**Global Market Snapshot: February 3, 2026** **Equities Rally on Trade Optimism** Global stock markets are surging, driven by a landmark **India-US trade deal** and robust earnings signals. The **Dow Jones** jumped **1.05%** to **49,407**, while the **S&P 500** climbed **0.54%** to **6,976**. The tech-heavy **Nasdaq** rose **0.56%** to **23,592**, despite some volatility in AI-related stocks like **Nvidia**, which dipped **2.89%**. Asian markets saw explosive growth, with Japan’s **Nikkei 225** soaring **3.97%** to **54,747**, fueled by a tech rebound and strong bank earnings. In India, the **Sensex** rallied **1.17%** to **81,666**, reacting positively to the reduction of US tariffs on Indian goods from **50%** to **18%**. **Precious Metals Hit Record Highs** Safe-haven assets are outperforming riskier commodities. **Gold** has staged a massive rally, surging **3.51%** to trade around **$4,823** per ounce, driven by central bank buying and global uncertainties. **Silver** outperformed even gold, jumping **4.89%** to **$83.08**. Conversely, energy markets remain soft. **Brent Crude** slipped **0.50%** to **$65.97** per barrel, and **WTI Crude** fell **0.46%** to **$61.85**, as traders weigh demand concerns against geopolitical shifts. **Crypto Market Under Pressure** Digital assets are facing significant headwinds compared to traditional equities. **Bitcoin** has retreated to approximately **$78,373**, struggling to hold key support levels following a wave of leveraged liquidations. **Ethereum** is trading near **$2,316**, up slightly by **2.2%**, but overall sentiment remains cautious as capital rotates into surging precious metals and equities. **Currency and Economic Indicators** The **US Dollar Index (DXY)** softened by **0.15%** to **97.46**, providing a tailwind for commodities. The **Indian Rupee** strengthened significantly against the dollar following the trade pact announcement. Meanwhile, the **VIX** (volatility index) dropped **6.31%** to **16.34**, signaling a reduction in immediate market fear despite the divergence between asset classes. **Key Watchlist** * **US-India Trade Deal:** The "Father of all deals" is reshaping export forecasts for agricultural and industrial sectors. * **Budget 2026:** Market participants are digesting new fiscal targets and capital gains tax adjustments in major economies. * **AI Sector:** Divergence in tech stocks suggests investors are becoming more selective with AI valuations. Research suggests monitoring the **Gold-Silver ratio** and **10-year Treasury yields** closely this week as inflation data and trade deal specifics continue to unfold.