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Here is Your Complete Market Rundown (02/06/2026)
Company News
, Inc. (AMZN)
Performance Overview
1D Change: -5.44%
5D Change: -12.14%
News Volume: 367
Unusual Volume Factor: 5x
Amazon Shares Plunge 8% as $200 Billion AI Spending Plan Sparks Investor Concerns Over Returns
Amazon stock tumbled over 8% on February 6, 2026, following the company’s Q4 2025 earnings report, which revealed plans to increase capital expenditures by more than 50% in 2026—totaling approximately $200 billion—primarily for AI infrastructure buildout through AWS. Despite beating revenue expectations with 12% year-over-year growth, the massive spending forecast overshadowed positive results and triggered widespread analyst downgrades.
Multiple Wall Street firms slashed price targets in response to margin compression concerns. Goldman Sachs cut its target to $280 from $300, Citi reduced its outlook to $265 from $320, and DA Davidson downgraded the stock to Neutral from Buy, citing concerns that AWS is “losing its lead.” UBS, Evercore ISI, and several other firms also lowered targets, though most maintained positive ratings on the stock’s long-term prospects.
The spending announcement contributed to broader market anxiety about Big Tech’s AI investments, with the four largest tech companies now projecting combined 2026 capital expenditures approaching $650 billion. Amazon’s disclosure came amid heightened scrutiny of AI returns following recent market volatility triggered by Anthropic’s legal automation capabilities, which sparked fears about AI disruption across the software sector.
CEO Andy Jassy defended the investment strategy, characterizing the AI opportunity as “very unusual” and stating that new AWS capacity is being monetized quickly. Several analysts, including those at Morgan Stanley and BMO Capital, supported this view, arguing that investors are “misunderstanding” the long-term opportunity and that AWS growth fundamentals remain strong. BMO Capital actually raised its price target to $310, citing confidence in AWS expansion.
However, concerns persist about near-term profitability. Citi analysts warned that Amazon’s free cash flow could turn negative due to the spending surge, while the company’s cautious profit guidance failed to reassure investors. The stock hit an eight-month low during trading, contributing to what analysts described as Big Tech’s $1 trillion market value wipeout for the week.
Despite the selloff, some market observers view the decline as a buying opportunity, noting that Amazon has historically delivered strong returns during previous capital-intensive buildout cycles, including the AWS expansion from 2016-2018 and fulfillment network investments in 2020-2022.
UBS Group Ag (UBS)
Performance Overview
1D Change: 0.3%
5D Change: -6.88%
News Volume: 131
Unusual Volume Factor: 1x
Goldman Sachs Downgrades UBS to Neutral as Wealth Management Outflows Overshadow Earnings
UBS Group faced a challenging trading day as Goldman Sachs downgraded the Swiss banking giant to neutral from buy, citing slowing efficiency gains from its Credit Suisse integration and concerns about the integration outlook. The downgrade came as shares headed for their worst week in nearly 10 months, pressured by significant outflows at the bank’s US wealth management business that overshadowed otherwise solid earnings results.
Despite the setback at its parent company, UBS’s research division remained active across markets. The firm issued numerous rating changes and price target adjustments on February 6th, including downgrades of Norfolk Southern and Banco de Chile to neutral, citing limited upside potential.
UBS also cut its price target on Amazon to $301 from $311 following the e-commerce giant’s 7.3% premarket decline, though the firm maintained a buy rating with 35% upside potential.
On the macroeconomic front, UBS analysts projected a March interest rate cut by the Bank of England following a dovish vote and sharper inflation downgrade. The firm also raised its Eurozone 2026 growth forecast and predicted the Swiss franc’s safe-haven appeal would wane, supporting a rise in the GBP/CHF currency pair.
In corporate coverage, UBS raised price targets on several industrial and technology names, including Cummins (to $565 from $500), Micron (to $450 from $400), and Bloom Energy (to $170 from $115). The firm lowered targets on software companies including Atlassian, Roblox, and OpenText amid sector headwinds.
