Weekly Wrap Up February 10, 2026.

Описание: Recapping Last Week

Market Performance
• Risk assets fell sharply for three days as investors reassessed AI’s economic impact.
• Nasdaq: +2% Friday rebound but –1.8% for the week.
• S&P 500: Flat on the week.
• Smaller caps/outperformers:
o S&P MidCap 400 +4.4%
o Russell 2000 +2%+
o S&P 500 Equal Weight +2%+
Sector Highlights
• Strongest sectors:
o Industrials +4.7%
o Basic materials +4.5%
o Energy +4.3%
o Consumer staples +5% (boosted by PepsiCo and Colgate earnings)
• Weakest:
o Technology –2%
o Software sub-index –9% after Anthropic announced an AI product seen as competitive with legal/finance software.
Notable Company Moves
• AMD sank after a weak sales forecast.
• Amazon fell after guiding $200B in capex for 2026 (up 50% YoY).
Commodities & Crypto
• Precious metals volatile:
o Silver dropped to $63.90, finishing the week –9% at $77.
o Gold ended with a small gain.
• Bitcoin plunged 30% to $60K, then regained about one-third of the loss.
U.S. Economic Data
• Brief U.S. government shutdown ended Tuesday; January payrolls delayed to Feb. 11.
• Labor market indicators softened:
o ADP private payrolls: +22,000
o Slower wage growth
o Job openings lowest since 2020
o Layoffs above 100,000 (mostly Amazon & UPS)
o Jobless claims rose but trend stable
• Treasury yields fell as investors moved to safety.
• ISM Manufacturing PMI returned to expansion for the first time in a year, but concerns remain over tariffs and raw material costs.
• Consumer sentiment improved; 1-year inflation expectations dropped to 3.5%, the lowest since Jan 2025.
Global Developments
• OPEC kept March oil output steady.
• Crude oil fell 3.4% amid Middle East tensions and de-escalation talks between the U.S. and Iran.
• ECB held rates; Eurozone inflation cooled to 1.7% YoY (core 2.2%).
• Bank of England also held rates with a split vote.
• Reserve Bank of Australia became the first central bank this year to hike rates due to persistent inflation and capacity constraints.

The Week Ahead

Market & Volatility
• VIX spiked to 23, then eased back below 18 by Friday.
• Highlights how quickly sentiment can swing around AI-related themes.
• Expect continued volatility as investors assess potential AI winners, losers, and disruption timelines.
Key U.S. Data This Week
• January non farm payrolls report (delayed due to government shutdown).
• Friday CPI report in focus, especially after recent PPI and PMI data showed rising price pressures.
• December retail sales set for release, still delayed from last year's shutdown.
• 10 year and 30 year Treasury auctions also on deck.
Corporate Earnings to Watch
• Earnings season winding down, but tech weakness keeps attention high.
• Reports expected from:
o AppLovin
o DataDog
o Cisco Systems
International Events
• Japan: Prime Minister Takaichi expected to maintain a strong majority in lower house elections.
• UK and Eurozone: Preliminary Q4 GDP estimates due.
• China: Monthly inflation report rounds out global data.

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