Bitget UEX Daily Report｜Gold and silver rebound, gold returns to 5000; Nikkei hits all-time high; US reduces tariffs on India to 18% (February 9, 2026)

# 1. Hot News

Federal Reserve Dynamics

Bank of America Hartnett: Small-cap stocks are more worth betting on than tech stocks, tech giants are no longer the winners

• Institutions point out that 2025-2026 marks the end of the "American exceptionalism," and global rebalancing begins.
• Key points: Winners shift to international stocks, Chinese consumer stocks, and emerging market commodity producers; the dominance of tech stocks weakens.
• Market impact: May trigger funds flowing out of tech giants, pushing the market towards value stocks and small-cap stocks, increasing overall volatility.

Goldman Sachs Interpretation: Software sector still under short-term valuation pressure, bear market risk may be delayed rather than eliminated

• Last week's Anthropic update triggered a sharp decline in software stocks, and Goldman Sachs believes there are two major controversies in the AI-SaaS field.
• Key points: The competitiveness of traditional software companies is in doubt; future profits may flow to efficient AI orchestration companies; sentiment needs to stabilize over 2-3 quarters.
• Market impact: Software sector valuations under pressure, may delay the arrival of a bear market, investors need to focus on fundamental support to hedge.

International Commodities

Gold, silver, and copper will "consolidate" in the coming weeks, JPMorgan: This is just a bull market consolidation, copper may rebound first in Q2

• Reports indicate that metals like gold, silver, and copper are entering a consolidation phase, but this does not mean the bull market is over.
• Key points: Spot gold returns above $5,000, rising over 1.5% in a day; spot silver briefly surpasses $80, up 2.55%; copper fundamentals are solid, supported by global manufacturing.
• Market impact: High probability of rebound after short-term adjustment, favorable for commodity-related assets, but need to be wary of the risk of global volatility amplification.

China's central bank gold reserves increase for the 15th consecutive month, adding 40,000 ounces month-on-month in January, with an accelerated pace of accumulation

• As of the end of January, gold reserves stood at 74.19 million ounces, with foreign exchange reserves at $339.91 billion, up 1.23% month-on-month.
• Key points: Continuous accumulation for 15 months; foreign exchange reserves increased by $4.12 billion; reflects the global central bank allocation trend.
• Market impact: Strengthens the demand base for gold, constrains the space for gold price corrections, and promotes long-term stability in precious metals.

Macroeconomic Policy

The US and India reach a temporary trade framework: Tariffs on India reduced to 18%, India commits to purchasing $500 billion of US products over five years

• The agreement includes India's procurement of goods from the US in energy, aviation, and AI chips, and opens markets for industrial goods and agricultural products.
• Key points: The US cancels a 25% punitive tariff but imposes an 18% reciprocal tariff; India halts imports of Russian oil, under US supervision.
• Market impact: Eases trade tensions, promotes global supply chain reshaping, but geopolitical factors may increase uncertainty, benefiting related export stocks.

Asia-Pacific stock markets soar across the board, Nikkei 225 hits a new historical high

• Japanese and Korean stocks surged at the open, with the Nikkei 225 rising over 5% to surpass 57,000 points, and the Korean Composite Index up over 4%.
• Key points: Japan's Liberal Democratic Party wins a supermajority in elections; Samsung Electronics and SK Hynix rise over 6%.
• Market impact: Political stability boosts investor confidence, driving capital inflows into Asia-Pacific, but global risk transmission needs attention.

# 2. Market Review

Commodity & Forex Performance

• Spot Gold: Up over 1.07% + Continuing rebound, returning above $5,000
• Spot Silver: Up 2.45% + Briefly surpassing $80, with high volatility
• WTI Crude Oil: Down 0.63% + Supply concerns and easing geopolitical risks from Iran negotiations
• Dollar Index: Down 0.14% + Institutional rebalancing and easing geopolitical pressures

Cryptocurrency Performance

• BTC: Up 1.96% + Stabilizing in the mid-$70,000 range after a rebound
• ETH: Up 0.07% + Slight recovery following the market, with reduced volatility
• Total Cryptocurrency Market Cap: Up 0.7% + Driven by a rebound in risk appetite
• Market Liquidation Situation: Total liquidations of $333 million + Mainly dominated by $234 million in short liquidations

US Stock Index Performance

• Dow Jones: Up 2.47% + First time in history surpassing 50,000 points, continuing to rebound
• S&P 500: Up 1.97% + Largest single-day increase since last May, stabilizing at key levels
• Nasdaq: Up 2.18% + Driven by a rebound in the tech sector, ending three days of selling

Tech Giants Dynamics

• NVDA: +7.87%, leading the rebound
• AAPL: +0.8%, slight recovery
• GOOGL: -2.53%, under pressure and falling back
• MSFT: +1.9%, steadily rising
• AMZN: -5.55%, sharply falling after earnings report
• META: -1.31%, slight adjustment
• TSLA: +3.5%, following the recovery Overall, the performance of tech giants is mixed, mainly driven by rebounds after sell-offs, with NVDA's market value surging over $320 billion, but AMZN and others are weighed down by concerns over capital expenditures.

