Bitget UEX Daily Report | US, Japan, Europe, and Mexico Collaborate on Key Mineral Development; Nasdaq Introduces New Fast-Track Listing Rules; Software Stocks Continue to Face Pressure (February 5, 2026)

# 1. Hot News

Federal Reserve Dynamics

U.S. Bureau of Labor Statistics Delays Employment Data Release

• The U.S. Bureau of Labor Statistics has postponed the January non-farm payroll report to February 11, while CPI data will be released on February 13, and the job openings and labor turnover report has been adjusted to February 5.
• Key points: The data delay is due to the impact of the government shutdown; the market expects non-farm data may reflect a low hiring environment; institutional views suggest this increases uncertainty regarding the Federal Reserve's interest rate path.
• Market impact: The data vacuum period may amplify market volatility, and investors may become more cautious about the Federal Reserve's decisions, potentially supporting a stronger dollar in the short term.

International Commodities

U.S. EIA Crude Oil Inventories Decline Sharply

• The U.S. Energy Information Administration reported that crude oil inventories fell by 3.455 million barrels last week, the largest drop since 2016, primarily due to adverse weather conditions.
• Key points: API inventory fell by 11.079 million barrels; the inventory decrease exceeded the expected drop of 6.7 million barrels; changes in gasoline and distillate inventories were not detailed.
• Market impact: The sharp decline in inventories boosted oil prices for a short-term rebound, but signals of easing geopolitical tensions may limit the extent of the increase, with attention on the potential impact of Middle Eastern situations on supply.

Macroeconomic Policy

U.S. Announces Cooperation with Japan, Mexico, and the EU to Develop Critical Minerals

• The U.S. will sign a memorandum of understanding with Japan within 30 days and develop an action plan with Mexico within 60 days, aiming to develop critical minerals needed for defense and other industries and establish a preferential trade zone.
• Key points: Cooperation focuses on minimum pricing and tariffs on non-member countries; aims to reduce dependence on specific nations; Middle Eastern countries urge the U.S. to resume nuclear talks with Iran, scheduled for February 6 in Oman.
• Market impact: This move enhances supply chain stability and may reduce geopolitical risk premiums, but the formation of a trade zone could trigger intensified global resource competition, affecting commodity prices.

# 2. Market Review

Commodity & Forex Performance

• Spot Gold: +1.02% to $5016.11/ounce, continuing to rebound.
• Spot Silver: +2.09% to $90.007/ounce, significant increase.
• WTI Crude Oil: +1.99% to $64.47/barrel, driven by a sharp decline in inventories.
• Dollar Index: +0.21% to 97.64, driven by delayed economic data and the impact of Federal Reserve nominees.

Cryptocurrency Performance

• BTC: -4.28% to $73122, continuing to decline.
• ETH: -4.54% to $2261, characterized by intensified market sell-off.
• Total Cryptocurrency Market Cap: Fell to $2.54 trillion, driven by overall selling pressure dominated by Bitcoin.
• Market Liquidation Situation: Long positions liquidated $437 million/short positions liquidated $132 million, totaling $606 million.

U.S. Stock Index Performance

• Dow Jones: +0.53%, continuing to strengthen.
• S&P 500: -0.51%, characterized by pressure from technology stocks.
• Nasdaq: -1.51%, driven by concerns over AI-related valuations.

Tech Giants Dynamics

• Apple: +2.6%, benefiting from a market preference shift towards defensive stocks.
• Microsoft: +0.72%, supported by stable performance.
• Amazon: -2.36%, affected by overall pressure in the SaaS sector.
• Google: -1.96%, despite Q4 revenue exceeding expectations, concerns over increased AI investment.
• Nvidia: -3.41%, intensified competition in AI triggered selling pressure.
• Tesla: -3.78%, impacted by the semiconductor chain.
• Meta: -3.28%, weakened by soft storage demand and competition among social platforms. Summary of core reasons for fluctuations: uncertainty in AI infrastructure investment and high valuations triggering sell-offs, while some giants benefit from diversified businesses.

Sector Movement Observation

Semiconductor Sector down 3.78%

• Representative stocks: AMD, -17.31%; Micron, -9%.
• Driving factors: AMD's revenue outlook fell short of expectations, raising concerns about the competitiveness of AI chips, leading to a reevaluation of the overall sector's valuations.

SaaS Sector down about 1.45%

• Representative stocks: Oracle, -5.17%; Shopify, -4.42%.
• Driving factors: Rising risks associated with AI tools, legal concerns triggered by Anthropic's Claude Cowork plugin, and investor worries 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, while Novo acknowledged pricing pressure, with the market focusing on GLP-1 drug sales and competition.