Separately, UBS recruited a $1 billion advisor team from Bank of America’s Merrill Lynch, bolstering its wealth management capabilities. The firm also agreed to stabilize Danske Bank’s new fixed-rate covered bonds. Meanwhile, Cantor Fitzgerald announced plans to reduce O’Connor’s international presence following its acquisition of the hedge fund from UBS.
Nvidia Corporation (NVDA)
Performance Overview
1D Change: 7.68%
5D Change: -3.18%
News Volume: 124
Unusual Volume Factor: 1x
Nvidia Surges 8% as CEO Huang Defends AI Spending Boom, Dow Breaks 50,000
Nvidia shares rallied 7.8% on February 6, snapping a five-day losing streak in the chipmaker’s best session since April, as CEO Jensen Huang reassured investors that massive AI infrastructure spending remains sustainable. The stock added $325 billion in market capitalization, helping lift the broader technology sector and push the Dow Jones Industrial Average past the historic 50,000 milestone for the first time. Speaking to CNBC, Huang projected the AI buildout will take seven to eight years to complete, calling current demand “sky high” and “through the roof.”
He defended Big Tech’s planned $650-660 billion in capital expenditures for 2026 as “appropriate and necessary,” pushing back against concerns that companies are overspending on data centers. Huang specifically praised Meta’s AI implementation and noted that AI companies like Anthropic and OpenAI are generating revenue.
The rally came as major technology companies unveiled record infrastructure spending plans, with Nvidia positioned as the primary beneficiary of the AI chip demand surge. The company announced an additional $2 billion investment in CoreWeave and received approval to sell its H200 chips in China, though Huang acknowledged the market remains fraught with competitive challenges.
Despite Nvidia’s strong performance, broader market sentiment remained mixed. Amazon plunged 9% on earnings concerns, contributing to what analysts described as a $1 trillion wipeout across Big Tech stocks. The semiconductor sector showed significant volatility, with analyst reports suggesting Micron’s HBM4 supply forecast for Nvidia was slashed to zero amid quality concerns. Nvidia has declined 17% from recent highs as part of a broader drawdown affecting major technology stocks, with companies like Oracle down 60% and Salesforce off 43%. However, analysts lifted price targets for Nvidia following the surge in hyperscaler capital expenditure commitments, viewing the company as best positioned to capture AI infrastructure spending over the coming years.
The Goldman Sachs Group, Inc. (GS)
Performance Overview
1D Change: 4.26%
5D Change: -0.72%
Goldman Sachs Deploys AI Automation While Analysts Issue Mixed Stock Calls and Wall Street Bonuses Jump 10%
Goldman Sachs partnered with Anthropic to deploy Claude AI for automating accounting and compliance roles, marking a major technology adoption by the investment bank. The move comes as Goldman and other Wall Street firms including JPMorgan Chase and Bank of America raised bonus pools by at least 10%, rewarding strong dealmaking and trading performance. Goldman’s research analysts issued numerous rating changes, downgrading UBS to neutral on slowing integration efficiency while upgrading Vistra to buy with 43% upside after Meta’s nuclear power deal, and initiating Biohaven Pharma with a buy rating.
Technology, consumer, and alternative asset manager stocks saw widespread price target cuts. Amazon’s target was lowered to $280 from $300 amid broader downgrades that sent shares down 7.3% premarket, while Roblox, Reddit, and Peloton also saw sharp reductions despite Goldman maintaining buy ratings on Roblox and Reddit. Targets were cut on KKR, Ares Management, and Blue Owl Capital due to capital markets concerns, while StepStone’s target was raised and TPG’s buy rating maintained. Goldman strategists forecast the British pound sliding to a three-year low versus the euro amid UK political turmoil and rate cut expectations, noted that over two-thirds of equity hedge funds declined in a single session, and separately reported that former Goldman banker Tim Leissner began serving a two-year federal prison sentence for his role in the 1MDB fraud.
