AI spending levels as sustainable, while Amazon was the worst performer after announcing $200bn in AI and robotics spending for the year
• Markets have rallied for months as investors largely dismissed geopolitical tensions and grew optimistic about the economy, despite recent scrutiny of AI investment levels and cryptocurrency volatility

Goldman Sachs is deploying autonomous AI agents built with Anthropic's Claude model to automate accounting, compliance, and operational finance tasks. The initiative, developed over six months with embedded Anthropic engineers, targets labor-intensive processes like transaction reconciliation, trade accounting, and client vetting that have traditionally resisted automation due to strict regulatory requirements.

• Goldman Sachs has spent six months embedding Anthropic engineers to co-develop AI agents for complex, rule-based financial tasks beyond simple coding
• 45% of CFOs currently use AI tools in structured finance areas like working capital monitoring and compliance oversight, the highest penetration across finance domains
• Nearly 7% of CFOs have already deployed agentic AI in live workflows, while 70% express high interest in using it for financial planning and analysis

The Dow Jones Industrial Average crossed the 50,000-point threshold for the first time on Friday afternoon, gaining over 1,000 points or more than 2.2% on the day. The milestone came as investors rallied following a sell-off in technology stocks earlier in the week.

• The Dow surpassed 50,000 points after 2 p.m. during Friday's trading session, marking a historic first for the closely watched index
• The index gained more than 1,000 points on the day, representing a 2.2% increase
• The rally occurred as investors responded to a prior rout in tech stocks earlier in the week

Consumer sentiment rose 1.6% in February 2026, driven by cooling inflation and improved current conditions, but remains 11.4% below year-ago levels. Workers, particularly those in hourly and essential roles, report flat income expectations and persistent job insecurity, limiting confidence in longer-term financial progress despite near-term improvements.

• Year-ahead inflation expectations fell to 3.5% (lowest since January 2025), while assessments of current conditions jumped 5.4%, though future expectations slipped
• Labor Economy workers score seven points lower on sentiment indexes than other workers, with 27.2% expecting to fall behind financially in 2026 versus 21.1% of non-Labor workers
• Job openings rate declined to 3.9% in December from 4.5% a year earlier, leaving 1.2 unemployed workers per opening compared to two openings per job seeker less than two years ago

U.S. stock markets surged on Friday with the Dow Jones climbing over 1,000 points to a record high, driven by a sharp rebound in semiconductor stocks after a brutal week-long tech selloff. Chip stocks led the rally with Nvidia up 7%, AMD up 7.5%, and Super Micro up 10%, though the S&P 500 remained on track for its worst weekly performance since December. The bounce reflects bargain-hunting rather than resolution of underlying concerns about massive AI infrastructure spending and uncertain returns.

• The Dow gained 2.6%, S&P 500 rose 1.7%, and Nasdaq climbed 2%, with the semiconductor index jumping 4.6% as investors bought beaten-down chip stocks
• Amazon fell 5% after forecasting capex to jump 50%+ to $200 billion for AI infrastructure, highlighting market concerns about near-term cash burn versus long-term AI payoffs
• A sector rotation is underway with money flowing from growth to value stocks, as industrials and financials rallied while the Russell 2000 small-cap index posted its best week since late November

U.S. Treasury Secretary Scott Bessent clarified that President Trump's weekend comment about potentially suing Fed chair nominee Kevin Warsh if he doesn't lower interest rates was made in jest. Bessent, responding to questions from Senator Elizabeth Warren during a Senate Banking Committee hearing, emphasized that Trump respects the Federal Reserve's independence.

