**Global Market Wrap: February 3, 2026** **Equities Rally on Trade Optimism** Global markets kicked off February with strong momentum, driven by easing geopolitical tensions and mixed technology earnings. The **Dow Jones Industrial Average** surged **+1.05%** (+515 points) to close at **49,407**, nearing the psychological **50,000** milestone. The **S&P 500** added **+0.54%** to reach **6,976**, while the **Nasdaq Composite** rose **+0.56%** to **23,592**. **Tech Sector Volatility** Technology stocks showed divergent performance. **Intel** rallied **+4.99%** on new chip collaborations, while **Palantir** gained **+0.81%** following a strong earnings beat driven by defense demand. Conversely, **Nvidia** slipped **-2.89%** amid reports of stalled investments. In a major consolidation move, **SpaceX** has officially acquired **xAI**, aiming to unify AI capabilities with space infrastructure. **Commodities & Crypto** * **Gold** continues its historic run, jumping **+2.76%** to **$4,788/oz**, reinforcing its status as a key hedge despite equity gains. * **Crude Oil (WTI)** faced downward pressure, dipping **-0.7%** to **$61.72** per barrel. * **Bitcoin** remains volatile, trading around **$78,900**, seeing a slight pullback of **-1.5%** as investors assess recent ETF outflows. **Macro Drivers** Sentiment was significantly lifted by the confirmation of a new **US-India trade deal**, which includes a reduction of tariffs on Indian goods to **18%**. This diplomatic breakthrough has spurred optimism for improved global trade flows in 2026. Asian markets reacted positively, with Japan’s **Nikkei 225** soaring **+2.95%** to **54,211**. **Economic Outlook** Bond markets remained relatively calm, with the **10-Year Treasury yield** holding steady. Investors are now looking ahead to the upcoming Federal Reserve meeting minutes to gauge the trajectory of interest rates for the remainder of Q1 2026.