Sector Movement Observation

Semiconductor Sector up 6.47%

• Representative stocks: TSMC, +5.48%; Broadcom, +7.22%
• Driving factors: Recovery in AI demand and stable supply chains boost chip stocks

Storage Chip Sector shows movement

• Representative stocks: Micron Technology, +3.08%; Samsung Electronics, SK Hynix up over 6%
• Driving factors: Suppliers dominate new contract models, market tilt favors storage giants

Cryptocurrency Concept Stocks up 17.64%

• Representative stocks: MSTR, +26.11%; BMNR, +17.64%
• Driving factors: Bitcoin rebounds nearly 12%, stimulating related holdings to rise

# 3. In-Depth Stock Analysis

1. Tesla - Expanding solar cell manufacturing with plans for multiple state factories Event Overview: Tesla is evaluating sites across the US, planning to achieve an annual solar manufacturing capacity of 100 gigawatts within three years, including expanding the Buffalo factory in New York to 10 gigawatts and considering new factories in New York, Arizona, and Idaho, aimed at strengthening its renewable energy business. Market Interpretation: Institutions believe this strategic expansion will enhance the company's competitiveness in the new energy sector, but attention is needed on supply chain and policy support. Investment Insight: Long-term favorable for the new energy transition, but short-term caution is needed regarding capital expenditure pressures.
2. Amazon - After significant AI investment, the market is closely watching the balance sheet Event Overview: As the AI infrastructure race deepens, Amazon, Google, and Meta face the risk of depleting free cash flow, with total capital expenditures for the four major cloud giants expected to reach $645 billion in 2026, a year-on-year increase of 56%, with an additional $230 billion in spending. Market Interpretation: A JPMorgan report indicates that this move may overdraw cash flow, and investors need to closely monitor the health of the balance sheet in 2026. Investment Insight: AI growth potential is significant, but balancing liabilities is key to avoiding excessive expansion risks.
3. Stellantis - "Electrification" dream shattered with a write-down of €22.2 billion Event Overview: European automotive giant Stellantis plans to restructure its business, fully retracting its electric vehicle scale, resulting in a loss of €22.2 billion, with US stocks closing down 23.69% on Friday. Market Interpretation: Analysts believe the EV transition is encountering obstacles, reflecting industry cost pressures and weak demand. Investment Insight: Short-term stock price pressure, suggesting attention to restructuring progress to assess recovery potential.
4. Anthropic - New round of financing expected to double valuation to $350 billion Event Overview: AI startup Anthropic is entering the final stage of large-scale financing, with the scale exceeding $20 billion, and its valuation may reach $350 billion, receiving over $1 billion commitments from Coatue, GIC, and Iconiq, with Nvidia and Microsoft each investing up to $15 billion. Market Interpretation: Investor demand exceeds expectations, highlighting enthusiasm for AI ecosystem layout, with valuation nearly doubling from the last round. Investment Insight: The AI boom continues, with significant benefits for related industry chains.
5. Jinglin Asset - Reduced holdings in Nvidia while increasing positions in Google, Meta, and Pinduoduo in Q4 Event Overview: Jinglin Asset's 13F filing shows a US stock holding value of $4.045 billion, with a reduction of 1.54 million shares in Nvidia (over 60%), a reduction of 229,000 shares in Meta, and an increase of 929,000 shares in Google Class A and 611,000 shares in Pinduoduo. Market Interpretation: Institutions are shifting towards diversification, reducing exposure to tech giants. Investment Insight: Reflects a market style switch, suggesting attention to opportunities in emerging consumer stocks.

# 4. Cryptocurrency Project Dynamics

1. Bitcoin stabilizes in the mid-$70,000 range, with the total market cap rebounding to $2.6 trillion.
2. Eugene: Bitcoin at $60,000 may become support, survival in a bear market is a priority, and trading requires strict stop-loss measures.
3. Michael Saylor releases Bitcoin Tracker information again, with potential disclosure of increased holdings this week.
4. Data: Tokens like CONX, AVAX, APT will see significant unlocking next week, with CONX unlocking valued at approximately $15.6 million.
5. Arthur Hayes bets that HYPE's growth in the next six months will surpass all "shitcoins" with a market cap over $1 billion.

# 5. Today's Market Calendar

Data Release Schedule

Important Event Forecast

• Federal Reserve Officials Speaking: 10:50 AM - Monetary policy views
• Treasury Auction: 10:30 AM - 13-week and 26-week bill auction

Bitget Research Institute Perspective:

The divergence in US stocks has intensified, with the Dow hitting a new high of 50,000 reflecting resilience, but the Nasdaq's nearly 1.9% weekly decline highlights valuation pressure in tech; precious metals rebound strongly, supported by a weaker dollar and easing geopolitical tensions, but caution is needed regarding volatility amplification; crude oil fell 0.79% to $63, affected by oversupply and Iranian negotiations, under short-term pressure; in the forex market, the dollar index fell 0.28%, driven by institutional rebalancing, with expected rising volatility, suggesting attention to Federal Reserve signals and geopolitical dynamics.

Disclaimer: The above content is organized by AI search, with human verification for publication, and does not constitute any investment advice.