• Trump made the controversial comment at a Washington dinner over the weekend regarding his Fed chair nominee Kevin Warsh and interest rate cuts
• Bessent told CNBC that Senator Warren 'seems to have no sense of humor' and failed to recognize the president's remark as a joke
• The Treasury Secretary stressed Trump's 'great respect for the Fed, for the Fed's independence' despite the controversial comment

U.S. markets experienced a turbulent week marked by widespread selloffs across tech stocks, cryptocurrencies, and commodities, with the S&P 500 and Nasdaq heading for weekly losses and slipping into negative territory for 2026. The volatility was driven by investor rotation out of tech sectors and a flood of mixed corporate earnings reports from major companies. The VIX reached its highest level since November as market uncertainty increased.

• Bitcoin plummeted below $61,000 during the first four days of the week before recovering Friday, while gold and silver also experienced significant volatility throughout the period
• The Dow Jones is on track for a weekly gain while the Nasdaq faces its fourth consecutive weekly loss, with both the S&P 500 and Nasdaq now negative for 2026
• Major earnings reports drove sector movements, with tech companies like AMD contributing to sector weakness while Dow members including Amgen staged post-earnings rallies

Wall Street rebounded Friday with the Dow surging over 1,035 points to nearly 50,000, hitting an all-time high, as technology stocks recovered from earlier weekly losses. The rally was led by chip companies like Nvidia and Broadcom, while bitcoin stabilized above $68,000 after a steep decline. Despite the gains, concerns persist about heavy AI spending by Big Tech companies and whether investments will translate to future profits.

• Nvidia rallied 6.2% and Broadcom climbed 5%, helping trim weekly losses exceeding 10% and 6% respectively, driven by optimism around AI chip spending including Amazon's planned $200 billion investment
• Bitcoin recovered above $68,000 after briefly dropping near $60,000, boosting crypto-related stocks with Robinhood jumping 13.5%, Coinbase rising 9.5%, and Strategy soaring 19%
• The S&P 500 is still heading toward its third losing week in four despite Friday's 1.7% gain, as investors remain uncertain whether massive AI capital expenditures will generate adequate returns

US stocks rebounded sharply on Friday with the Dow climbing 573 points (1.1%), S&P 500 up 0.9%, and Nasdaq advancing 0.8%, despite a volatile week driven by technology sector concerns. The gains pushed the S&P 500 back into positive territory for 2026, though both it and the Nasdaq remain on track for weekly declines of about 1% and 3% respectively. The rally occurred despite Amazon plunging 15% after disappointing earnings and announcing $200 billion in AI-related capital expenditures.

• Big Tech companies have lost over $1.35 trillion in combined market value during the week, with firms planning to invest approximately $660 billion in AI infrastructure in 2026, raising concerns about uncertain returns on massive spending commitments.
• Amazon's 15% decline contrasted with the broader market recovery, while other tech stocks rebounded with Nvidia up 3% and Microsoft up nearly 1% after suffering double-digit percentage losses earlier in the week.
• Apple emerged as a relative outperformer with less AI capital spending than peers, reporting 'staggering' demand that helped bolster investor confidence in its core business strategy.

Despite recent weakness in the broader technology sector, select AI stocks focused on data storage and memory continue to attract strong institutional investment. The article highlights Seagate Technologies and Micron Technology as companies experiencing significant institutional inflows while demonstrating robust earnings growth and positioning in AI infrastructure.

• Seagate Technologies (STX) shows 1-year sales growth of 38.9%, 3-year EPS growth of 99.1%, and is expected to grow EPS by 48.4% in 2026, with stock rising from around $150 to current levels following institutional buying.
• Micron Technology (MU) demonstrates 3-year sales growth of 20.3%, 3-year EPS growth of 409.2%, and 32.5% expected EPS growth this year, with shares climbing from approximately $120 in July 2025 to nearly $400.
• Money is rotating within tech rather than leaving the sector entirely, with data storage and high-bandwidth memory producers benefiting from AI server, smartphone, and cloud computing demand while other tech segments weaken.

