Market U.S. stocks closed mixed on February 14, with all three major indices posting weekly losses. Applied Materials saw strong gains following robust revenue forecasts, ranking among the top 20 stocks by trading volume. Chinese ADRs ended unevenly—Alibaba fell 2.05%, while Tencent Music rose 4.52%. Oil prices edged higher as slowing inflation and OPEC+ output increase expectations balanced each other. COMEX gold futures climbed 2.17% to $5,050.50 per ounce. European equities were muted, pressured by bank stock declines and L'Oréal's earnings report.

Macro Former President Donald Trump warned Iran must offer an acceptable agreement to avoid military strikes. Trump suggested regime change in Iran would be "the best outcome." He confirmed plans to visit Venezuela, though timing remains undecided, and announced the deployment of an additional aircraft carrier to the Middle East. Trump stated Russia is open to a deal and urged Ukrainian President Zelensky to act faster. The U.S. government sued Harvard University over its admissions process. The U.K. and European allies are considering seizing Russian shadow fleet tankers. German Chancellor Merz called for a comprehensive overhaul of the U.S.-Europe alliance. Poland's foreign minister accused the U.S. of benefiting from the Ukraine conflict while denying Europe a voice.

Corporate SpaceX is exploring a dual-class share structure in a potential IPO to reinforce Elon Musk’s control. OpenAI was selected to provide voice-control technology for a U.S. drone swarm challenge. Musk’s banking team is discussing debt restructuring plans for a potential merger of SpaceX and xAI. Amid a selloff in software stocks, Goldman Sachs launched a basket of equities deemed resistant to AI disruption. Citadel’s three flagship funds saw net profits drop 22%, partly due to high employee compensation. The U.S. authorized oil majors to expand operations in Venezuela and pursue new energy investments. Multiple U.S. sectors, from software to real estate, faced an AI-panic-driven selloff. DP World’s chairman Bin Sulayem resigned after revelations of ties to Jeffrey Epstein. Meta plans to introduce facial recognition technology to its smart glasses.

Commentary U.S. equities were pressured by AI disruption fears, with the S&P 500 logging its worst weekly performance since November. Chicago Fed President noted further rate cuts depend on inflation trending toward 2%. Gold reclaimed the $5,000 level as mild inflation reinforced expectations of Fed easing. U.S. Treasuries rallied on CPI data, steepening the yield curve. German bonds posted their largest weekly gain since April 2023, with 10-year yields falling for eight consecutive sessions. Venezuela’s major early opportunity may lie in natural gas rather than oil. The U.S. Justice Department accused Harvard of failing to submit documents related to an admissions discrimination probe. Asset manager Capital Group expects the ECB to raise rates in 2026, contrary to mainstream forecasts. WTI crude posted its first back-to-back weekly decline of the year as traders weighed Iran tensions and OPEC+ output plans. CFTC data showed speculators increased net short positions on the U.S. dollar to the highest since June.