NextFin News - As of early Tuesday trade in New York, U.S. equity futures are slightly softer while Europe is mixed and commodities/FX are steady ahead of a busy data and earnings slate. investing.com
1) Pre‑Market Performance
- U.S. index futures
- Nasdaq 100 (NQ): 25,337.5 (−0.07%, −16.5 pts)
- S&P 500 (ES): 6,977.5 (−0.08%, −5.75 pts)
- Dow Jones (YM): 50,133 (−0.17%, −86 pts)
- Europe (intraday)
- FTSE 100: 10,335.77 (−0.49%)
- CAC 40: 8,329.69 (+0.08%)
- DAX: 24,973.07 (−0.17%)
- Commodities
- Brent crude: about $61.73/bbl (−0.3% intraday); WTI: about $57.88/bbl (−0.3%). economictimes.indiatimes.com
- Gold (spot): roughly $4,955/oz. kitco.com
- FX
- U.S. Dollar Index (DXY): ~97.7 (Feb 6 close). ycharts.com
2) Macroeconomic Policy and Data
Federal Reserve: On January 28, 2026 the FOMC left the fed funds target range unchanged at 3.50%–3.75% (two dissents favored a 25 bp cut). The statement cited still‑elevated inflation and stabilized unemployment, keeping policy data‑dependent. Market focus turns to January meeting minutes due Feb 18. Potential impact: steady policy plus softening labor indicators keep rate‑cut odds in play, supporting long duration and mega‑cap growth on dips. federalreserve.gov
Today, 8:30 a.m. ET
- Q4 2025 Employment Cost Index (ECI): economists look for a subdued quarterly pace (~0.8%–0.9% q/q) versus 0.8% in Q3; y/y near the mid‑3% area. Labor‑cost cooling would ease pressure on services inflation. bls.gov
- December 2025 Import/Export Price Indexes: update on traded‑goods disinflation. bls.gov
January CPI and Employment: Because of a funding lapse, the BLS rescheduled the January Employment Situation to Wednesday, February 11, and CPI to Friday, February 13 (both 8:30 a.m. ET). Consensus points to modest payroll gains and 0.3% m/m CPI (0.3% core). Near‑term volatility around these releases is likely. bls.gov
Latest activity gauges: ISM Services PMI held at 53.8 in January (business activity 57.4; prices 66.6), signaling continued expansion in the services economy; watch the elevated prices sub‑index for stickiness. ismworld.org
Labor demand: December JOLTS job openings fell to 6.542 million (vs. 7.20 million expected; November revised to 6.928 million), the lowest since 2020—evidence of a cooler but not collapsing jobs market. ADP reported just 22,000 private‑sector additions in January, underscoring “low‑hire, low‑fire” dynamics. Risk implication: softer labor demand supports a gradual disinflation path and keeps Fed‑cut optionality alive. investing.com
3) Hot News
- CME hikes precious‑metals margins after historic swings — Following last week’s violent metals selloff, CME raised initial margins on COMEX gold to 8% (from 6%) and silver to 15% (from 11%) to bolster collateral coverage amid elevated volatility. Liquidity could tighten near‑term, amplifying price moves. mining.com
- U.S. chip tariffs evolve with carve‑outs tied to domestic build‑out — A January 15 presidential action imposed a 25% tariff on a narrow set of advanced chips, with exemptions for uses that support the U.S. tech supply chain; policy work continues on broader measures. Reports also point to planned carve‑outs for Big Tech to safeguard AI capacity. Sector read‑through: supply‑chain reshoring and selective relief create winners/losers across semis and hyperscalers. whitehouse.gov
- OPEC+ holds output steady into Q1 while launching capacity review — The group kept Q1 production hikes on pause and approved a 2026 capacity‑assessment mechanism to reset baselines for 2027 quotas. Price impact: policy steadiness tempers downside risks but demand softness caps rallies. investing.com
- China’s retail bid and prop flows turbocharge metals volatility — Elevated participation from Chinese investors and notable trading‑desk positioning (e.g., Zhongcai Futures) have intensified gold/silver swings; after the shakeout, flows remain a key wildcard for precious metals. wsj.com
4) U.S. Stock Focus
- Spotify Technology (SPOT) — Q4 beat with EPS €4.43 on revenue €4.53B; MAUs hit a record 751M with 290M premium subs. Shares jump 12%–15% pre‑market as pricing and user growth lift profitability; guidance points to 759M MAUs in Q1. ft.com
- Datadog (DDOG) — Q4 revenue rose 29% to $953M with EPS $0.59 vs. $0.55 est.; billings +33% to $1.2B. Stock is up about 8%–10% pre‑market; FY26 outlook is mixed but Investor Day (Feb 12) keeps AI/security roadmap in focus. barrons.com
- Entegris (ENTG) — Chip‑materials supplier tops Q4 expectations (adj. EPS $0.70; rev. $823.9M) and guides above Street for Q1; shares up ~10% pre‑market on AI‑node exposure and process‑purity demand. investors.com
- Ferrari (RACE) — Q4 beat (EPS €2.14; revenue ~€1.80B) and 2026 outlook above expectations support a rebound in shares (+6%–9% pre‑market) despite last year’s drawdown; margin guidance >29.5% reassures on EV transition. barrons.com
- Coca‑Cola (KO) — EPS beat ($0.58 vs. $0.56) but revenue missed ($11.8B vs. $12.05B), with zero‑sugar lines a bright spot; stock −3%–4% pre‑market as 2026 growth guide skews modest. barrons.com
- CVS Health (CVS) — Q4 beat (EPS $1.09; rev. $105.7B) but 2026 cash‑flow outlook trimmed to ≥$9B; shares slip ~2%–3% pre‑market as Medicare dynamics overshadow reaffirmed 2026 EPS of $7.00–$7.20. investing.com
- S&P Global (SPGI) — Reports before the bell (7:15 a.m. ET). Traders mark shares lower pre‑market ahead of Q4 print and 2026 outlook after a strong multi‑quarter beat streak. investor.spglobal.com
- Becton Dickinson (BDX) — Guides FY26 EPS to $12.35–$12.65 (prior $14.75–$15.05) reflecting portfolio actions; despite a Q1 beat, the cut pressures shares. finance.yahoo.com
- Credo Technology (CRDO) — Premarket strength (~+15%–18%) extends a multi‑quarter AI‑interconnect growth run; recent results/outlook highlighted rapid revenue acceleration with hyperscaler demand. barrons.com
Bottom Line
Futures tilt slightly lower with Europe mixed as investors balance resilient services activity against softer labor demand and await key U.S. releases (ECI/price indexes today; jobs Wednesday; CPI Friday). Earnings remain a major catalyst, with software, semis supply‑chain names, beverages and healthcare in focus at the open.
Explore more exclusive insights at nextfin.ai.
