Gold and silver prices stabilize; SpaceX and xAI merge; Palantir Q4 revenue surges 70%.

Trump Collaborates with Speaker Johnson on Funding Agreement

On Monday, President Trump announced his collaboration with House Speaker Johnson to push for the approval of a funding agreement in the House, emphasizing that "no modifications can be made at this time" and stating he would sign the bill immediately. The Senate had previously passed a plan to restart some federal agencies with a significant majority, and Speaker Johnson expressed confidence that the shutdown could end as early as Tuesday.

Non-Farm Report Delayed Again

The U.S. Bureau of Labor Statistics announced that the January employment report, originally scheduled for release on February 6, will be delayed due to the partial federal government shutdown. This delay also affects the December job openings report. This marks another instance of critical economic data being postponed due to funding interruptions, following a record 43-day shutdown last fall.

U.S.-India Trade Agreement Reached

Trump stated on February 2 that he spoke with Indian Prime Minister Modi, resulting in a trade agreement that will reduce U.S. tariffs on India from 25% to 18%. In return, India will lower its tariffs and non-tariff barriers on U.S. goods, potentially reaching zero. Modi also agreed to halt purchases of Russian oil and increase imports from the U.S.

Precious Metals Prices Rebound

After three consecutive days of decline, gold and silver prices have rebounded. Spot silver surged over 4% to $82.716 per ounce, while gold rose 2.55% to above $4,777 per ounce.

Market Reactions to Potential Fed Nominee

Morgan Stanley's chief U.S. equity strategist, Mike Wilson, noted that the nomination of Walsh is expected to stabilize market sentiment and support the dollar. He indicated that Walsh is viewed as the most hawkish candidate, which could slow the dollar's decline, even as a weaker dollar remains a core policy goal of the Trump administration.

U.S. Manufacturing PMI Surges

The January ISM Manufacturing PMI jumped from 47.9 to 52.6, significantly exceeding expectations of 48.5, driven by robust growth in new orders and output. The employment index reached a one-year high but remains in contraction territory.

Trump Plans $12 Billion Strategic Mineral Reserve

President Trump is preparing to launch a $12 billion strategic mineral reserve plan, aimed at protecting U.S. manufacturers from supply chain disruptions and enhancing national industrial security. The initiative, known as "Project Vault," will utilize $10 billion in loans from the Export-Import Bank and $1.67 billion in private capital.

SpaceX Acquires xAI

SpaceX announced the acquisition of Elon Musk's AI company xAI, creating the world's most valuable private enterprise with a combined valuation of $1.25 trillion. The merger integrates rocket, satellite internet, AI technology, and social media platforms.

U.S. Stock Market Performance

The S&P 500 index rose 0.54%, the Nasdaq composite increased by 0.56%, and the Dow Jones Industrial Average climbed 1.05%. Notable tech stocks showed mixed results, with Nvidia down 2.89% and Apple up 4.06%.

OpenAI's Relationship with Nvidia

Reports surfaced that OpenAI is dissatisfied with some of Nvidia's latest AI chips, complicating the relationship between the two companies. However, OpenAI CEO Sam Altman refuted these claims, praising Nvidia's chips and expressing a desire for a long-term partnership.

Oracle's $25 Billion Debt Issuance

Oracle has initiated a $25 billion debt issuance plan, divided into eight parts, to fund its AI cloud infrastructure investments. The bonds will be led by top investment banks and are expected to be issued in a single tranche by 2026.

Palantir's Strong Q4 Earnings

Palantir reported a 70% year-over-year increase in Q4 revenue, reaching $1.41 billion, exceeding expectations. The company provided optimistic revenue guidance for the upcoming quarters, leading to an after-hours stock price increase of about 8%.

NXP's Mixed Q4 Results

NXP's Q4 revenue of $3.34 billion and adjusted EPS of $3.35 exceeded market expectations, but concerns arose over its automotive business performance, leading to a post-market decline of over 5%.

Snowflake Partners with OpenAI

Snowflake announced a $200 million partnership with OpenAI to integrate advanced AI models into its cloud data platform, enhancing the ability to extract insights from large datasets.

Disney's Q1 Financials

Disney reported a 5% increase in Q1 revenue to $25.98 billion, but net income fell 6% to $2.4 billion, primarily due to declines in its entertainment and sports segments.

BlackRock's Acquisition of AES

BlackRock's Global Infrastructure Partners is reportedly in talks with EQT to acquire AES Corporation, a renewable energy provider for tech giants like Microsoft.

Hong Kong Stock Market Activity

On February 2, net purchases of Hong Kong stocks reached HKD 1.907 billion, with Tencent Holdings receiving over HKD 1.3 billion in net buys.

Upcoming Earnings Reports

Companies such as PayPal and Pfizer are set to report earnings before the market opens, while AMD and Super Micro Computer will report after market close.