Cathie Wood's ARK Invest purchased over 716,000 shares of Bullish (BLSH) worth approximately $17.83 million following the crypto exchange's Q4 earnings, while simultaneously selling 119,236 Coinbase shares worth $17.42 million. The moves come as cryptocurrency stocks face volatility, with bitcoin falling to 16-month lows near $60,000 before recovering to around $68,200.

• Bullish reported a Q4 loss of $3.73 per share, beating analyst expectations of a $4.03 loss, despite a 2.6% decline in digital asset sales to $64.3 billion
• The purchases were made across three ARK ETFs (ARKK, ARKW, ARKF), with Bullish now representing between 1.43% and 2.37% of each fund's holdings
• BLSH stock had fallen nearly 18% in February and was headed for a fourth consecutive month of steep losses before rebounding 5.6% following the ARK purchases

US stock futures pointed higher Friday morning with Nasdaq futures up 0.6%, attempting to recover from Thursday's tech-led selloff where the Nasdaq fell 1.6%. Amazon shares plummeted over 10% after hours despite strong sales growth, following the company's announcement of a $200 billion capex plan for 2026, $50 billion above forecasts, raising investor concerns about excessive AI infrastructure spending.

• Alphabet announced a $175-$185 billion 2026 capex plan, nearly double last year's spending, while Amazon's $200 billion AI infrastructure budget exceeded forecasts by $50 billion despite 14% sales growth to $213 billion and 26% AWS growth
• Investors are increasingly skeptical about 'hyperscaler' tech companies' massive AI spending plans, fearing wasted capital with uncertain returns as the AI bubble concerns resurface
• The tech selloff triggered broader market impacts with crypto in 'freefall' and precious metals weakening, as analysts describe it as 'a week from hell for tech stocks'

China is rapidly emerging as a biotech powerhouse, shifting from generic drugs to innovative medicines that are disrupting the global industry. Western pharmaceutical giants including Pfizer, Eli Lilly, and AstraZeneca have announced over $61 billion in deals to license or acquire Chinese biotech assets in 2025, representing more than 40% of total pharma deals. This transformation threatens U.S. and European biotech dominance while creating both partnership opportunities and competitive challenges.

• China now runs 39% of global cancer drug clinical trials versus 32% in the U.S., with Morgan Stanley predicting Chinese drugs could account for 35% of FDA approvals by 2030, up from just 5% currently
• Chinese biotech companies benefit from faster regulatory approval, government funding, flexible regulations, and lower development costs, allowing them to move from concept to clinical testing at roughly twice the speed of U.S. companies
• The BIOSECURE Act passed in December 2025 creates potential barriers by restricting federal funds for firms linked to foreign adversaries, while the Trump administration's focus on national security and onshore manufacturing may further complicate U.S.-China biotech partnerships

Adam Recker, head of equities at Mather Group ($15 billion in assets), advocates for global diversification in current markets as international stocks gain momentum after years of U.S. dominance. He recommends three ETFs spanning global equities, emerging markets, and international small-cap value stocks to capitalize on valuation gaps and growth opportunities. Despite elevated valuations, Recker maintains an optimistic but disciplined approach, emphasizing long-term planning over reacting to market concerns.

• Vanguard Total World Stock Index (VT) tracks nearly 10,000 global stocks with a 0.06% expense ratio, returning 22.43% in 2024 and 4.25% year-to-date as Recker's core global holding
• Dimensional Emerging Markets Core Equity (DFAI) surged 34% in 2024 and 7% year-to-date, benefiting from commodity strength, technology growth, and dollar weakness with a factor-based approach
• Dimensional International Small Cap Value (DISV) delivered 47% returns in 2024 and 9% year-to-date with a 3.8% dividend yield, targeting undervalued non-U.S. small companies trading below book value

Commodities analyst Jeff Christian warns that the U.S. economy shows signs of decline, with a weakening labor market, persistent inflation, and political uncertainty likely to trigger heightened market volatility in 2026. He argues that current interest rate cuts driven by slow growth and weak earnings will damage rather than support stock prices, contrary to typical economic cycles.

