Daily Market Report — 2026-02-05 (Thursday)
Report generated: 2026-02-05 18:10 UTC (markets still open, ~1:10 PM ET)
1. US Indices
| Index |
Level (intraday) |
Change |
Notes |
| S&P 500 |
~6,800 |
-1.2% |
3rd consecutive loss, rejected at 7,000 resistance |
| Nasdaq Composite |
~22,560 |
-1.5% |
Tech sell-off intensifying, 3rd day of losses |
| Dow Jones |
~49,000 |
-1.0% (~-500 pts) |
Joining sell-off after yesterday's +0.5% |
Previous close (Feb 4): S&P 6,882.72 (-0.51%), Nasdaq 22,904.58 (-1.5%), Dow 49,501.30 (+0.5%)
Sector rotation: Massive rotation OUT of tech (XLK -2.2%, XLC -1.6%) INTO value/defensives (XLE +3.2%, XLB +2.1%, XLP +1.6%, XLU +1.5%) on Feb 4. Rotation continues today.
2. Crypto
| Asset |
Price |
24h Change |
Notes |
| BTC |
~$67,000-$71,000 |
-7% |
Broke below $70,000 — lowest since Nov 2024 |
| ETH |
~$2,113 |
-7% |
Sliding with BTC |
| SOL |
~$92-$97 |
-5% |
Dropped from $260 area, testing $100 support |
- Crypto Fear & Greed Index: 11 (Extreme Fear) — lowest of the year
- Liquidations: $800M+ in 24 hours, open interest fell to $103B
- Options: puts trading at 10+ point premium to calls (peak fear)
- All post-Trump election crypto gains essentially wiped out
- Robinhood (HOOD) -4% premarket, -35% over past month
- BTC 90-day futures still at premium → market hasn't fully capitulated yet
3. FX / Commodities / Volatility
| Asset |
Price |
Change |
Notes |
| EUR/USD |
1.1800 |
flat |
ECB rate decision today (hold expected) |
| EUR/HUF |
~379 |
stable |
Forint holding range |
| Gold (XAU/USD) |
~$4,950 |
-1% |
Retreated from $5,048 high, met resistance >$5,000 |
| Silver |
~$81 |
-8% |
Sharp sell-off today |
| WTI Crude |
~$63 |
-3% |
US-Iran agree to talks → supply fears ease |
| Brent Crude |
~$67 |
-3% |
Pulled back from $69.46 |
| VIX |
~19-20 (est.) |
+3.6% Wed |
Rose from 18.64, likely higher today |
| USD Index |
97.70 |
+0.4% |
Strengthening on risk-off |
4. Key Market-Moving Events
Earnings (Major)
- AMD (-17.3%): Q4 EPS $1.53 beat, revenue $10.27B beat — but 2026 outlook spooked investors
- Alphabet/GOOGL (-5% after hours): 30% profit jump BUT $175-185B AI capex guidance alarmed market
- Qualcomm/QCOM (-12%): Beat Q1 but warned of industry-wide memory shortage in Q2
- Estée Lauder/EL (-11%): Beat estimates but tariff headwinds ~$100M profit hit in 2026
- Lumentum/LITE (+47%): Massive earnings beat ($1.67 vs $1.41 est)
- Amgen/AMGN (+8.2%): EPS $5.29 vs $4.76 est, revenue $9.9B beat
- Uber/UBER (-5.1%): Missed expectations, weak Q1 profit forecast, new CFO
- Palantir/PLTR (-11.6%): AI valuation concerns
- Chipotle/CMG (+1.9%): Beat but weak guidance
- Amazon/AMZN: Reports Q4 after close today (expected revenue $211.5B — first $200B+ quarter)
Economic Data
- ADP Employment: +22K (missed 48K estimate badly) — weak jobs signal
- ISM Services PMI: 53.8 (steady, showing service sector expansion)
- Weekly Jobless Claims: surged more than expected
- NFP POSTPONED to Feb 11 (was Feb 6), CPI moved to Feb 13
Central Banks (Today)
- ECB: Expected to hold rates unchanged (Eurozone HICP at 1.7% YoY, down from 1.9%)
