Latest Finance-Economy News
Major Companies Set for Pre-Market Earnings on February 4, 2026
Eli Lilly (LLY), AbbVie (ABBV), Uber (UBER), UBS, Boston Scientific (BSX), CME Group (CME), Brookfield Asset Management (BAM), Johnson Controls (JCI), Cencora (COR), Phillips 66 (PSX), and Yum! Brands (YUM) are slated to report earnings before market open. Several firms like BSX, CME, JCI, and COR have consistently beaten expectations in the past year, with favorable P/E ratios indicating stronger growth prospects than industry peers.
Analysts forecast BAM's EPS at $0.42, up 5% year-over-year.
Tech Selloff Ripples Through Asian Markets
Asian stocks are tracking a US tech-driven selloff, with weakness in Hong Kong as investors rotate out of tech amid AMD's disappointing AI outlook. South Korea and Japan markets opened lower, influenced by broader commodity shifts and global rotation to economically sensitive sectors.
Indian IT firms are hit hard by the global software stock decline fueled by AI disruption fears.
Bitcoin Plunges to $75,000 Amid Monthly Declines
Bitcoin has fallen nearly 12% in January alone, marking its fourth straight monthly decline and trading around $75,000-$76,000. Analysts note potential for further drops, with Novogratz commenting that 'pain' is part of crypto's ethos after recent losses.
The pullback aligns with broader market rotations and stop-loss triggers.
Gold and Silver Rally Sharply After Rout
Gold surged 5.6% while silver recovered, rebounding from historic lows amid stock market weakness. Bank of America remains bullish on gold and miners; commodity strength supports related stocks like oil and copper.
The rally coincides with dollar strength and Fed policy speculation.
Trump Nominates Kevin Warsh as Next Fed Chair
President Trump nominated Kevin Warsh for Fed Chair amid pressure on Jerome Powell for rate cuts, sparking bets on a dovish shift. Swaps traders price in a 25 basis point cut by July, potentially two or three this year as inflation eases.
Warsh's views may involve balance sheet adjustments and fiscal tightening influences.
KKR and Singtel Consortium Acquires STT GDC for $5.2 Billion
A KKR and Singtel-led consortium agreed to buy STT GDC, a data center firm, for $5.2 billion in a major APAC deal. This reflects rising appetite for infrastructure amid data center demand growth.
The transaction highlights private credit ramp-up in Hong Kong property recovery.
Oil Prices Rise on US-Iran Tensions Despite Ample Inventories
Oil gained as US shot down an Iranian drone in the Arabian Sea, though Trump says diplomatic talks continue. Shanghai crude futures followed Brent and WTI up 3%, boosting oil stocks.
Tensions push prices higher despite inventory surplus.
RBA Hikes Rates 25 Basis Points to 3.85%
Australia's central bank raised rates by 25 bps to 3.85% yesterday to combat price pressures. The Aussie dollar hit highest levels since 2023, with onshore yuan strengthening via PBOC reference rate.
ASX 200 faces pressure amid the hike.
US Stocks Close Lower as Tech Sells Off
Wall Street ended near session lows with tech in focus after AI trade unwind, though off daily lows. Rotation to economically sensitive sectors noted; fiscal stimulus and inflation control eyed for broadening rally.
Gold rebound and Bitcoin doldrums cap the session.
EU Proposes Critical Minerals Partnership with US to Counter China
EU offers US a critical minerals deal to check China's dominance amid supply chain concerns. This aligns with global shifts in commodities like copper up 3% and rare earth funding initiatives.
Indonesia's finance minister defends economy amid currency slump.
Nintendo Profit Disappoints Despite Memory Price Climb
Nintendo reported underwhelming profits even as memory prices rose, adding to tech sector woes. The miss contributes to broader Asian market pressures from US selloffs.
Investors watch for rotation impacts.