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Friday, January 30

Noteworthy macro moves today: Gold -6.9%. Copper -3.3%. Bitcoin -2.4%. Noteworthy US mega-cap moves today: Exxon Mobil Corp (XOM) -1.2%. Visa Inc (V) -1.0%.

Global equity indices are trading mixed following a series of economic data releases and geopolitical developments. In the U.S., the Producer Price Index (PPI) for December rose by 0.5%, significantly exceeding expectations of a 0.2% increase. This has raised concerns about persistent inflation pressures and led to rising Treasury yields.

In Europe, equity markets are generally higher, buoyed by better-than-expected GDP growth figures from Germany and Italy, with Germany's GDP growing by 0.3% in Q4, surpassing forecasts of a modest increase. However, ongoing geopolitical tensions and tariff concerns remain prevalent, particularly following President Trump's announcement regarding his Federal Reserve chair nominee Kevin Warsh, who is seen as potentially hawkish on inflation.

Meanwhile, commodities have experienced significant declines today; gold prices fell by nearly 7%, reflecting broader market volatility and investor caution amid these economic signals. The drop in precious metals is contributing to negative sentiment across related sectors while also impacting risk assets globally.

SPDR Gold Shares (GLD) [-6.6%]
SPDR Gold Shares (GLD) has seen a substantial decline of 6.6% in pre-market trading, coinciding with a broader sell-off in precious metals. Spot gold prices have fallen below $5,000 per ounce, reflecting a nearly 7% drop, while silver has experienced a dramatic decline of approximately 18%. This downturn is attributed to the strengthening U.S. dollar following the nomination of Kevin Warsh as the next Federal Reserve chair. Analysts express concerns over potential unsustainable valuations of gold, citing a speculative bubble driven by retail investment rather than institutional buying. Social media discussions highlight significant price fluctuations in gold and silver, with implied volatility for gold surging, indicating increased market uncertainty. Additionally, technical issues at the London Metal Exchange have delayed trading, contributing to the erratic behavior observed in the market.

Bitcoin (BTC/USD) [-2.3%] Bitcoin has reached new lows for 2026, declining by 2% to approximately 82,700 amid broader market apprehensions about potential hawkish monetary policy shifts following President Trump's nomination of Kevin Warsh as the new Federal Reserve chair. Speculation regarding interest rate cuts by the Fed and rising geopolitical tensions related to oil supply disruptions have contributed to a stronger U.S. dollar, which typically exerts downward pressure on Bitcoin. Social media discussions reveal that Bitcoin recently hit a low of around 81,201.50, down significantly from prior levels. Notably, Binance plans to convert its entire $1 billion SAFU fund into Bitcoin over the next month, reinforcing its status as a core asset within the crypto ecosystem. Ethereum has also declined by over 3%, reflecting broader market sentiment that may be impacting Bitcoin's performance.

KLAC | -7.7% | -16.2B
KLA Corp | Semiconductor Materials & Equipment
KLA Corp reported its Q2 results, revealing an adjusted EPS of 8.85, slightly above the consensus estimate of 8.80, and revenue of 3.3 billion, exceeding expectations of 3.25 billion. Despite these positive figures, shares declined significantly post-announcement, dropping nearly 8%. The company anticipates Q3 adjusted EPS in the range of 9.08, with projected revenue at approximately 3.35 billion, also higher than consensus forecasts. The outlook for Q3 gross margin is set at 60.62%. Year-over-year, profit increased substantially, with EPS rising from 6.16 to 8.68, and revenue growing from 3.076 billion to 3.297 billion. The sentiment turned negative after the earnings announcement, reflecting potential profit-taking following what was described as one of the company's best quarters.

SOFI | +7.3% | +2.0B
SoFi Technologies Inc | Consumer Finance
SoFi Technologies Inc reported its Q4 earnings, showcasing an adjusted EPS of $0.13, surpassing the estimate of $0.12. Revenue reached $1.03 billion, exceeding the anticipated $982 million, and represented a substantial year-over-year increase. The company added 1 million new members in the last quarter, bringing the total to 13.7 million, reflecting a 35% year-over-year growth. Additionally, SoFi's adjusted EBITDA was reported at $318 million, marking a significant increase from the previous year. The company also improved its balance sheet, with cash rising to $4.9 billion and debt reduced to $1.8 billion. Looking forward, SoFi projects a GAAP EPS of $0.60 and revenue of approximately $4.66 billion for FY26, alongside an expected minimum of 30% revenue growth year-over-year. Following the earnings announcement, SoFi's stock experienced a notable price increase in pre-market trading.

META | -1.3% | -24.7B
Meta Platforms Inc | Interactive Media & Services Meta Platforms Inc. is currently facing scrutiny due to a U.S. investigation into allegations that it can access private WhatsApp messages. This inquiry, involving the Department of Commerce, arises from claims by former contractors who assert that Meta personnel can bypass the messaging service's encryption. A spokesperson for Meta has denied these allegations, stating that such access is impossible. Concurrently, social media sentiment remains mixed; while users express optimism about Meta's potential to reach all-time highs, concerns persist regarding the privacy issues raised by the ongoing investigation. Notably, Meta's stock has experienced significant gains recently, contrasting with declines in other tech stocks, and it has been highlighted as a top performer this earnings season. The Nasdaq 100 Index has also declined, reflecting broader negative sentiment affecting technology stocks, including Meta.

WDC | +5.8% | +5.6B
Western Digital Corp | Technology Hardware, Storage & Peripherals
Western Digital Corp reported its fiscal second-quarter results on January 29, 2026, revealing an adjusted EPS of 2.13, exceeding estimates by 13%. Revenue for the quarter reached 3.017 billion, surpassing expectations of 2.924 billion. The company provided optimistic guidance for Q3 2026, projecting revenues between 3.1 billion and 3.3 billion and EPS of 2.15 to 2.45, both above analyst predictions. This performance is attributed to strong demand from data center customers amid the growing AI sector. Following the earnings release, several analysts raised their price targets for Western Digital, with notable increases from Citi, Rosenblatt, and JPMorgan to 325, 340, and 320 respectively. Social media discussions indicated a notable price spike of approximately 7% following the earnings report, with analysts adjusting their price targets upward, reflecting a positive outlook based on the earnings guidance.

VZ | +4.4% | +7.7B
Verizon Communications Inc | Integrated Telecommunication Services
Verizon Communications Inc. reported strong fourth-quarter results, with adjusted earnings per share of 1.09, surpassing estimates of 1.06. Revenue reached 36.4 billion, exceeding the consensus of 36.2 billion. The company achieved 616,000 postpaid phone net additions, the highest since 2019, and added 372,000 broadband subscribers. For fiscal year 2026, Verizon projected adjusted EPS between 4.90 and 4.95, significantly above the analyst consensus of 4.76. The outlook includes expected retail postpaid phone net additions of 750,000 to 1 million and service revenue growth of 2% to 3%, totaling approximately 93 billion. Additionally, Verizon anticipates generating at least 21.5 billion in free cash flow in 2026. The CEO also indicated a minimum of 3 billion in share repurchases for the same year. Recent economic data showed a rise in US producer prices, which may impact Verizon's operating costs moving forward.

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