Morning Market Brief | Feb 6, 2026 | Amazon Drops on $200B AI Spending Plan

Описание: Amazon Earnings and the AI "Arms Race"
• Stock Drop: Amazon shares fell approximately 8-9% in after-hours trading following its fourth-quarter earnings report.
• CAPEX Shock: The primary driver of the selloff was Amazon's forecast for 2026 capital expenditures (CAPEX) of roughly $200 billion, significantly higher than the analyst estimate of $146.1 billion.
• Cloud Growth: despite the spending concerns, Amazon Web Services (AWS) revenue grew by 24%, beating Wall Street estimates of roughly 21%.
• Industry Trend: This follows a similar pattern to Alphabet (Google) and Microsoft, where massive spending on AI infrastructure is causing investor anxiety regarding profit margins and the timeline for Return on Investment (ROI).
• Software Selloff: The market is experiencing a broad selloff in software stocks, described by some analysts as a "software Armageddon," driven by fears that AI agents will replace traditional software tools.
Crypto Crash and "Fimbulwinter"
• Bitcoin Plunge: Bitcoin prices dropped below $65,000, erasing all gains made since the election of President Trump.
• Market Sentiment: Economist Paul Krugman referred to the downturn as a "crypto Fimbulwinter," suggesting a crisis of faith in the asset class as political support fails to prop up prices.
• MicroStrategy Losses: Shares of MicroStrategy fell significantly after the company reported a net loss of over $2 billion for the quarter, with its stock trading below its net asset value at points.
• Sector Weakness: The selloff extended to other cryptocurrencies, with Solana and Ripple also seeing double-digit declines, while mining stocks and related assets faced heavy pressure.
Market Winners and Losers
• Qualcomm: Shares fell after the company provided a weak outlook, citing memory chip shortages caused by hyperscalers (like Amazon and Google) buying up supply for data centers.
• Roblox: Shares surged nearly 40% in after-hours trading after reporting strong daily active user growth that beat estimates.
• Tapestry: The parent company of Coach and Kate Spade saw shares rise after reporting record sales and earnings, driven by strong engagement with Gen Z consumers.
• XPO: The trucking company’s stock hit record highs following an earnings beat, signaling a potential recovery in the industrial sector.
• Estée Lauder & Coty: Both companies saw significant stock declines due to weak outlooks and complex market backdrops.
• Peloton: Shares sank after missing revenue estimates, and the company announced its CFO is leaving.
Macroeconomics and Politics
• Labor Market Cracks: U.S. job openings (JOLTS) fell to their lowest level since 2020, and January job cuts were the highest since 2009, indicating a cooling labor market.
• Treasury Testimony: Treasury Secretary Scott Bessent testified before the Senate, facing questions about the independence of the Federal Reserve and whether President Trump would sue the Fed Chair if interest rates are not cut.
• Geopolitics: Starlink terminals used by the Russian military in Ukraine have been shut down, reportedly disrupting their communications, while U.S. and Iranian officials are scheduled for talks in Oman.
• Food Regulation: FDA Commissioner Robert Califf discussed new initiatives to remove petroleum-based dyes from the U.S. food supply, with many companies voluntarily pledging to switch to natural alternatives.
IPO News
• Bob's Discount Furniture: The company held its IPO, raising money to pay off debt, and aims to expand to over 500 stores by 2035.
• SpaceX: Reports suggest SpaceX advisers are looking into getting the company added to major indices like the S&P 500 sooner than usual ahead of a potential IPO.