**Global Market Snapshot: February 3, 2026** **Headline: Equities Rally on US-India Trade Deal & Tech Rebound** Global markets are surging today, driven by a breakthrough trade agreement between the US and India, alongside a sharp recovery in Asian technology stocks. Sentiment has shifted to "risk-on" despite lingering weakness in commodities and cryptocurrencies. **US Markets (Feb 2 Close)** Wall Street steadied Monday, snapping a three-day losing streak as investors bought the dip in tech and industrial sectors. * **S&P 500:** Rose **0.54%** to **6,976.44**. * **Nasdaq Composite:** Added **0.56%** to **23,592.11**. * **Dow Jones:** Climbed **1.05%** to **49,407.66**. **Micron Technology** surged **5.5%** on bullish AI demand forecasts, offsetting a **2.8%** dip in **Nvidia**, which faced concerns over stalled OpenAI investments. **Walt Disney** lagged, falling **7.2%** on soft growth projections. **Asian Markets (Feb 3 Trend)** Asian indices posted massive gains Tuesday, catalyzed by the announcement that the US will cut reciprocal tariffs on Indian goods from **25%** to **18%**. * **India:** The **BSE Sensex** skyrocketed over **2,300 points** (+2.8%), and the **Nifty 50** reclaimed the **25,800** level. * **South Korea:** The **KOSPI** jumped **5%**, erasing Monday's losses, led by a **7.5%** rally in **SK Hynix**. * **Japan:** The **Nikkei 225** advanced **3.2%** to **54,346.33**, buoyed by a weaker yen and tech buying. **Commodities & Rates** Precious metals and energy remain under pressure as capital rotates back into equities. * **Gold:** Consolidating near **$4,652/oz** after briefly dipping below **$4,500** earlier in the week. Volatility remains high following the recent parabolic run-up. * **Crude Oil:** Brent Crude trades soft at **$66.13**, down significantly from January highs, aiding global disinflation narratives. * **US Treasuries:** The **10-year yield** edged up to **4.28%**, reacting to stronger-than-expected US manufacturing data. **Cryptocurrency** Digital assets continue to struggle with outflows totaling **$1.7 billion** this week. * **Bitcoin (BTC):** Trading around **$78,700**, down **~10%** for the month. * **Ethereum (ETH):** Followed the broader slide, with institutional ETFs flipping to net negative flows for 2026. **Market Drivers** 1. **US-India Pact:** The reduction of tariffs has sparked a massive relief rally in emerging markets, boosting global trade sentiment. 2. **Tech Resilience:** Buyers are stepping back into AI hardware stocks (Micron, SK Hynix) despite valuation concerns. 3. **Monetary Policy:** Strong US factory data may delay Federal Reserve rate cuts, keeping bond yields elevated.