- BoE: Expected to hold at 3.75%
Geopolitics
- US-Iran: Agreed to nuclear talks in Oman on Friday → Oil dropped 3% on easing supply fears
- Tariff uncertainty: Estée Lauder citing $100M impact, broader market concern
5. Notable Individual Stock Movers (±5%+)
Winners 🟢
| Stock |
Move |
Catalyst |
| LITE (Lumentum) |
+47% |
Q2 FY26 earnings blowout |
| AMGN (Amgen) |
+8.2% |
Q4 earnings beat |
Losers 🔴
| Stock |
Move |
Catalyst |
| AMD |
-17.3% |
2026 outlook disappointment |
| QCOM |
-12% |
Memory shortage warning |
| PLTR |
-11.6% |
AI valuation reset |
| EL |
-11% |
Tariff headwinds |
| GOOGL |
-5% |
$175-185B AI capex concern |
| UBER |
-5.1% |
Missed estimates |
6. Technical Analysis
S&P 500
- Resistance: 7,000 (major psychological/technical ceiling — rejected multiple times)
- Current: ~6,800 (breaking down from 6,882)
- Support: 6,800 (50-day EMA zone), 6,700 (200-day EMA area)
- Trend: Above 5/20/50-day EMAs but under selling pressure. Three consecutive red sessions.
- Signal: Bearish rejection at 7,000. If 6,800 breaks, next stop ~6,700.
Bitcoin (BTC)
- Resistance: $70,000 (now broken support becomes resistance)
- Current: ~$67,000-$71,000
- Support: $65,000 (March-Oct 2024 resistance zone), $60,000 (psychological)
- Trend: Extreme bearish. Broke below $70,000 for first time since Nov 2024.
- Signal: Analyst comparison to May 2022 sell-off — price may consolidate then dive deeper. 90-day futures still at premium → not yet full capitulation.
7. Sentiment
| Indicator |
Value |
Reading |
| Crypto Fear & Greed |
11 |
Extreme Fear (yearly low) |
| VIX |
~19-20 |
Elevated (was 18.64, rising) |
| Options skew |
Puts > Calls |
Bearish positioning across equities and crypto |
| ADP miss |
+22K vs 48K |
Adds to labor market concerns |
| News sentiment |
Negative |
Tech sell-off, crypto crash, weak jobs dominating headlines |
8. Tomorrow's Outlook (Feb 6, Friday)
Scheduled Events
- US-Iran talks in Oman — outcome could move oil significantly
- NFP was POSTPONED to Feb 11 — so no payroll data Friday
- Amazon Q4 earnings releasing tonight after close — will dominate Friday sentiment
- Expected: Revenue $211.5B (first $200B+ quarter), EPS $1.97
- Key focus: AWS growth (~22%), AI spending ($125B cumulative), 30K job cuts
Risk Factors
- If Amazon disappoints → could extend tech sell-off into 4th day
- Bitcoin breaking below $65,000 → further crypto deleveraging wave
- Iran talks fail → oil reversal higher, inflation concerns return
- Weekly initial claims surged → labor market weakening narrative strengthening
- CPI data moved to Feb 13 — uncertainty lingers longer
- ECB/BoE decisions today may still move markets in late session/Friday
Key Levels to Watch
- S&P 500: Hold 6,800 or risk move to 6,700
- BTC: $65,000 support — break below = capitulation
- WTI Oil: $60 support if Iran talks succeed
- EUR/USD: 1.1800 level — ECB decision dependent
Report compiled from: CNBC, Yahoo Finance, Bloomberg, Reuters, CoinDesk, FxStreet, StockMarketWatch, Investopedia, Fortune, Benzinga
Note: Markets were still trading at time of report. Final closing numbers may differ.