The S&P 500, Dow Jones, and Nasdaq are all down today, with tech stocks leading the decline. Qualcomm forecasts weaker Q2 revenue, while Alphabet’s high capital expenditures outlook impacts its stock. US labor market shows signs of weakness with job cuts rising and unemployment claims hitting an 8-week high. Fed Governor supports holding interest rates steady due to inflation risks. Bitcoin hits a 1.25-year low, with outflows from US Bitcoin ETFs. Earnings season in focus, with 81% of S&P 500 companies beating expectations. Markets discount an 18% chance of a rate cut in March.

European bond yields lower, German factory orders rise unexpectedly. ECB keeps rates unchanged, BOE holds steady with potential for further easing. Cryptocurrency stocks down, Bitcoin at a 1.25-year low. Tech stocks like Alphabet, Amazon, and Microsoft slide, impacting the market. Qualcomm leads chip stocks lower after weak revenue forecast. Fluence Energy, Estee Lauder, Cummins Inc, and others report disappointing earnings. McKesson Corp, Align Technology, Tapestry, Hershey, Bristol-Myers Squibb, and others report positive earnings, boosting their stocks. Elf Beauty reports strong sales, raises full-year forecast. Earnings reports from various companies on 2/5/2026.

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