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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
2/2/2026
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Precious metals plunged after markets reacted to President Trump’s selection of Kevin Warsh as Fed chair, boosting the dollar and driving silver down 31% (its second-worst day ever) and gold down 11%, their worst one-day declines since 1980. *1
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A global survey of more than 4,000 CEOs found AI adoption has seemingly delivered limited measurable benefits to corporations so far, with 56% reporting neither higher revenues nor lower costs. 2
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U.S. pending home sales fell 9.3% in December, the largest monthly decline since April 2020, with non-seasonally adjusted sales hitting a record low and the Midwest seeing the biggest drop. 2
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Last Friday, Microsoft stock dropped nearly 10%—its worst day in over 12 years—as investors questioned whether Azure, the company’s cloud computing and AI platform, is growing fast enough to justify Microsoft’s heavy spending on artificial intelligence. *3
- WSJ – “Heard on the Street: Silver Scream”
- MFS – “Beyond the News”
- MarketWatch – “Buy Microsoft’s Stock While It’s Down? First Ask Yourself This Question”
*Past performance is not indicative of future performance
Economic Calendar
Monday:
S&P flash U.S. manufacturing PMI (Jan), ISM manufacturing (Jan), Auto sales (Jan)
Tuesday:
Job openings (Dec), S&P final U.S. services PMI (Jan), ISM services (Jan)
Wednesday:
ADP employment (Jan), Fed Governor Lisa Cook speaks
Thursday:
Initial jobless claims (Jan 31), Atlanta Fed President Raphael Bostic speaks
Friday:
U.S. employment report (Jan), U.S. unemployment rate (Jan), U.S. hourly wages (Jan), Hourly wages year over year, Consumer sentiment – prelim (Feb), Fed Vice Chair Philip Jefferson speaks, Consumer credit
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US Markets*
S&P 6,967.26 +0.41%
DOW 49,148.24 +0.52%
NASDAQ 23,640.19
+0.76%
World Markets*
FTSE 10,325.73
+1.00%
NIKKEI 52,655.18 -1.25%
HANG SENG 26,775.57 -2.23%
*values as of 10:20 EST 2/2/2026
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Treasuries*
2 YR 3.570%
10YR 4.279%
30 YR 4.906%
Cryptocurrencies*
BTC-USD
78,202.91
+1.34%
ETH.CM
2,349.92
+1.15%
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Currencies*
Euro $1.1808
Pound $1.3700
Yen $154.7800
Commodities*
Gold 4,734.50
-0.22%
WTI Crude 62.43
-4.26%
Silver 78.81
+0.36%
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Upcoming Earnings Calls
Monday - PLTR, DIS, MFG, SPG, NXPI
Tuesday - AMD, MRK, MUFG, PEP, AMGN
Wednesday - GOOG, GOOGL, LLY, ABV, TM
Thursday - AMZN, SHEL, LIN, BBVA, COP
Friday - PM, BBDM, BBDO, UI, AER
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Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years.
Glen Eagle Wealth, LLC is a member FINRA and SIPC
This desk commentary is for informational purposes only
Carol Ann Fernandez
Rob Michel
Grier Vacek
Glen Eagle Wealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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