Bitget UEX Daily Report | US-Japan-EU-Mexico Collaborate on Key Minerals Development; Nasdaq Introduces Fast Inclusion Rules; Software Stocks Continue Under Pressure (February 5, 2026)

I. Hot News

Federal Reserve Dynamics

US Bureau of Labor Statistics Delays Employment Data Release

• The US Bureau of Labor Statistics will delay the January non-farm payroll report to February 11, while CPI data is postponed to February 13, and the job openings and labor turnover report is adjusted to February 5.
• Key Points: The delay stems from government shutdown impacts; market expectations suggest non-farm data may indicate a low hiring environment; institutional views believe this exacerbates uncertainty in the Federal Reserve's interest rate path.
• Market Impact: The data vacuum period may amplify market volatility, leading investors to adopt a more cautious stance on Federal Reserve decisions, potentially supporting short-term dollar strength.

International Commodities

US EIA Crude Oil Inventory Sharply Declines

• The US Energy Information Administration report shows a decrease of 3.455 million barrels in crude oil inventory last week, the largest drop since 2016, mainly due to severe weather impacts.
• Key Points: API inventory decline reached 11.079 million barrels; the inventory reduction exceeded the expected drop of 6.7 million barrels; changes in gasoline and distillate inventories are not detailed.
• Market Impact: The sharp inventory reduction boosts short-term oil price rebound, but signals of geopolitical easing may limit gains; attention should be paid to potential impacts of Middle East situations on supply.

Macroeconomic Policies

US Announces Collaboration with Japan, Mexico, and EU on Key Minerals Development

• The US will sign a memorandum with Japan and the EU within 30 days, and formulate an action plan with Mexico within 60 days, aiming to develop key minerals needed for defense and other industries, and establish preferential trade zones.
• Key Points: The collaboration focuses on minimum prices and tariffs on non-members; aims to reduce dependence on specific countries; Middle Eastern countries urge the US to resume Iran nuclear talks, scheduled for February 6 in Oman.
• Market Impact: This move enhances supply chain stability, potentially reducing geopolitical risk premiums, but the formation of trade zones may intensify global resource competition, affecting commodity prices.

II. Market Review

Commodities & Forex Performance

• Spot Gold: +1.02% to 5016.11 USD/ounce, continuous rebound.
• Spot Silver: +2.09% to 90.007 USD/ounce, significant gains.
• WTI Crude Oil: +1.99% to 64.47 USD/barrel, driven by sharp inventory decline.
• US Dollar Index: +0.21% to 97.64, driven by economic data delays and Federal Reserve nominee influences.

Cryptocurrency Performance

• BTC: -4.28% to 73122 USD, continuous decline.
• ETH: -4.54% to 2261 USD, key feature being intensified market selling.
• Cryptocurrency Total Market Cap: Fell to 2.54 trillion USD, driven by overall selling pressure dominated by Bitcoin.
• Market Liquidation Situation: Long positions liquidated 437 million USD / Short positions liquidated 132 million USD, total amount 606 million USD.

US Stock Index Performance

• Dow Jones: +0.53%, continuous strengthening.
• S&P 500: -0.51%, key feature being drag from tech stocks.
• Nasdaq: -1.51%, sector-driven factors being AI-related valuation concerns.

Tech Giants Dynamics

• Apple: +2.6%, benefiting from market preference shifting to defensive stocks.
• Microsoft: +0.72%, supported by stable performance.
• Amazon: -2.36%, affected by overall pressure in SaaS sector.
• Google: -1.96%, Q4 revenue exceeded expectations but AI investment increases raise concerns.
• Nvidia: -3.41%, AI competition intensification triggers selling.
• Tesla: -3.78%, impacted by semiconductor chain influences.
• Meta: -3.28%, dragged by weak storage demand and social platform competition. Summary of rise and fall core reasons: Uncertainty in AI infrastructure investment and overvaluation trigger selling, with some giants benefiting from diversified businesses.

Sector Movement Observations

Semiconductor Sector Fell 3.78%

• Representative Stocks: AMD, -17.31%; Micron, -9%.
• Driving Factors: AMD's revenue outlook falls short of expectations, triggering concerns over AI chip competitiveness, leading to overall sector valuation reassessment.

SaaS Sector Fell about 1.45%

• Representative Stocks: Oracle, -5.17%; Shopify, -4.42%.
• Driving Factors: Rising risks in AI tools, with Anthropic's Claude Cowork plugin raising legal concerns, investors worried about profit models.

Weight Loss Drug Sector Mixed Performance

• Representative Stocks: Eli Lilly, +10%; Novo Nordisk, -6%.
• Driving Factors: Eli Lilly's strong Q4 revenue, Novo admits pricing pressure, market focuses on GLP-1 drug sales and competition.

