Market Updates

Weekly Global Market News – february Week 3

Weekly Global Market News – February -Week 3 A holiday-shortened start and Asia’s festive calendar will thin liquidity early in the week, but the macro and earnings flow intensifies from Tuesday onward. Headline drivers include a heavy slate of inflation prints across advanced economies, the latest read on the US policy outlook via FOMC minutes, flash PMIs on Friday, and China’s loan prime rate decision. On the corporate side, global miners dominate with results that will ripple across iron ore, copper, and gold, while selected tech, consumer, industrials, and energy names provide important micro clues on demand, pricing power, and capital allocation. Market conditions and closures US: Presidents’ Day on Monday; cash equities, Treasuries, and futures observe holiday hours. Latin America: Brazil and Argentina are closed Monday and Tuesday for Carnival. Asia: Lunar New Year-related closures keep mainland China shut most of the week; Hong Kong runs a half-day Monday then resumes Friday. South Korea observes Seollal for three days. Key themes to watch 1.Inflation pulse and policy path UK CPI and PPI (Wed): Services inflation stickiness vs base effects is central to the BoE’s cut timeline. A firm print would support front-end gilt yields and underpin GBP into week’s end retail sales. Euro area components (Germany, France; Tue/Wed): January readings help refine the ECB’s handoff from disinflation to timing cuts in H2. Japan CPI (Fri) and Q4 GDP (Mon): A firm core outcome and resilient growth bolster the case for the BoJ’s eventual policy normalization; watch JGB term premium and yen sensitivity. Canada CPI (Tue): Core measures and shelter components are pivotal for the BoC’s mid-year easing narrative. Germany PPI (Fri): Producer prices continue to guide margin dynamics and potential disinflation carry-through. 2. Central bank signals FOMC minutes (Wed): Market focus on balance between patience and data dependence on cuts. Any color on QT glidepath and inflation risk asymmetry will steer the front end of the US curve and the dollar. China LPR decision (Fri): With growth support in focus, watch for a targeted easing bias; credit impulse implications are key for copper, iron ore, and China-sensitive equities. 3. Global growth nowcast Flash PMIs (Fri, US/UK/Eurozone/Japan/others): Manufacturing stabilization vs services resilience; new orders and prices-paid subindices will be read for margin and inventory signals. UK retail sales and public finances (Fri): Consumption breadth after the holiday period; implications for domestic cyclicals and gilts. EU industrial production (Mon) and construction output (Thu): Capex temperature check across the bloc. 4. Earnings: Miners lead, with cross-asset read-throughs Diversified miners: BHP, Rio Tinto, Glencore, Anglo American, Antofagasta, Newmont, Kinross, Pan African Resources (Tue–Fri). Focus on: Price decks and sensitivity to iron ore, copper, and gold. Capex discipline vs growth optionality; decarbonization and permitting updates. Unit costs, FX tailwinds, logistics and energy inputs. Dividend and buyback frameworks amid volatile commodity strips. Energy: Occidental, Repsol (Thu). Watch capex, shale productivity, free cash flow allocation, and commentary on supply discipline. Industrials/building materials: CRH, Deere & Co, Airbus, Mondi, Renault (Thu). Construction volumes, backlogs, and pricing carry; aero supply chain cadence. Consumer and staples: Walmart, Nestlé, Carrefour, Pernod Ricard, Moncler, InterContinental Hotels, Live Nation (Tue–Thu). Volumes vs price/mix, private-label trade-up/down, travel and events momentum, China reopening after holidays. Tech and payments-adjacent: Palo Alto Networks, Analog Devices, Cadence, eBay, DoorDash, Etsy, Akamai (Tue–Thu). Cybersecurity budget resilience, AI hardware cycle timing, inventory normalization in semis, e-commerce take rates and cost discipline. Financials and utilities/insurance: Zurich Insurance, Centrica, Consolidated Edison, Aegon, Suncorp (Wed–Thu). Cat losses, solvency metrics, rate sensitivity, retail energy margins. Asset-class playbook FX USD: Range-bound into Wednesday’s minutes; upside risks if growth momentum remains firm. GBP: Two-way risk around CPI/retail sales; firmer data would support sterling and front-end gilt yields. JPY: Sensitive to Japan CPI/GDP; hawkish BoJ expectations could re-steepen JGBs and buoy yen. CAD: CPI surprise steers BoC cut probabilities; watch CAD crosses for volatility. AUD: Labor force data (Thu) in focus; a firm print tempers early cuts pricing. CNH: Holiday-thinned flows; LPR bias and any growth guidance could set the tone into month-end. Rates US: Curve dynamics hinge on minutes and Friday’s GDP update; stickier inflation favors bear-flattener risk. UK: Gilts vulnerable to services CPI; pay attention to breakevens. Euro area: Bunds track core inflation and PMIs; construction/IP softness still a support tailwind. Japan: JGB term premium sensitive to CPI and policy normalization chatter. Equities Expect dispersion: commodity producers, AI-adjacent names, and defensives may decouple. Low Monday liquidity can amplify moves in Europe; watch for gap risk when US reopens Tuesday. Commodities Iron ore and copper: Guided by miners’ capex/cost outlooks and China tone post-holidays. Gold: Real-yield path and central bank demand remain supportive on dips. Oil: Macro growth tone and inventory data to drive spreads; energy equities guided by capital return commentary. Event radar India’s AI Impact Summit in New Delhi (Mon–Fri): High-profile tech and industry leaders discuss AI deployment and infrastructure. Semis, hyperscale capex, and enterprise software guidance will be parsed for spend intentions and timelines. Political and geopolitical watch: Developments in the Middle East and broader US policy headlines may add episodic risk to energy and haven flows. The week’s calendar at a glance Monday Market closures: US (Presidents’ Day), Brazil and Argentina (Carnival), South Korea (Seollal), China (Lunar New Year week), Hong Kong (half-day). Data: EU industrial production (Dec), India WPI (Jan); Japan and Switzerland Q4 GDP first estimates; UK Rightmove house prices (Feb). Earnings: Bridgestone (FY). Tuesday Data: Canada CPI (Jan); Germany CPI/HICP (Jan); UK labor market stats, flash productivity (Q4), ONS housebuilding; US Conference Board Employment Trends Index. Earnings: Antofagasta (FY), BHP (HY), Cadence Design Systems (Q4/FY), Caesars Entertainment (Q4/FY), Carrefour (FY), DTE Energy (Q4/FY), Fluor (Q4/FY), Genuine Parts (Q4/FY), Havas (FY), InterContinental Hotels (FY), Kenvue (Q4/FY), Kerry Group (FY), Medtronic (Q3), Palo Alto Networks (Q2), Vulcan Materials (Q4/FY). Wednesday Data: France CPI (Jan); Germany labor market (Q4); UK CPI and PPI (Jan), UK house price indices and private rents (Feb). Central banks: FOMC minutes (Jan meeting). Earnings: Analog Devices (Q1), BAE Systems (FY), Celanese (Q4/FY), Conduit Re (FY),