# 3. In-Depth Stock Analysis

1. Google - Q4 Revenue Exceeds Expectations

Event Overview: Google's parent company Alphabet reported Q4 revenue of $113.828 billion, exceeding market expectations of $111.375 billion; capital expenditures for 2026 are expected to be $175-185 billion, higher than the anticipated $119.5 billion. The company is integrating Gemini AI, supplying 1 million AI chips to Anthropic, and heavily investing to upgrade Apple's Siri in response to competition from Amazon, Microsoft, and OpenAI. The background is a surge in demand for AI infrastructure, but valuation concerns have led to stock price volatility. Market Interpretation: Institutions believe strong revenue reflects the resilience of the advertising business, but high capital expenditures may squeeze profit margins; Morgan Stanley maintains a neutral rating, emphasizing the long-term return potential of AI investments. Investment Insight: Increased short-term volatility, focus on AI application implementation; long-term outlook remains positive for diversified growth.

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

Event Overview: Qualcomm's Q1 adjusted revenue was $12.25 billion, meeting expectations; Q2 revenue outlook is $10.2-11 billion, below the expected $11.2 billion, with earnings per share of $2.55 falling short of the expected $2.89. Weak demand for mobile chips due to storage shortages has led the company to diversify into automotive, PC, and data centers. This move stems from supply chain bottlenecks, with previous causes including the global chip shortage, and future demand recovery needs to be observed. Market Interpretation: Analysts point out that the mobile business drags down the overall performance, but the diversification strategy is recognized; Goldman Sachs lowered the target price, citing significant short-term profit pressure. Investment Insight: Caution regarding slow recovery in the mobile market; diversification may provide a buffer.

3. AMD - Performance Below High Expectations Triggers Major Drop

Event Overview: AMD's stock price plummeted over 17%, although performance was not poor, it failed to meet high market expectations. The company faces fierce competition from Nvidia in the AI sector, and revenue outlook did not meet optimistic forecasts. Previously, demand for AI chips drove stock prices up, but actual deliveries fell short of expectations, leading to a surge in selling. Market Interpretation: Institutional views are divided; Citigroup believes the fundamentals are solid but valuations are too high; Barclays downgraded the rating, emphasizing competitive risks. Investment Insight: Short-term caution, waiting for clarity on AI market share.

4. Eli Lilly - Q4 Revenue Soars 43%

Event Overview: Eli Lilly's Q4 revenue grew by 43%, with net profit increasing by 50%, driven by strong sales of GLP-1 weight loss drugs; the 2026 revenue guidance is $80-83 billion, a 27% increase. The company has surpassed Novo Nordisk, gaining an advantage in the price war, with the background being explosive growth in the obesity drug market, and future attention on capacity expansion. Market Interpretation: Analysts praise the dominant sales position, and UBS raised the target price, stating that market share will further expand. Investment Insight: Pharmaceutical giants benefit from health trends, making them worth holding long-term.

5. Novo Nordisk - Acknowledges Pricing Pressure

Event Overview: Novo's stock price fell over 6%, with the CEO admitting unprecedented pricing pressure in 2026; Wegovy's price reduction was made to boost sales, initiating a $3.8 billion buyback and dividend plan. The oral Wegovy tablet is seen as a future growth point, with previous stock price adjustments due to intensified competition. Market Interpretation: Institutions are concerned about profit compression, but Goldman Sachs maintains a buy rating, emphasizing product pipeline potential. Investment Insight: Significant short-term pressure, focus on new drug progress.

# 4. Cryptocurrency Project Dynamics

1. U.S. Treasury Secretary Bessent stated that there will be no "bailout" for Bitcoin, as the $500 million in Bitcoin seized by the government has appreciated to $15 billion.

2. Bitcoin developers are calling for Blockstream CEO Adam Back to resign due to the Epstein documents.

3. CoinDCX CEO: Indian investors are buying Bitcoin on dips, with investments becoming more rational.

4. BLOCK announced token economics, with 50% allocated to the community.

5. VIRTUAL launched a 60-day framework to support reversible token issuance.

# 5. Today's Market Calendar

Data Release Schedule

Important Event Preview

• MicroStrategy, IREN, Amazon Earnings Reports: After hours - Focus on technology and cryptocurrency-related performance.

Bitget Research Institute's View:

U.S. tech stocks are under pressure due to the bursting of the AI valuation bubble, with a short-term bearish bias in the Nasdaq; although gold has rebounded above $5000, it is viewed as a counter-trend rebound, not the start of a new bull market, limited by a strong dollar; the sharp decline in crude oil inventories supports a rebound, but signals of easing geopolitical tensions may suppress the extent of the increase; in forex, the dollar index slightly rose, benefiting from delayed data and changes in Federal Reserve personnel. Overall market volatility is increasing, suggesting attention to the uncertainty of the Federal Reserve's path, with gold not advisable for chasing highs in the short term, and avoiding high-valuation tech stocks in U.S. equities.

Disclaimer: The above content is organized by AI search, with human verification for publication, and is not intended as any investment advice.