Geopolitics Events
German Firms Eye China as Trump Policies Bite; Administration Faces Legal and Diplomatic Pushback
German multinationals are cautiously shifting focus toward China in response to Trump administration policies. The administration faces mounting legal challenges, including a federal judge's sharp rebuke of efforts to end Temporary Protected Status for Haitian refugees. Trump officials deployed terrorist-grade sanctions against ICC judges and a UN Gaza expert, disrupting international justice operations according to a Reuters investigation. The EU warned TikTok about social media restrictions, risking tensions with Washington. Trump's tariffs have created a customs bond market boom, with billions now dependent on an upcoming Supreme Court ruling. Democratic Senator Elissa Slotkin is seeking assurances that intelligence agencies aren't targeting Americans for political purposes. Meanwhile, Trump-branded cryptocurrency tokens continue declining despite high trading volumes, with investigations into World Liberty Financial adding pressure.
Trump Deletes Racist Video Depicting Obamas as Apes After Backlash
President Trump removed a video from Truth Social that portrayed former President Barack Obama and Michelle Obama as apes following widespread criticism. The White House initially defended the post before attributing it to a staffer error. Senator Tim Scott, the only Black Republican senator, publicly criticized Trump for sharing the content. Separately, indirect negotiations between the US and Iran concluded positively, according to reports. Treasury Secretary Bessent expressed satisfaction with enrollment rates for new at-birth Trump accounts during a CNBC interview.
White House Considers Antitrust Investigation Into US Homebuilders
Trump administration officials are exploring launching an antitrust probe into the US homebuilding industry, according to Bloomberg News reports.
US Arrests Key Suspect in 2012 Benghazi Attack That Killed Four Americans
A suspect in the 2012 Benghazi consulate attack is now in US custody, Attorney General Pam Bondi and FBI Director Kash Patel announced Friday. The assault on the American compound in Libya resulted in four American deaths.
Trump Administration Sanctions ICC Officials as Racist Social Media Post Sparks Controversy
A Reuters investigation revealed Trump officials deployed terrorist-level sanctions against International Criminal Court judges and a UN Gaza expert, freezing assets and disrupting operations. Separately, Trump shared then deleted a racist video depicting the Obamas as apes on Truth Social, with the White House initially defending the post before attributing it to staff error.
Iran and U.S. Complete First Round of Indirect Talks in Oman
Iran and the United States concluded indirect negotiations in Muscat aimed at de-escalating Middle East tensions. Iran's foreign minister characterized the talks as having a "good start," though the foreign ministry spokesperson confirmed discussions have ended "for now" with no clear timeline for resumption.
Macro Events
Central Banks Signal Diverging Paths as Inflation Concerns Persist Globally
Central banks are charting different courses on monetary policy amid ongoing inflation challenges. The Bank of Japan's Masu emphasized the need for timely rate hikes to prevent inflation from exceeding the 2% target, stating further increases are necessary to complete policy normalization. Meanwhile, the European Central Bank revised its 2026 outlook, now expecting to hold rates steady rather than cut in March, with potential reductions delayed until 2027. The Bank of England's Pill expressed confidence in achieving the 2% inflation target smoothly, though geopolitical risks remain a concern. Markets now expect UK rates to bottom at 3.0% in Q1 2027. In the United States, Atlanta Fed President Bostic indicated policy clarity won't emerge until mid-2026, warning that inflation has remained elevated too long. The Fed held rates steady after three cuts in 2025, with Bostic emphasizing the paramount importance of returning inflation to the 2% goal.
Fed Officials Signal Caution Despite Economic Optimism
Federal Reserve Vice Chair Philip Jefferson expressed cautious optimism about the US economy, citing strong productivity growth that could help achieve the central bank's 2% inflation target while the job market stabilizes. However, San Francisco Fed President Mary Daly struck a more cautious tone, describing the current situation as "precarious" and emphasizing the need to monitor both sides of the Fed's dual mandate. Jefferson indicated the next rate decision will be data-dependent, with policy now near neutral range.