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February 13 – Daily Market Update

13 February 2026 – Daily Market Updates Markets Daily | Broad Market Update Overview Global markets are treading cautiously ahead of a key US inflation print. US equity futures are slightly lower, European stocks are softer, and the dollar is a touch firmer. Asian trading was mixed, with Hong Kong underperforming. Bond markets are steady to marginally weaker as traders balance hopes for rate cuts later this year against signs that underlying price pressures may prove stickier than previously assumed. Crypto assets are firmer, and select commodity prices are consolidating. Snapshot (approximate, 06:20 ET) US equity futures: modestly lower (around -0.3%) Europe: Stoxx 600 slightly in the red (about -0.3%) US dollar: marginally stronger (roughly +0.1% on a broad index) Asia: Hong Kong notably weaker (down nearly 1.7%) Bitcoin: higher (around +1.5%–2%) What’s driving markets All eyes on inflation: Today’s US consumer price reading is poised to set the near-term tone for rates and risk assets. An upside surprise could challenge the consensus for multiple rate cuts later this year, while a softer print would likely revive the “soft-landing” narrative. Rates debate: Front-end yields remain sensitive to data surprises. While markets still discount rate reductions this year, the path and timing remain in flux amid resilient growth and evidence of lingering services inflation. Dollar bid, commodities mixed: The greenback’s mild strength reflects pre-data caution. Base metals are consolidating amid shifting policy headlines, while energy prices are range-bound as supply dynamics offset demand questions. AI jitters cool, but rotations persist: After a bout of AI-driven volatility and sharp factor rotations, equity markets stabilized. Still, investor positioning remains highly responsive to headlines about automation and productivity, with periodic knock-on effects across software, logistics, financial services, and professional industries. Equities US: The tape is balanced ahead of the data. Semiconductor equipment names have benefited from constructive guidance tied to capacity and AI-related demand. By contrast, some ad-driven internet platforms have faced pressure on softer revenue commentary, while select streaming and connected-TV names saw relief on better-than-feared results. An EV manufacturer’s progress toward profitability has supported sentiment in that niche. Europe: Consumer and luxury-linked names lagged after softer sales updates in select categories, reinforcing a defensive tone. Broader indices remain range-bound as investors await US macro catalysts. Asia: Hong Kong underperformed on renewed growth concerns, while other regional markets were mixed as earnings season and global rate expectations guided flows. Fixed income and FX Treasuries: Yields are little changed to slightly higher into the CPI release. The curve remains in a holding pattern, with two- to five-year maturities most sensitive to any re-pricing of the Fed path. Global bonds: Core European yields track US moves; peripheral spreads are stable. Credit markets remain orderly, though bid-offer typically widens around major data. FX: The dollar firmed modestly on event risk hedging. High-beta and cyclical currencies are range-trading; the yen remains driven by relative policy expectations and US yield direction. Commodities and crypto Commodities: Industrial metals are steady to softer amid trade-policy headlines and growth worries. Oil holds in a tight band as supply risks offset macro caution. Gold is little changed, reflecting the push-pull between real yields and hedging demand. Digital assets: Crypto benchmarks are firmer after recent volatility. Institutional interest and flows remain supportive, but positioning is highly reactive to macro data and regulatory developments. Primary markets and corporate flow New issuance: Signs of select US IPO postponements and resized offerings reflect a more discerning tone on valuations and near-term demand. Seasoned issuers in investment-grade and high yield continue to access markets, but windows may narrow around data prints. Earnings pulse: Reporting volume is slowing into the long weekend. A handful of consumer and healthcare names report before the open; guidance and margin commentary remain the key swing factors for single-stock moves. The day ahead — key things to watch US CPI: Core services momentum, shelter disinflation pace, and goods pricing will be dissected for clues on the durability of progress toward target. Rate expectations: Watch front-end yields, Fed-dated OIS, and terminal-rate pricing post-release. Equity leadership: Semis and AI-adjacent beneficiaries versus defensives; any rotation after the data could set the tone into month-end. Liquidity: Expect wider spreads and quicker price gaps around the print; levels may normalize into the afternoon if outcomes meet consensus. Risk considerations Event risk: Macro surprises can prompt outsized moves in rates, FX, and cyclicals. Hedging and disciplined risk limits are advisable around releases. Policy and trade: Shifts in tariff frameworks and industrial policy can influence metals, industrials, and global supply-chain plays. Earnings and guidance: With macro uncertainty elevated, forward guidance remains a primary driver of dispersion across sectors. This material is provided for information purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instrument. Past performance is not indicative of future results. Markets are volatile and may move quickly following economic data or policy developments. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and

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February 12 – Daily Market Update

