**GLOBAL MARKET BRIEF: FEBRUARY 03, 2026** **MARKET PULSE: TRADE OPTIMISM & VOLATILITY** Global equities surged Tuesday, driven by a breakthrough trade agreement between the **US and India**, which slashed tariffs and resolved energy trade disputes. The deal eclipsed lingering concerns over a partial US government shutdown. Meanwhile, commodities remained highly volatile, with gold staging a massive rebound and oil prices sliding on geopolitical de-escalation. **EQUITY MARKETS** **United States** Wall Street rallied on earnings strength and trade clarity. * **Dow Jones:** **49,407** (+1.1%) * **S&P 500:** **6,976** (+0.5%) * **Nasdaq:** **23,592** (+0.6%) * **Sector Highlights:** Technology and Consumer Staples led the advance. **Oracle** fell **~3%** on capital raise news, while **Nvidia** dipped **~2.5%** amid reports of stalled investments in OpenAI. **Asia & Global** Indian markets posted historic single-day gains following the US trade deal announcement (tariffs cut to **18%**). * **Nifty 50:** **25,727** (+4.9%) * **Sensex:** **85,871** (+5.1%) * **Nikkei 225 (Japan):** **54,045** (+2.6%) **COMMODITIES & CRYPTO** **Precious Metals** Gold witnessed extreme volatility, rebounding sharply after Monday's sell-off. * **Gold Spot:** **~$4,926/oz** (+5.1% intraday) * **Silver:** **~$88/oz** (+11.3%) **Energy** Oil prices retreated as the US-India deal reduced demand-side friction and geopolitical risk premiums eased. * **Brent Crude:** **~$66.70** (-0.6%) * **WTI Crude:** **~$62.60** (-0.8%) **Cryptocurrency** Digital assets stabilized as buyers stepped in at lower levels. * **Bitcoin:** **~$78,750** (Recovering from sub-$78k lows) **KEY MARKET DRIVERS** * **US-India Trade Pact:** The **White House** confirmed a deal reducing reciprocal tariffs on Indian goods to **18%** in exchange for India halting Russian oil purchases. This sparked a massive risk-on rally in emerging markets. * **Macro Data:** US manufacturing activity expanded for the first time in 12 months, signaling economic resilience despite the partial government shutdown. * **Earnings Watch:** Investors are closely monitoring ongoing tech earnings to gauge if AI-driven capex (e.g., Oracle's **$50B** raise) is sustainable.