III. In-Depth Stock Analysis

1. Google - Q4 Revenue Exceeds Expectations

Event Overview: Google's parent company Alphabet reported Q4 revenue of 113.828 billion USD, surpassing market expectations of 111.375 billion USD; 2026 capital expenditure expected at 175-185 billion USD, higher than the anticipated 119.5 billion USD. The company integrates Gemini AI, supplies 1 million AI chips to Anthropic, and assists Apple's Siri upgrade, investing heavily to counter competition from Amazon, Microsoft, and OpenAI. Previous background involves surging AI infrastructure demand, but valuation concerns lead to stock price fluctuations. Market Interpretation: Institutions believe strong revenue reflects advertising business resilience, but high capital expenditure may squeeze profit margins; Morgan Stanley maintains neutral rating, emphasizing long-term return potential of AI investments. Investment Insights: Short-term volatility increases, focus on AI application implementation; long-term optimistic about diversified growth.

2. Qualcomm - Q1 Revenue Meets Expectations but Q2 Outlook Weak

Event Overview: Qualcomm's Q1 adjusted revenue of 12.25 billion USD meets expectations; Q2 revenue outlook of 10.2-11 billion USD, below expected 11.2 billion USD, earnings per share of 2.55 USD below expected 2.89 USD. Weak phone chip demand due to storage shortages, company diversifying into automotive, PC, and data centers. This stems from supply chain bottlenecks, with prior causes including global chip shortages, and follow-up observation needed for demand recovery. Market Interpretation: Analysts point out phone business drags overall, but diversification strategy is recognized; Goldman Sachs lowers target price, citing significant short-term profit pressure. Investment Insights: Be cautious of slow phone market recovery; diversification areas may provide buffers.

3. AMD - Performance Falls Short of High Expectations Triggers Sharp Drop

Event Overview: AMD stock plummets over 17%, although performance is not poor but fails to meet high market expectations. The company faces intense competition from Nvidia in AI field, revenue outlook does not reach optimistic forecasts. Previous AI chip demand drove stock price up, but actual delivery disconnects from expectations, leading to selling surge. Market Interpretation: Institutional views diverge, Citigroup believes fundamentals are solid but valuation too high; Barclays downgrades rating, emphasizing competition risks. Investment Insights: Short-term risk aversion, wait for clarity in AI market share.

4. Eli Lilly - Q4 Revenue Surges 43%

Event Overview: Eli Lilly's Q4 revenue grows 43%, net profit increases 50%, benefiting from strong GLP-1 weight loss drug sales; 2026 revenue guidance of 80-83 billion USD, growth of 27%. The company surpasses Novo Nordisk, gaining advantage in price wars, previous background of explosive growth in obesity drug market demand, follow-up attention to capacity expansion. Market Interpretation: Analysts praise sales dominance, UBS raises target price, stating market share will further expand. Investment Insights: Pharmaceutical giants benefit from health trends, worthy of long-term holding.

5. Novo Nordisk - Admits Pricing Pressure

Event Overview: Novo stock falls over 6%, CEO admits unprecedented pricing pressure in 2026; Wegovy price cuts for volume, launches 3.8 billion USD buyback and dividend plan. Oral Wegovy tablets as future growth point, previous competition intensification triggers stock pullback. Market Interpretation: Institutions worry about profit compression, but Goldman Sachs maintains buy, emphasizing product pipeline potential. Investment Insights: Significant short-term pressure, focus on new drug progress.

IV. Cryptocurrency Project Dynamics

• US Treasury Secretary Bessent states he will not "bail out" Bitcoin, and the government's seized $500 million in Bitcoin has appreciated to $15 billion.
• Bitcoin developers call for Blockstream CEO Adam Back to resign due to Epstein files.
• CoinDCX CEO: Indian investors buy Bitcoin on dips, with investments becoming more rational.
• BLOCK announces token economics, with 50% allocated to the community.
• VIRTUAL launches 60-day framework, supporting reversible token issuance.

V. Today's Market Calendar

Data Release Schedule

Important Event Previews

• MicroStrategy, IREN, Amazon Earnings: After Hours - Focus on tech and crypto-related performance.

Bitget Research Institute Views:

US stock tech sector pressure stems from AI valuation bubble bursting, Nasdaq short-term bearish bias strengthens; gold rebounds above 5000 USD but seen as counter-trend rebound, not new bull market start, limited by dollar strength; crude oil inventory sharp drop supports rebound, but geopolitical easing signals may suppress gains; in forex, US dollar index slightly rises, benefiting from data delays and Federal Reserve personnel changes. Overall market volatility intensifies, suggest focusing on Federal Reserve path uncertainty, avoid chasing gold short-term, steer clear of high-valuation tech in US stocks.

Disclaimer: The above content is compiled by AI search, manually verified for publication only, and does not constitute any investment advice.