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12 February 2026 – Daily Market Updates Markets Daily — Broad Market Update Overview Global equities are starting the day with a constructive tone as gains in Europe and across much of Asia set the stage for a modestly higher US open. Leadership continues to broaden beyond the US, with several Asian markets and select Latin American benchmarks outpacing major US indices so far this year. A softer dollar and steady credit conditions are supporting risk appetite, while investors continue to rotate toward cyclicals and rate‑sensitive areas alongside ongoing interest in AI‑linked beneficiaries. Equities US: Futures signal a firmer open, with breadth improving beyond mega-cap tech. Transports, industrials and select financials have shown relative strength as freight volumes, travel demand, and capital spending expectations stabilize. Software and certain ad-tech names remain more mixed as investors sort through AI-related competitive dynamics. Europe: Regional indices are higher on a wave of company updates, with beats and improved guidance out of several sectors helping sentiment. Defensives remain well bid, but cyclical groups tied to logistics, travel, and manufacturing have led recent outperformance. Asia: Markets broadly advanced, with North Asia continuing to benefit from demand across the semiconductor and AI supply chains. Corporate reforms and shareholder-return initiatives remain supportive in parts of the region. ASEAN and India trade mixed as valuations and policy outlooks are reassessed following a strong multi‑year run. Style and factors: Momentum has cooled at the very top of US tech while value, quality, and income factors gain traction. Earnings revision breadth is improving outside the US, adding to the case for regional diversification. Rates and Credit Sovereigns: US Treasury yields are little changed in early trade, with the curve holding recent ranges as markets await the next round of inflation and activity data. European core yields are steady to slightly higher alongside firmer risk sentiment. Credit: Investment-grade spreads remain tight and high-yield risk premiums are stable. Primary issuance is active, with healthy order books pointing to robust demand for carry. Currencies The dollar index is edging lower, aiding risk assets and commodities. High-beta FX is firmer on the back of stronger global growth expectations, while the yen remains sensitive to policy signaling and rate differentials. Select EM currencies are steady, with idiosyncratic drivers continuing to dominate. Commodities Energy: Crude is rangebound as supply developments offset demand optimism tied to improved growth signals in Asia. Refining margins and inventory trends remain in focus. Metals: Industrial metals are mixed; copper and aluminum find support on infrastructure and data-center buildout demand, while near-term macro uncertainty caps rallies. Precious: Gold is steady, with real yields and dollar moves remaining the key drivers. Digital Assets Major tokens are modestly higher. Liquidity thins into weekends and during off-hours, which can amplify moves; positioning and options expiries remain important near-term catalysts. Corporate and Deal Flow Themes Asset management consolidation continues to gather pace as firms seek scale, distribution reach, and technology investment. AI remains a capital magnet, with large private funding rounds underscoring investor conviction in foundational models and enterprise adoption. Health care news flow is active, with leadership changes and regulatory milestones producing outsized single‑stock moves. Payments and fintech updates highlight a recalibration of revenue growth expectations; unit economics and international expansion are key differentiators. Consumer staples and food brands are under scrutiny as portfolio reshaping and pricing power normalize post‑pandemic. Travel, logistics, and freight have re-rated higher on improving demand data and efficiency gains. Key Themes We’re Watching Regional rotation: Outperformance outside the US suggests a broader leadership handoff. Valuations, earnings revisions, and currency dynamics support a case for diversified exposure. Cyclicals vs. secular growth: AI-related beneficiaries remain core to long-term tech spending, but cyclical groups tied to transport, capital goods, and travel are capturing incremental flows as growth expectations stabilize. Policy path: Central bank communication and incoming inflation prints remain pivotal for duration, rate-sensitive equities, and FX trends. Liquidity and market structure: Thinner trading conditions during off-hours can exacerbate swings in crypto and smaller-cap equities; be mindful of leverage and key technical levels. Earnings quality over headlines: Cash flow durability, pricing power, and balance sheet strength are being rewarded more consistently than top-line beats alone. What’s Ahead Macro: Inflation, retail sales, and housing updates across major economies; central bank speakers and minutes. Micro: A busy earnings slate across airlines, payments, semiconductors, travel platforms, and select industrials. Guidance on 2026 capex, AI monetization, and margin trajectories will be in focus. Portfolio Considerations Diversification: Rebalance US-heavy allocations to include select Asia and Europe exposures where earnings revisions and policy tailwinds look favorable. Quality bias: Favor companies with strong free cash flow, resilient margins, and reasonable leverage. Balance secular and cyclical: Pair AI and cloud infrastructure beneficiaries with transportation, logistics, and other economically sensitive names showing improving demand. Currency: Consider hedging where dollar softness or volatility could materially impact returns. Risk management: Use disciplined position sizing and stop‑loss protocols, especially into low‑liquidity windows. This material is for information purposes only and is not investment advice or a solicitation to buy or sell any financial instrument. Markets are volatile; consider your objectives and risk tolerance before making investment dec Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and

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February 11 – Daily Market Update

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11 February 2026 – Daily Market Updates Markets Daily — Broad Market Update Market snapshot (as of 6:06 a.m. ET) US equity futures: flat to slightly lower (S&P 500 futures near 6961, -0.01%) Europe: Stoxx 600 around 619.6, -0.22% Asia: Hang Seng closed up roughly 0.3% near 27266 US dollar: softer by about 0.3% on a broad trade-weighted basis Bitcoin: near $66600, down roughly 2.9% US Treasuries: yields edging lower across the curve Macro and policy “Bad news is good news” is back in focus. Softer data have reinforced expectations that major central banks, led by the Fed, could begin easing later this year. Markets are leaning toward multiple rate cuts in 2026, though timing remains data-dependent. Today’s US labor-market update will be pivotal. Traders will watch headline payrolls, the unemployment rate, participation, average hourly earnings, and—critically—revisions to prior months. A cooler set of numbers would bolster the case for earlier policy support; an upside surprise could push back those timelines. Global growth signals are mixed: Europe continues to show uneven momentum, while Asia’s tech‑heavy markets have benefited from the weaker dollar and ongoing demand for semiconductors and AI infrastructure. Equities US: Index futures are steady as investors balance resilient mega-cap tech leadership with late‑cycle dynamics favoring quality balance sheets and cash flow. Rate‑sensitive segments tend to benefit when yields fall, while small caps remain more volatile around macro surprises. Europe: Modest declines in early trade as investors digest earnings, cost‑reduction plans, and guidance resets. Defensive pockets (utilities, staples, healthcare) are finding support when bond yields ease, while cyclicals trade more on growth and China‑linked headlines. Asia: Mixed session. Tech‑oriented markets continue to attract flows on AI hardware demand, while parts of Greater China remain range‑bound amid policy and property‑sector uncertainty. Rates and credit US Treasuries are firmer, with the belly of the curve leading on softer growth signals. A cool employment print would likely extend the rally and favor a bull‑steepening bias; a hotter release risks a reversal with front‑end yields most sensitive. Investment‑grade credit spreads are broadly stable; high yield trades in a tight range but remains sensitive to earnings surprises and any pickup in default chatter. Currencies The dollar is easing for a fourth session as rate‑cut probabilities firm. A benign wage‑inflation number would likely keep the pressure on the greenback; stronger earnings growth could flip the script. G10: Euro and pound are firmer against the dollar; yen steadies as US yields dip. Select commodity currencies are consolidating after recent gains. Commodities and crypto Oil: Range‑bound as supply risks and inventory dynamics offset growth concerns. Positioning remains cautious ahead of key macro prints. Gold: Supported by lower real yields and a softer dollar; ETF flows remain the swing factor. Digital assets: Bitcoin is retracing after a strong multi‑week run; intra‑day volatility remains elevated around liquidity pockets and risk sentiment. Theme to watch: The AI dispersion Markets are recalibrating winners and potential laggards from rapid AI adoption. Hardware beneficiaries and energy‑efficient infrastructure remain in focus, while parts of software, services, and select financial niches face headline‑driven volatility. Expect continued differentiation at the single‑name level as business models adapt and pricing power is tested. Event radar US labor market report: headline jobs, unemployment rate, participation, average hourly earnings, and prior‑month revisions Central bank speakers and minutes across major economies Corporate earnings: watch forward‑guidance language, cost discipline, AI investment pacing, and capital‑return updates Trading lens: What could move markets today Weaker‑than‑expected jobs/wage data: likely bullish duration, softer dollar, supportive for rate‑sensitives and quality growth Stronger‑than‑expected jobs/wage data: potential bear‑flattening in rates, dollar bounce, factor rotation toward cyclical/value and financials Big revisions: could meaningfully reshape the narrative even if the headline meets estimates House view highlights Macro remains a tug‑of‑war between cooling growth and prospective policy support. Near term, data beats/misses will likely drive sharp, factor‑level rotations more than index‑directional trends. Stay selective within equities, with an emphasis on quality balance sheets and durable cash flow. In fixed income, carry remains attractive, but duration should be sized with event risk in mind. Important information This material is for information only and does not constitute investment advice or a recommendation to buy or sell any security or strategy. Markets are volatile and can move quickly around economic releases and company news. Consider your objectives, risk tolerance, and local regulations before making investment decisions. Market levels and performance figures referenced above are indicative and subject to change. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. February 11 – Daily Market Update February 11, 2026 11 February 2026 – Daily Market Updates Markets Daily —… Read More February 10 – Daily Market Update February 10, 2026 10 February 2026 – Daily Market Updates Markets Daily: Caution… Read More February 4 – Daily Market Update February 4, 2026 4 february 2026 – Daily Market Updates Markets Daily: Broad… Read More February 3 –