Canada Sheds 25K Jobs in January as Labor Force Participation Drops
Canada's economy lost 24,800 jobs in January, missing expectations of 5,000 gains, marking the first decline in five months with manufacturing leading losses. Despite job losses, unemployment fell to 6.5% from 6.8% as labor force participation dropped to 65.0%. Part-time positions declined 69,700 while full-time jobs added 44,900. Wage growth showed sharp disparities, with high-income households seeing 3.7% gains versus 0.9% for low-income workers.
German Industrial Output Drops Sharply Despite Export Surge
German industrial production fell more than forecast in December, while exports jumped 4.0% versus 1.1% expected. Spain's industrial output declined 2.5% monthly, missing estimates. France's trade deficit widened to €4.8 billion, reflecting mixed European manufacturing signals.
India Central Bank Holds Rates at 5.25% as Trade Deals Brighten Growth Outlook
The Reserve Bank of India maintained its policy rate at 5.25%, citing improved economic prospects from recent U.S. and EU trade agreements alongside increased government spending, though inflation forecasts were raised.
Treasury Secretary Bessent Reverses Tariff Stance as Central Banks Navigate Inflation Concerns
Treasury Secretary Bessent acknowledged his previous statement about tariffs being inflationary was mistaken, marking a significant policy shift. Central banks face diverging challenges: the ECB worries about excessively low inflation while the Bank of England expects rates to bottom at 3.0% by early 2027. Atlanta Fed President Bostic projects tariff impacts will dissipate by mid-year but warns inflation remains elevated. Speculation grows around Kevin Warsh's potential Fed chair nomination and its market implications.
EU Proposes Tougher Russia Sanctions While Extending US Trade Relief
The European Union unveiled new Russian sanctions replacing its oil price cap with a maritime services ban and restrictions on metal imports. Separately, oil prices climbed after the US sanctioned 15 entities and 14 vessels for Iranian oil trading. The EU extended its suspension of tariffs on $109.8 billion in US imports for six months.
Fed's Daly Signals Support for Additional Rate Cuts Citing Labor Market Concerns
Federal Reserve official Mary Daly indicates openness to one or two more interest rate cuts, citing vulnerabilities in the labor market that warrant continued monetary policy support.
US Consumer Sentiment Rises to 57.3 in February as Inflation Expectations Decline
University of Michigan's preliminary February consumer sentiment index climbed to 57.3, exceeding the 55.0 estimate and January's 56.4 reading. The improvement marks the first monthly gain since December, driven by easing inflation concerns. One-year inflation expectations dropped to 3.5% from 4.0%, while five-year expectations held steady at 3.4%. Current conditions rose notably to 58.3, surpassing the 53.7 forecast.
ECB Officials Signal Steady Rates as Inflation Expected to Hit Target
European Central Bank policymakers Escriva and Muller indicate interest rates will remain stable, citing balanced economic conditions and survey projections showing eurozone inflation returning to target next year.
Stock Markets Events
U.S. Markets Rebound as Tech Rout Eases, Value Stocks Outperform
U.S. stock markets rallied Friday, with the Dow Jones up 500 points and gaining 1.00% as investors reassessed AI-related risks following a week-long technology sector selloff. The S&P 500 and Nasdaq also advanced as software stocks staged a rebound after their brutal stretch. Value and cyclical stocks provided significant support, with the Dow Transports tracking toward its best week since June 2020. Individual movers included Palantir and Reddit surging higher, while Amazon declined on massive capital expenditure forecasts despite the broader market recovery. Bloom Energy and Yimutian also traded higher. In healthcare, Molina Healthcare moved lower in premarket trading alongside Coty and Illumina. The rotation from growth to value stocks marked the best seven-day return since 2003 for the value-growth spread.
Dow Jones Crosses 50,000 Milestone as Markets Rebound Sharply
The Dow Jones Industrial Average surged past 50,000 for the first time, gaining 1,000 points and leading the S&P 500 and Nasdaq higher as Wall Street recovered from a recent AI-driven technology selloff.
