On the macroeconomic front, the U.S. ISM Manufacturing PMI for January 2026 significantly outperformed expectations, returning to expansion territory. The reading came in at 52.6%, well above the forecast of 48.5% and the previous figure of 47.9%. The New Orders Index reached 57.1%, up from 47.4% previously, indicating strong signals of a manufacturing recovery.

The U.S. ISM Non-Manufacturing PMI for January 2026 remained in expansion and was flat compared to the prior reading. It registered 53.8%, matching the expectation of 53.5% but slightly below the previous 54.4%, maintaining a moderate growth trend.

The U.S. JOLTS Job Openings for December 2025 fell to their lowest level in over five years. The number of job openings was 6.542 million, a decrease of 386,000 from the revised prior figure of 6.928 million, and below the expected 7.25 million, reflecting a continued weakening in labor demand.

U.S. ADP private sector employment growth for January 2026 was far below expectations. The addition of 22,000 jobs was significantly lower than the forecast of 45,000 and the revised prior figure of 37,000, indicating a notable slowdown in private sector hiring momentum.

Regarding major index performance for the week of February 2-6, the S&P Oil & Gas Index rose 4.00%, while the Nasdaq 100 Index fell 1.87%, and the S&P 500 Index declined 0.10%. Among the 11 sectors covered by the S&P 500, eight advanced, with the S&P 500 Consumer Staples sector leading gains, up 6.04%, and the S&P 500 Consumer Discretionary sector leading declines, down 4.57%.

In terms of allocation direction, U.S. stocks declined before recovering last week, while Bitcoin continued to fall. U.S. economic activity remained relatively resilient, though employment data was weak. Significant capital expenditures by AI giants renewed market concerns, leading to a pullback in technology stocks. Market expectations for interest rate cuts have slightly increased, with the first cut still anticipated in June. Regarding fourth-quarter earnings, 59% of S&P 500 companies have reported, with 76% exceeding expectations, slightly below the 82% rate in the third quarter of 2025. This week, attention remains on earnings reports and key economic data such as non-farm payrolls and CPI figures.

The S&P 500 Index is widely recognized as a benchmark for U.S. equities, covering over 500 representative listed companies across 11 sectors, primarily large-cap stocks, representing about 80% of the total U.S. stock market capitalization.

The Bosera Nasdaq 100 ETF (513390) is a domestic product tracking the U.S. Nasdaq 100 Index. According to Nasdaq index data, the Information Technology sector comprises 57.87% of the index, making it the primary component. The index also includes allocations to Consumer Services, Consumer Goods, Healthcare, and other sectors. The top ten constituents are all high-quality technology companies.

Data sources: Wind, Bloomberg.

The information in this report is based on publicly available data, and no guarantee is made regarding its accuracy or completeness. The content does not constitute actual investment results or investment advice. Data, unless otherwise specified, is sourced from Wind, as of February 6, 2026.

Investing involves risks; please choose carefully. The Bosera S&P 500 ETF (513500) and Bosera Nasdaq 100 ETF (513390) carry medium-high risk ratings. Investors are advised to read fund documents and understand the risks, including market volatility, liquidity, and currency risks for overseas investments. Past performance does not guarantee future results.