01 Stock Market

As of Feb 2, U.S. stock index futures performed as follows: Dow Jones futures fell 0.08%, S&P 500 futures fell 0.35%, and Nasdaq 100 futures fell 0.65%. The tilt lower suggests lingering caution after sharp moves in commodities and crypto, with rate and liquidity expectations in focus. The relative underperformance in Nasdaq 100 points to a softer tone across growth and AI-linked segments ahead of the opening bell.

Notable Stock Movers: Large-cap tech and AI-linked names were mixed, with catalysts driving outsized moves. NVDA down 1.07% at $189.08; TSLA down 1.59% at $423.55; AAPL down 0.65% at $257.80; MSFT down 0.57% at $427.82; META down 0.67% at $711.71. Funding headlines buoyed ORCL up 6%. Software and data analytics saw interest with PLTR up 1.73% at $149.12, while chip names were softer: AMD down 1.17% at $233.95, INTC down 0.82% at $46.09, U up 8%.

Crypto-exposed and leveraged vehicles reflected broader risk swings in digital assets and metals. MSTR down 6.97% at $139.27 and BMNR down 9.80% at $22.64. Semis beta was on display with SOXL down 2.90% at $60.00, while hedging interest lifted SQQQ up 1.99% at $67.58. Precious metals proxies diverged: GLD fell 1.39% at $438.75; AGQ up 0.81% at $161.45; GDXU up 1.81% at $289.21. Among ADRs, XPEV down 4.78% at $17.12.

02 Other Markets

• 10-year U.S. Treasury yield fell 0.18%, to 4.23%.

• U.S. Dollar Index rose 0.0381% to 97.18.

• WTI crude oil futures fell 4.62% to 62.20 USD/barrel; COMEX gold futures rose 1.21% to 4802.30 USD/ounce.

03 Key News

Trump to Launch $12 Billion Critical Mineral Stockpile to Blunt Reliance on China

President Donald Trump is set to launch a strategic critical-minerals stockpile with $12 billion in seed money, a bid to insulate manufacturers from supply shocks as the US works to slash its reliance on Chinese rare earths and other metals.

The venture — dubbed Project Vault — is set to marry $1.67 billion in private capital with a $10 billion loan from the US Export-Import Bank to procure and store the minerals for automakers, tech firms and other manufacturers.

Details of the initiative, which would represent a first-of-its-kind stockpile for the US private sector, were described by senior administration officials, who asked not to be identified discussing a plan that has yet to be announced.

Oracle Stock Rises After Fitch Affirms BBB Rating Amid Debt Plans

Oracle stock rose 6% Monday morning, reversing an earlier 5% slide after Fitch Ratings affirmed the company’s credit ratings despite plans for substantial debt issuance.

The software giant had initially dropped after announcing intentions to raise $45 billion to $50 billion through debt and equity this year, raising concerns about its financial leverage. However, investor sentiment improved after Fitch assigned Oracle’s proposed benchmark size unsecured bonds a ’BBB’ rating while maintaining the company’s Long-Term and Short-Term Issuer Default Ratings at ’BBB’ and ’F2’ respectively, with a Stable outlook.

Investors Flock to Gold, Gold Miner ETFs in January in Bid for Safety

Investors flocked to exchange-traded funds of gold, other precious metals and gold miners in January, seeking safety amid geopolitical uncertainty, expectations of further dollar weakness, and growing bets on U.S. interest rate cuts.

According to LSEG Lipper data, ETFs of gold and other precious metals received $4.39 billion in January - their eighth consecutive month of inflows.

Gold miner ETFs received $3.62 billion worth of inflows, the highest since at least 2009.

Gold ETF inflows this month in $ million

Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.