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February 10 – Daily Market Update

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10 February 2026 – Daily Market Updates Markets Daily: Caution returns as rates nudge higher, Japan surges, and AI-driven dispersion deepens Global markets are mixed to start the day, with a guarded tone across risk assets as investors weigh shifting rate expectations, fresh politics in Japan, and a still-evolving narrative around artificial intelligence and software Market snapshot US equity futures: slightly lower, pointing to a softer Wall Street open after last week’s late rebound Europe: little changed overall, with sector rotation rather than clear index direction Rates: US 10-year Treasury yields are edging up, reflecting a modest back-up in real rates into a heavy data week Asia: Japan’s major equity benchmark leapt to new highs following a strong electoral outcome that reinforced policy continuity and reform momentum Commodities: gold is firmer after recent volatility; crude is steady ahead of industry outlooks due later in the week FX: the dollar is broadly steady; sterling remains sensitive to UK political headlines Top themes today Higher-for-longer jitters creep back in: A small rise in Treasury yields is keeping risk appetite in check. With key US data approaching, investors are reluctant to chase equities after last week’s swift recovery. Implied equity volatility remains above its recent average, a sign that hedging demand persists. AI is no longer a tide that lifts all boats: The market’s AI trade is becoming more selective. Instead of a broad-based lift across software and tech, leadership is narrowing to firms with clear monetization paths, defensible data, or infrastructure advantages. This is creating wider performance gaps both within tech and across adjacent sectors exposed to automation themes. Japan’s equity momentum strengthens: A decisive political result has bolstered expectations for continued pro-growth policy, corporate governance improvements, and capital efficiency gains. Earnings revisions and buyback activity remain key supports. Currency dynamics and the domestic rate path are additional levers to watch. China’s gradual reserve diversification draws muted market reaction: Reports that Chinese authorities are encouraging banks to trim concentrations in US government debt elicited only a modest move in Treasuries. The long-running trend of diversified reserve management has been offset over time by buying from other foreign investors and domestic demand, helping contain market impact. Commodities and positioning: Gold’s sharp swings last week underlined how crowded positioning and macro hedging can amplify moves. Oil traders will look to upcoming producer and agency reports for fresh guidance on balances, non-OPEC supply, and demand resilience. US session setup Equities: Futures point to a consolidation day. Under the surface, factor and sector dispersion remains elevated, with short covering having contributed to last week’s rebound in some of the most volatile names. Turnover trends suggest investors are adding selectively rather than re-risking broadly. Credit: Primary markets remain open, but rate volatility argues for opportunistic issuance windows and continued focus on balance-sheet quality. Rates: The modest bear-steepening bias into data is consistent with cautious duration positioning. FX: The dollar is stable; idiosyncratic political risks keep select European currencies on watch. The week ahead: data, policy, and earnings to watch Monday: Mexico inflation prints; comments expected from US and European central bank officials. Tuesday: US retail sales, small business sentiment, and employment cost data will provide a read on the consumer and wage trends; several large-cap companies in banking, beverages, autos, and media report results. Wednesday: China inflation data and producer prices; US nonfarm payrolls, jobless rate, and the federal budget update; energy market outlook from producers. Corporate updates include hospitality and enterprise tech. Thursday: Inflation releases from parts of Asia and Europe; UK growth and industrial production; US jobless claims and existing home sales; additional central bank speakers; global oil market outlook from international agencies; select crypto and fintech earnings. Friday: China home-price data; euro-area growth and country-level inflation updates; US consumer inflation—the key macro highlight into the weekend. What we’re watching Breadth and leadership: Can cyclical sectors and small/mid caps participate, or does performance remain concentrated in a handful of mega-cap and infrastructure plays? Earnings guidance vs. multiples: With rates elevated, the bar for richly valued names is higher. Watch free-cash-flow trajectories and margin commentary. Labor-market signals: Wage metrics and participation will help shape the path of services inflation and central-bank reaction functions. Duration and curve: A hotter CPI would likely keep the front end anchored higher-for-longer while challenging longer maturities; a cooler print could revive soft-landing positioning. FX spillovers: Political headlines and relative growth surprises may drive cross-currency volatility even if the broad dollar remains range-bound. Portfolio considerations (not investment advice) Quality bias: Favor stronger balance sheets, consistent cash generation, and pricing power while rates remain elevated. Diversify AI exposure: Consider a balanced approach across infrastructure, enablers, and proven applications rather than a blanket sector bet. Manage rate risk: For fixed income, a staggered-duration or barbell approach can help navigate data volatility. Hedging discipline: Elevated dispersion argues for keeping risk controls and hedges in place around major macro releases. Global mix: Japan’s reform and shareholder-return story remains a constructive long-term theme; monitor currency and policy dynamics. Key risks Upside inflation surprises or stickier services inflation Policy miscommunication amid a crowded central-bank speaker slate Geopolitical or election-related volatility spilling into rates and FX Liquidity pockets and mechanically driven flows (e.g., systematic or passive rebalancing) amplifying short-term swings This material is provided for information only and does not constitute investment advice or a recommendation to buy or sell any security, sector, or strategy. Markets are volatile and past performance is not indicative of future results. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed

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February 4 – Daily Market Update

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4 february 2026 – Daily Market Updates Markets Daily: Broad Markets Steady, Rotation Theme Persists Market overview US equity futures are mixed in early trade as investors balance resilient economic data with a busy stretch of corporate results. Large-cap benchmarks are little changed overall, with growth-oriented indexes lagging value and cyclical segments. Treasury yields are hovering near recent ranges as markets reassess the timing and pace of potential policy easing this year. Rate-sensitive sectors remain choppy while financials and industrials show relative stability. The US dollar is firmer against most major peers, reflecting cautious risk sentiment and interest-rate differentials. Commodity-linked currencies are uneven. Commodities are broadly supported. Crude is up for a second session on ongoing geopolitical tensions and supply headlines, while gold extends its rebound amid a mix of haven demand and currency moves. Themes in focus Rotation toward cash-generative, economically sensitive companies has continued. Staples, energy, and select materials have outperformed high-multiple growth shares at the margin, helped by solid nominal growth and rising capital discipline across cyclicals. Software and some richly valued technology pockets remain volatile as investors scrutinize monetization timelines and profit leverage around artificial intelligence spending. Hardware and infrastructure providers tied to AI demand are seeing more differentiation based on guidance and capacity plans. Healthcare is in the spotlight as competitive dynamics intensify across certain therapy categories, with pricing and market-share expectations being recalibrated. Dispersion within the group remains high. M&A chatter and strategic portfolio moves are picking up into earnings season, adding stock-specific swings without altering the broader macro tone. Rates, FX, and credit Front-end yields reflect a later start and shallower path for policy easing compared with earlier expectations, while longer maturities are anchored by stable inflation breakevens. The curve remains relatively flat. Credit markets are orderly. Investment-grade spreads are steady and high-yield risk appetite is selective, with quality continuing to command a premium. Primary issuance remains active when windows are open. Commodities Oil prices are supported by geopolitical risk and cautious supply expectations. Any confirmed changes in export flows or shipping routes could inject additional volatility. Precious metals are bid as investors seek diversification and as real yields consolidate. Flows into hedging and allocation strategies remain a driver alongside currency moves. Industrial metals are mixed, reflecting a tug-of-war between inventory normalization and uneven global manufactuing data. Earnings landscape The heart of reporting season is delivering wide dispersion. Companies beating on both revenue and margins are being rewarded, while cautious outlooks are drawing outsized reactions. Mega-cap technology, chipmakers tied to AI infrastructure, select consumer names, and large-cap healthcare feature prominently this week. Guidance around capital expenditure, pricing, and cost control remains the dominant catalyst for single-stock moves. Digital assets Major cryptocurrencies are softer overall, with leverage and liquidity conditions amplifying moves. Correlations with risk assets remain inconsistent day to day, but macro headlines and dollar strength continue to influence direction. What to watch next Corporate guidance: Commentary on AI-related spending, inventory management, and demand elasticity across consumer categories will shape sector leadership. Inflation and growth signals: Upcoming labor and services activity data, along with central bank remarks, will inform the path of rates and the durability of the current rotation. Positioning and liquidity: With volatility clustering around earnings and geopolitical headlines, intraday liquidity can vary; expect wider moves on stock-specific news. Portfolio considerations Maintain balance between quality growth and resilient value exposures; emphasize free cash flow, pricing power, and healthy balance sheets. In fixed income, a laddered approach can help navigate path uncertainty for policy rates, while maintaining attention to credit quality. Consider risk management tools where appropriate, as dispersion remains elevated and headline sensitivity can produce abrupt swings. This commentary is a general market update intended for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Markets are fluid and conditions may change without notice. Clients should assess their individual circumstances and consult a financial professional before making investment decisions. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. February 4 – Daily Market Update February 4, 2026 4 february 2026 – Daily Market Updates Markets Daily: Broad… Read More February 3 – Daily Market Update February 3, 2026 3 February 2026 – Daily Market Updates Market snapshot (as… Read More February 2 – Daily Market Update February 2, 2026 2 February 2026 – Daily Market Updates Markets Daily: Volatility… Read More January 30 – Daily Market Update January 30, 2026 30 January 2026 – Daily Market Updates Markets Daily: Risk-off… Read More January 29 – Daily Market Update January 29, 2026 29 January 2026- Daily Market Updates Quick take Metals rally… Read More January 28 – Daily Market Update January 28, 2026 28 January 2026 Daily Market Updates Markets Daily: Global Risk… Read More January 27 – Daily Market Update January 27, 2026 27 january 2026 – Daily Market

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February 3 – Daily Market Update

Leave a Comment / Daily Market Updates, Market Updates / PhillipCapital DIFC Research Team

