Market Pressure: Gold, Silver, Crypto Drop; Nvidia Clarifies OpenAI Investment; Tencent's 10 Billion Red Envelope.

Walsh Nominated as New Fed Chair, Mentor Druckenmiller Clarifies His Stance

Trump has nominated Walsh to lead the Federal Reserve, advocating for balance sheet reduction, which contrasts with Trump's push for lower borrowing costs. This has led to a steepening of the U.S. Treasury yield curve. Mentor Druckenmiller defended Walsh, stating he is not a permanent hawk and has navigated both sides of monetary policy.

If Walsh assumes office, his coordination with Treasury Secretary Basant will be crucial in reshaping market direction.

Senate Passes $1.2 Trillion Spending Bill Amid Brief Shutdown

On January 30, the U.S. Senate passed a spending bill to fund most federal government departments, which was sent to the House for review. However, due to House members being out of Washington, a partial government shutdown began early on January 31.

Trump Hopes for Agreement with Iran

On February 1, President Trump expressed hope for an agreement with Iran regarding nuclear issues. Iranian Foreign Minister Zarif stated that Iran remains confident in reaching a deal, emphasizing productive negotiations through regional allies.

Trump to Nominate Matsumoto as BLS Director

President Trump plans to nominate Brett Matsumoto as the new director of the Bureau of Labor Statistics, following the controversial dismissal of the previous director.

Goldman Trader: Market Logic Remains Unchanged

Goldman’s Mark Wilson advised investors not to overinterpret recent market volatility, noting that core drivers such as the dollar's performance and strong U.S. economic growth remain intact. The recent adjustment is seen as a technical correction rather than a fundamental shift.

Cryptocurrency Market Faces Major Sell-off

Over the weekend, the cryptocurrency market experienced significant sell-offs, with Bitcoin dropping below $80,000, reaching a low of $75,700.

Gold Bull Market May End with Major Events

Despite recent price corrections, Bank of America’s Hartnett believes the gold bull market will only end due to significant macro events, as current conditions suggest a continuation of inflation and wealth redistribution trends.

CME Raises Margin Requirements for Gold and Silver

The CME Group announced an increase in margin requirements for gold and silver futures, effective February 2, citing normal reviews of market volatility.

China's January Manufacturing PMI at 49.3

China's official manufacturing PMI for January was reported at 49.3, indicating a decline in economic activity, while the non-manufacturing PMI fell to 49.4.

Nvidia's CEO Clarifies Investment Plans in OpenAI

Nvidia's CEO Jensen Huang clarified that the proposed $100 billion investment in OpenAI was never a commitment and will be evaluated in phases.

SpaceX Seeks to Launch 1 Million Satellites

SpaceX has applied to launch up to 1 million satellites to create an "orbital data center," marking a historic first in space exploration.

U.S. Markets Close Lower, Nasdaq Drops Nearly 1%

Last Friday, U.S. markets closed lower, with the Dow down 0.36% and the Nasdaq down 0.94%. Tesla bucked the trend, rising 3.32%.

Bernstein Raises SanDisk Price Target to $1000

Bernstein has raised SanDisk's price target to $1000, indicating a potential 85% upside, driven by strong gross margin expansion.

Oracle Plans to Raise Up to $50 Billion for Cloud Investments

Oracle announced plans to raise $45-50 billion by 2026 to expand its cloud infrastructure, catering to major clients like AMD and Nvidia.

Waymo Seeks $16 Billion at Nearly $110 Billion Valuation

Waymo is reportedly seeking to raise approximately $16 billion at a valuation close to $110 billion, with Alphabet contributing about $13 billion.

ExxonMobil's 2025 Earnings Forecast Lowered

ExxonMobil's adjusted earnings per share for Q4 were $1.71, with a total forecast of $28.8 billion for 2025, down from $33.7 billion in 2024.

Hong Kong Stock Market Update

On January 30, southbound funds net bought over HKD 3.2 billion in Hong Kong stocks, with significant purchases in Xiaomi and sales in Zijin Mining.

BYD Reports 30.11% Drop in January EV Sales

BYD announced a 30.11% year-on-year decline in electric vehicle sales for January 2026.

Tencent Launches 10 Billion Yuan Red Packet Activity

Tencent has launched a cash red packet activity worth approximately 10 billion yuan as part of its AI application rollout.

Telecom Operators Announce VAT Increase

China's major telecom operators announced an increase in the value-added tax rate from 6% to 9%, which will impact their revenues and profits.

Upcoming Economic Data and Earnings Reports

China will release its January manufacturing PMI at 9:45, while the U.S. will publish the ISM manufacturing PMI at 23:00. Notable earnings reports include Disney and Palantir.