• Over 20% of global financial assets remain in cash as investors shift toward safe-haven commodities like gold, silver, and industrial metals amid economic uncertainty
• U.S. labor market shows significant weakness with initial jobless claims at 231,000 (vs. 212,000 expected) and job openings falling to 6.5 million (vs. 7.1 million expected)
• The Federal Reserve faces a 'stalemate' situation with producer price inflation near 3% while unemployment rises, caught between fighting inflation and preventing recession

U.S. technology stocks are experiencing a sharp selloff driven by concerns about AI's disruptive impact on business models, with the software sector falling 17% in just over a week. While investors see encouraging rotation into energy, consumer staples, and industrials, tech's one-third weight in the S&P 500 has erased the index's 2026 gains. The coming week brings critical economic data including January jobs numbers on Wednesday and CPI inflation data on Friday.

• The tech sector has dropped over 12% since late October, with software particularly hard hit amid disappointing earnings from Microsoft and fears that AI will create winners and losers rather than lifting all companies equally
• January payrolls expected to show 70,000 jobs added while jobless claims surged, with both employment and inflation data delayed by the recent government shutdown
• Markets expect the Federal Reserve to hold rates steady until June, pricing in roughly two quarter-point cuts by December despite 'somewhat elevated' inflation

U.S. stock index futures declined on February 6, 2026, with the Nasdaq-100 testing its critical 200-day moving average amid a broad tech sector sell-off. The weakness was driven by disappointing reactions to earnings from tech giants like Alphabet and Amazon, whose massive AI spending plans failed to reassure investors. The software sector is facing its worst week since 2008, signaling growing market skepticism about AI investments without clear financial returns.

• E-mini Nasdaq-100 futures fell 0.41% to 24,549.25, testing the 200-day moving average at 24,201.75 with potential further downside to 23,350 if support fails
• Amazon shares dropped after announcing significant AI infrastructure spending, reflecting investor concern that heavy AI investments aren't translating to financial returns
• The software sector is experiencing its worst weekly performance since 2008, with Qualcomm down 8.5% post-earnings and Alphabet falling despite beating earnings expectations

Asian stocks fell on Friday led by technology sector declines, with South Korea's KOSPI dropping 1.7% as investors retreated from tech stocks following AI developments. Indonesia's markets tumbled over 2% after Moody's downgraded the country's credit rating outlook, compounding concerns over policy uncertainty under President Prabowo Subianto and fiscal deficits.

• South Korean chipmakers Samsung and SK Hynix declined as concerns spread from U.S. tech markets after AI firm Anthropic's new legal tool raised worries about broader impacts on IT and software sectors
• Indonesia's rupiah fell to 16,885 per dollar (weakest since Jan 22) and foreign investors pulled $1 billion from equities in 2025 amid growing concerns over fiscal deficits and central bank independence
• Thailand and Japan hold elections on February 8, with Japan's expected ruling coalition win likely to reduce prospects for larger fiscal stimulus

Market leadership is broadening beyond tech stocks as cyclical and value sectors like Utilities, Energy, Industrials, and Financials gain momentum. Several major non-tech companies are hosting investor days and business updates in February-March 2026, which could provide insights into Main Street economic strength. These events follow the strongest U.S. manufacturing PMI reading since August 2022, potentially signaling a new phase of the bull market.

• Key corporate events include Xcel Energy (Feb 5), Williams Company (Feb 10), FedEx Investor Day (Feb 12), JPMorgan business update (Feb 23), and aerospace firms L3Harris and Howmet in late February-March
• Utilities and Energy sectors are seeing major investment shifts, with Williams announcing $5.1 billion in power innovation capex and 9% annualized growth projections amid rising U.S. power demand
• Defense and banking stocks have faced early 2026 pressure from regulatory concerns, including Trump administration proposals on defense contractor clawbacks and potential credit card interest rate caps