3 February 2026 – Daily Market Updates Market snapshot (as of 6:49 a.m. ET; market data may be delayed) S&P 500 Futures: 7008.25 (+0.08%) Nasdaq 100 Futures: 25938.5 (+0.34%) US 10-Year Treasury Yield: 4.285% (+0.8 bps) Gold: 4,908.37 (+5.30%) Morning rundown Risk appetite is stabilizing after a volatile stretch. US equity futures are firmer, led by technology, while core yields edge higher and the dollar eases. Precious metals are rebounding sharply, reversing part of the previous session’s slide. The tone across Asia was broadly constructive, with Korea leading gains and semiconductors among the standouts. Europe opened higher, echoing the recovery in cyclicals and AI-linked names. Commodities Precious metals: Gold and silver are bouncing as bargain-hunters and short-covering meet ongoing longer-term interest from asset allocators. The speed of the move underscores how leveraged positioning can amplify swings in both directions. Energy and industrial metals: A modest risk-on mood is supporting pro-cyclical commodities, though traders remain sensitive to macro headlines and policy signals. Equities US: Futures point to gains with the AI/data-center complex back in focus. Investors are watching whether beaten-down groups from the prior selloff extend their recovery and whether earnings guidance validates recent multiple expansion. Asia: Major benchmarks advanced, with Korea outperforming on a broad tech rally. Japan and Hong Kong saw more measured rebounds as investors weigh currency dynamics and policy uncertainty. Europe: Early strength is broad-based, with defensives participating alongside cyclicals. Market depth remains thinner than usual around headline risk, keeping intraday volatility elevated. Rates and FX Sovereigns: The 10-year Treasury yield is little changed, holding near recent ranges as markets balance resilient growth indicators with sticky services inflation. Curves remain biased toward slight bear-steepening on any upside data surprises. Currencies: The dollar is marginally softer against a basket of peers. Cross-asset correlations suggest a modest reversion to risk-taking, with higher-beta FX stabilizing. Central banks: A major Asia-Pacific central bank lifted its policy rate, the first notable developed-market hike of the year, citing persistent price pressures. Markets are reassessing the global policy path, with timing and pace of eventual easing remaining data-dependent. Corporate calendar and flows Earnings: A busy slate spans consumer staples, healthcare, payments, and restaurants before and after the US market close. Key themes to monitor: pricing power, volume elasticity, cost discipline, and AI-related capex/commentary from enterprise-facing firms. Deal and listing watch: Headlines around a prominent private space-and-AI combination are fueling discussion of a potential landmark listing later this year. Any formal timeline or structure could influence sentiment in growth equities and late-stage private markets. Credit: Investment-grade spreads remain tight by historical standards, reflecting strong technicals. With valuations rich, investors are attentive to any wobble in AI-led growth narratives or earnings misses that could widen risk premia. What to watch next Macro: Upcoming labor, inflation, and activity data across major economies will frame the near-term path for yields and the dollar. Micro: Guidance from AI-adjacent hardware, cloud, and semiconductor supply chains will be scrutinized for signs of demand normalization versus continued buildout. Positioning: After outsized moves in metals and tech, liquidity pockets and options flows may continue to amplify intraday swings. House view summary Near-term tone: Cautiously risk-on, but fragile given tight credit spreads and elevated expectations. Key swing factors: Central bank communication, earnings quality, and the durability of AI-driven capex. Portfolio considerations: Diversification and attention to liquidity remain prudent amid fast-moving cross-asset rotations. Notes All market levels are for information only and subject to change. This commentary is not investment advice or a solicitation to buy or sell any security. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. February 3 – Daily Market Update February 3, 2026 3 February 2026 – Daily Market Updates Market snapshot (as… Read More February 2 – Daily Market Update February 2, 2026 2 February 2026 – Daily Market Updates Markets Daily: Volatility… Read More January 30 – Daily Market Update January 30, 2026 30 January 2026 – Daily Market Updates Markets Daily: Risk-off… Read More January 29 – Daily Market Update January 29, 2026 29 January 2026- Daily Market Updates Quick take Metals rally… Read More January 28 – Daily Market Update January 28, 2026 28 January 2026 Daily Market Updates Markets Daily: Global Risk… Read More January 27 – Daily Market Update January 27, 2026 27 january 2026 – Daily Market Updates Market overview Equities:… Read More January 26 – Daily Market Update January 26, 2026 26 January 2026 – Daily Market Updates Markets Daily –… Read More January 23 – Daily Market Update January 23, 2026 23 January 2026 – Daily Market Updates Markets Daily |… Read More January 22 – Daily Market Update January 22, 2026 22 January 2026 – Daily Market Updates Market snapshot (as… Read More January 21 – Daily Market Update January 21, 2026 21 january 2026 – Daily Market Updates Daily Markets Briefing… Read More January 20 – Daily Market

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February 2 – Daily Market Update

Leave a Comment / Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

2 February 2026 – Daily Market Updates Markets Daily: Volatility returns as crowded trades reset; central banks and jobs data in focus Market Snapshot (as of 06:52 am ET) S&P 500 Futures: 6933.5 (-0.46%) Nasdaq 100 Futures: 25466.25 (-0.79%) Bitcoin: 77851.5 (+1.86%) Gold: 4774.16 (-2.45%) Opening take Risk appetite softened to start the week as investors trimmed popular long positions across equities and commodities. US equity futures point lower for a fourth session, the dollar is little changed, and rate markets are steady ahead of a dense macro calendar that includes major central bank decisions in Europe and the US January employment report. The notable outlier is crypto, where prices stabilized after a volatile weekend. Today’s key themes Commodities swing: Precious metals and energy retreated sharply, reflecting a combination of profit-taking, position de-risking, and idiosyncratic liquidity stresses in parts of Asia. Intraday moves have been wide, a hallmark of thin conditions into regional holidays and tighter margins for leveraged positions. Dip-buying interest is emerging in physical markets, but price discovery remains unsettled. Tech-led equity pullback: After a strong run, high-beta segments—particularly AI-adjacent semiconductor names in Asia—saw outsized declines, with spillovers to Europe and US futures. The catalyst mix includes lofty positioning, shifting expectations around capex plans, and a broader “take profits first, ask questions later” mindset into the macro-heavy week. Crypto steadies: Digital assets found a footing after recent losses, trading more in line with broader risk tone rather than in isolation. Correlations with high-growth equities remain elevated, and crypto-exposed equities are seeing pressure in premarket trade despite the rebound in headline tokens. FX and rates: The dollar is marginally softer against majors, with yields largely unchanged as investors await guidance from the ECB and BoE and Friday’s US jobs report. Expect limited directional conviction until those catalysts land. Across regions Asia: Equities weakened, led by technology hardware and semiconductors. A combination of profit-taking and local market liquidity dynamics amplified the moves. Commodity-related shares lagged amid the metals pullback. Europe: Stocks opened mixed-to-lower, with miners and energy underperforming. Defensive sectors held up better as investors positioned for Thursday’s central bank decisions. Sovereign bonds were steady. US: Futures are lower, with cyclical and momentum cohorts indicated down more than the broader tape. Volatility is ticking up from subdued levels as options markets price wider ranges into Friday’s payrolls. Corporate and sector highlights Metals and mining: Gold and silver volatility weighed on producers; beta to spot prices remains high after a strong year-to-date run. Position-sensitive names are seeing outsized moves. Energy: Crude softness and headline risk around geopolitics dragged the complex. Integrateds and E&Ps are indicated lower premarket. AI and cloud: A large enterprise software provider flagged sizable funding plans to expand cloud/AI infrastructure capacity, underscoring the ongoing capex race. Markets continue to debate the durability and timing of returns on hyperscale spend. Media and consumer: A prominent media conglomerate’s leadership planning remains in focus alongside earnings. Consumer and staples bellwethers will offer read-throughs on pricing power and volumes this week. Crypto-linked equities: Miners, exchanges, and infrastructure plays are under pressure despite stabilization in major tokens, reflecting sensitivity to recent drawdowns and hash-price dynamics. The week ahead: macro diary Monday: Global manufacturing PMIs; selected central bank speakers. Earnings from large-cap consumer, entertainment, and software names. Tuesday: Australia policy decision; Eurozone bank lending survey; France/South Korea/Turkey CPI; Spain unemployment; US JOLTS and vehicle sales. US earnings heavy in payments, beverages, pharma, and semis. Wednesday: Services PMIs (selected regions); US ADP employment and ISM services; US Treasury financing outlook. Earnings include a major US search/advertising platform and a global bank. Thursday: Policy decisions from the ECB, BoE, and Mexico; Germany factory orders; France industrial production; US initial jobless claims. Private equity, energy, and ecommerce names report. Friday: US nonfarm payrolls, unemployment rate, and consumer sentiment; Canada jobs; Germany industrial production; India policy decision; Japan household spending and leading index. What we’re watching next Crowding unwind: The rotation out of year-to-date winners suggests positioning rather than macro alone is driving price action. Watch for signs of stabilization in flows before chasing reversals. Central bank tone: Any updates on balance sheet plans and inflation assessment from the ECB/BoE could steer duration and FX into the weekend. US payrolls: After resilient labor prints, any shift in wage growth or participation could influence the timing and magnitude of rate-cut expectations. Earnings breadth: Guideposts from mega-cap tech, semis, payments, and energy will shape the narrative on AI monetization, consumer health, and capex cycles. Risk management considerations Elevated intraday swings in commodities and high-beta equities argue for disciplined sizing and wider stop tolerances. Into Friday’s data, consider scenario planning around labor-market surprises and the knock-on to front-end rates, tech multiples, and USD direction. For hedgers, skew in index options has richened modestly; cross-asset hedges (gold, USD, duration) have been inconsistent—diversification across hedges may be prudent. This material is provided for information only and does not constitute investment advice or a solicitation to buy or sell any financial instrument. Markets are volatile and subject to change. Consider your objectives, risk tolerance, and local regulations before making investment decisions. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high