Belgium's Agomab Therapeutics debuts on Nasdaq at $716M valuation despite 8% opening decline
Clinical-stage biopharmaceutical firm Agomab Therapeutics opened 8.1% below its IPO price Friday on Nasdaq after raising $200 million, valuing the EQT Life Sciences-backed Belgian company at $716 million.
Technology Events
Tech Stocks Rebound as Big Tech Unveils $600-650 Billion AI Spending Plans Amid Market Volatility
Technology stocks recovered Friday following a sharp selloff earlier in the week, driven by major tech companies announcing massive AI infrastructure investments totaling between $600-650 billion. Nvidia shares surged after CEO Jensen Huang defended the spending as "appropriate and sustainable," projecting the AI buildout will take 7-8 years with demand remaining "sky high." The week's volatility drew comparisons to the dot-com bubble, with megacap tech stocks initially selling off as AI spending outpaced revenue growth. Amazon stock declined despite touting $200 billion in AI spending plans, while the S&P 500's information technology sector held above its 200-day moving average. LPL Financial's chief technical strategist noted buyers were entering at critical support levels. Corporate AI adoption accelerated, with Goldman Sachs partnering with Anthropic to automate banking tasks. The AI boom is reshaping multiple sectors: Williams explored gas asset acquisitions to supply AI data centers, nuclear plants gained renewed relevance for AI energy needs, and Bloom Energy scaled toward $3 billion on AI tailwinds. Travel stocks Booking and Expedia fell on AI concerns, while LegalZoom faced pressure from AI competition. MARA Holdings transformed into an AI cloud provider through the Exaion acquisition, and Gravity AI filed for a Nasdaq IPO.
Nvidia CEO Projects 7-8 Year AI Infrastructure Buildout as Demand Surges
Nvidia CEO Jensen Huang told CNBC that AI demand remains "sky high" amid what he calls a once-in-a-generation infrastructure buildout expected to span seven to eight years. Huang defended massive AI capital expenditures as necessary and appropriate, noting that Anthropic and OpenAI are generating revenue.
Big Tech AI Spending Hits $650 Billion as Investor Selectivity Increases
Major technology companies plan $650 billion in AI investments this year amid intensifying competition, while investors grow more discriminating about AI stocks, creating market contradictions and concerns about software makers' displacement.
Apple to Enable Third-Party AI Chatbots in CarPlay
Apple will allow external voice-controlled AI chatbots to integrate with CarPlay in coming months, marking a significant opening of its automotive platform to third-party AI services, Bloomberg reports.
Goldman Sachs Partners with Anthropic to Deploy Claude AI for Banking Automation
Goldman Sachs is implementing Anthropic's Claude artificial intelligence system to automate accounting and compliance functions, marking a significant adoption of AI agents in traditional banking operations, according to CNBC reports.
Crypto Events
Bitcoin Surges Nearly 11% to Reclaim $70,000 After Dipping Below $60,000
Bitcoin rebounded sharply above $70,000, marking its best day in years after briefly falling below $60,000. Ethereum also rallied, breaking above $2,000 amid the crypto recovery.
China Bans Unauthorized Yuan-Linked Stablecoin Issuance Abroad
China's central bank has prohibited entities from issuing yuan-linked stablecoins overseas without approval, intensifying the country's ongoing cryptocurrency crackdown and extending regulatory control beyond its borders.
Currencies Events
Dollar Weakens on Rising Claims as European Currencies Hold Ground
The US dollar wobbled following a spike in jobless claims, pressuring the DXY index. EUR/USD maintains its uptrend while consolidating recent gains. GBP/USD faces uncertainty from UK political risks and Bank of England policy outlook.
Real Estate Events
Zillow Stock Gains as Court Rejects Compass Challenge to Listing Rules
Zillow shares rose after competitor Compass failed to block the company's listing ban policy in court, while KeyBanc lowered its price target to $75 but maintained buying opportunity outlook.
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