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Weekly Global Market News – february Week 1

Leave a Comment / Market Updates, Weekly Global Market Update / PhillipCapital DIFC Research Team

Weekly Global Market News – February -Week 1 Week Ahead Playbook (Week of 3–9 February 2026) What matters this week Japan’s snap election: A short, high-stakes campaign culminates on Sunday. Markets are weighing whether a renewed mandate for the ruling LDP under Prime Minister Sanae Takaichi could usher in looser fiscal policy and keep upward pressure on long-dated JGB yields. Thailand votes: A test of stability for a slowing economy contending with trade frictions, weather-related disruption and a tense regional backdrop. The baht and local equities will be sensitive to coalition arithmetic and policy signals. Rates on hold in Europe? The ECB and BoE meet. Consensus looks for no change, with the ECB steady and the BoE waiting for inflation to settle sustainably at target before cutting. Guidance and forecasts will matter as much as the decisions. Macro pulse check: Global PMIs and the US January jobs report headline a busy data slate that will shape views on growth resilience and the pace of disinflation. Earnings heavyweights: Big Tech, energy majors, pharma and consumer bellwethers report. AI investment, cloud and ad trends, obesity drugs, buybacks and capex discipline are the key themes. Geopolitics and industry: The Singapore Airshow opens with defense and aerospace in focus. Later in the week, the Winter Olympics in Milan-Cortina provide a tourism and media side-note to markets. Central bank watch European Central Bank (Thu): Broadly expected to leave rates unchanged (market narrative centers on a steady deposit rate profile early in 2026). Watch: Inflation trajectory versus the ECB’s comfort with near-term downside surprises. Updated language on growth, wage dynamics and the path from “restrictive for longer” to eventual easing. Any hints on balance-sheet operations and reinvestments. Bank of England (Thu): The MPC is widely expected to hold while it waits for inflation to return to 2% in the spring. Watch: Vote split and tone of forward guidance. Fresh views on trend productivity, following signs of a potential UK productivity pickup. How the BoE balances service inflation stickiness against easing goods disinflation. At the ballot box Japan (Sun): The shortest general election campaign in decades has amplified market volatility. Key swing factor: households squeezed by higher prices and rates. Market implications: Rates: Long JGBs remain vulnerable to renewed fiscal expansion signals; curve steepening risk persists. FX: JPY could react to any post-vote policy clarity and risk sentiment. Equities: Domestic cyclicals, banks and construction may move on fiscal tone; defensives on cost-of-living narratives. Thailand (Sun): A fragmented landscape and minority rule have kept uncertainty elevated. Market implications: THB and local bonds will respond to fiscal priorities, investment incentives and external trade positioning. Sectors to watch: banks (credit growth/margins), tourism/leisure (policy support), exporters (tariff and FX sensitivity). Macro data to watch Global PMIs (Mon/Wed/Thu): Manufacturing and services readings across the US, euro area, UK, Japan, China and others will refine the soft-landing debate and pricing power trends. Euro area flash HICP (Wed): A crucial input for the ECB’s inflation narrative; components (core, services) will matter for timing of any future pivot. UK housing (Mon/Fri): Nationwide and Halifax house price updates provide a read on mortgage affordability and consumer confidence. US labor market (Fri): January nonfarm payrolls, unemployment rate and wage growth will steer expectations for the Fed’s path and real yields. Japan: Summary of opinions (Mon) from the latest policy meeting may offer clues on the normalization roadmap. Earnings spotlight Tech and internet: Alphabet (Wed): Cloud margins, advertising momentum and AI monetization road map. Amazon (Thu): Retail margins, AWS growth and AI infrastructure spend; headcount and cost discipline under the microscope. AMD (Tue), Qualcomm (Wed), Arm (Wed): AI PC/server silicon demand, guidance quality, and supply chain visibility. Snap (Wed), Uber (Wed): Ad mix and engagement (Snap); profitability cadence and mobility/delivery trends (Uber). Pharma/biotech: Pfizer (Tue), Merck (Tue), Eli Lilly (Wed), Novo Nordisk (Wed), AbbVie (Wed): GLP-1 demand and capacity, pricing, pipeline milestones and 2026 top-line bridges. Energy and industrials: Shell (Thu), ConocoPhillips (Thu), Phillips 66 (Wed): Capital return frameworks versus capex; refining margins; LNG updates. Maersk (Thu), Anglo American (Thu), ArcelorMittal (Thu), VINCI (Thu): Freight rates and deglobalization effects; mining guidance; infra backlogs and pricing. Consumer and payments: PepsiCo (Tue), Mondelez (Tue), Chipotle (Tue), O’Reilly (Thu): Volume versus pricing, elasticity and input costs. PayPal (Tue): Take rate trends, cost saves, product roadmap. Autos and Japan Inc: Toyota (Fri), Sony (Thu), Nintendo (Tue), Panasonic (Wed), Mitsubishi Electric (Tue), Suzuki (Thu), KDDI (Fri): FX sensitivities, EV pipelines, gaming cycle, image sensors, and capital allocation. Sectors and themes AI and semis: Watch capex guidance across hyperscalers and chipmakers; supply constraints versus demand exuberance. Healthcare: Obesity-drug capacity, payer dynamics and long-term margin mix. Energy: Discipline remains the mantra; geopolitics and OPEC compliance frame near-term price action. Banks: UK and eurozone banks may react to rate path guidance and loan growth signals; capital returns remain a support. Travel and aerospace: Singapore Airshow headlines drones, fighters and commercial backlogs; Olympics buzz adds a modest lift to European travel/leisure sentiment. Day-by-day calendar (selected) Monday, 2 Feb Data: Global manufacturing PMIs; UK Nationwide house prices; Japan BoJ summary of opinions. Earnings: Central Japan Railway; East/West Japan Railway; TDK; Disney; Tyson Foods; Julius Baer; IDEXX; Revvity. Corporate: AstraZeneca shares begin trading on the NYSE. Tuesday, 3 Feb Policy/Data: Australia rate decision; Euro area Bank Lending Survey; US JOLTS openings. Earnings: AMD, Alphabet (see Wed), PayPal, PepsiCo, Pfizer, Merck, Amgen, Mondelez, Chipotle, Electronic Arts, Jacobs, Willis Towers Watson, Prudential Financial, LATAM Airlines, Nintendo, Mitsubishi Electric, Teradyne, Skyworks, Take-Two, Publicis, ADM, Enphase, Ametek, Emerson, Hubbell, Grainger, Ball Corp, Clorox, Kinnevik, LBG Media, Match, Prudential Financial, West Japan Railway. Wednesday, 4 Feb Events: FT energy policy summit (Brussels/online). Singapore Airshow continues. Data: Global services PMIs; Euro area flash HICP; UK international reserves. Earnings: Alphabet, Arm, GSK, Novartis, Novo Nordisk, Eli Lilly, AbbVie, UBS, Santander, Handelsbanken, Equinor, Phillips 66, Johnson Controls, MediaTek, Panasonic, Rohm, Infineon, Boston Scientific, McKesson, Qualcomm, Uber, Snap, T Rowe Price, Watches of Switzerland, SSE. Thursday, 5 Feb Policy: ECB rate decision; BoE rate decision; Germany factory

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January 30 – Daily Market Update

Leave a Comment / Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

30 January 2026 – Daily Market Updates Markets Daily: Risk-off tone as dollar firms, futures dip, commodities retreat Overview Global markets are starting the day on the back foot. A stronger US dollar and a reset in interest-rate expectations are pressuring risk assets, with equity futures softer, metals giving back gains, and crypto trading lower. Investors are weighing policy signals, ongoing fiscal negotiations in Washington, and a busy stretch of earnings. Market snapshot (as of 06:00 a.m. ET; levels subject to change) S&P 500 futures: -0.74% Hang Seng Index: 27387.1 (-2.08%) Bitcoin: 82667.37 (-2.02%) Spot gold: 5111.4 (-4.79%) Macro and policy Rates and the dollar: The greenback’s advance reflects a market leaning toward fewer or shallower rate cuts than previously assumed. Higher real yields and a firmer dollar are tightening financial conditions at the margin and weighing on rate‑sensitive segments. Washington watch: Lawmakers appear close to a short-term funding arrangement to avoid a prolonged government shutdown. Timing remains tight, so a brief disruption can’t be ruled out, but the base case is for a temporary extension. Global growth signals: Recent data show the euro area holding up a touch better than feared into year‑end despite trade frictions. In Asia, growth-sensitive assets remain choppy as investors assess China demand and policy support. Equities Futures and sectors: US equity futures are lower, with a defensive bias evident after a volatile week for large-cap tech and cyclicals. Higher discount rates continue to pressure parts of the growth complex. Earnings pulse: The season remains in focus with results across energy, telecoms, financials, consumer staples, and payments. Guidance on pricing power, capex (especially AI- and infrastructure-related), and inventory normalization remains the key swing factor for multiples. Single‑stock themes: Hardware and select apparel names have outperformed on stronger revenue and upgraded outlooks, while precious‑metals miners are under pressure alongside bullion. Mega-cap tech remains volatile as investors balance heavy investment plans with near‑term growth trajectories. Asia/Europe: Hong Kong equities lagged on risk aversion and commodity softness. In Europe, pockets of consumer discretionary strength contrast with weakness in materials. Commodities and crypto Metals: After an exceptional run earlier in the week, industrial metals have cooled as USD strength and profit taking set in. Copper has retreated from record territory, while precious metals are consolidating on higher real yields. Energy: Crude is range‑bound as supply headlines offset demand concerns. The stronger dollar is a modest headwind for commodities broadly. Digital assets: Bitcoin is lower, underperforming metals amid a rotation into hard‑asset exposures tied to real‑economy demand. Correlations to macro factors remain fluid, with dollar strength and rates repricing exerting near‑term pressure. Fixed income and FX Bonds: Treasury yields are edging up as markets reprice the policy path. Curves remain sensitive to any shift in perceived central‑bank reaction functions and incoming inflation data. Currencies: The dollar’s bid is broad‑based, pressuring Asia and commodity‑linked FX. Cross-asset volatility may remain elevated while policy and growth narratives recalibrate. What we’re watching Policy signals: Any updates on central‑bank leadership and guidance that could shift the expected cadence of rate cuts. Fiscal timeline: Progress on temporary US government funding to limit shutdown risk. Data lineup: Upcoming reads on labor markets, consumer spending, and inflation that could validate or challenge the current rates repricing. Earnings: Management commentary on demand elasticity, cost discipline, and capex plans, with an eye on AI and supply‑chain investment. Portfolio considerations Reassess duration and rate sensitivity given firmer real yields. Review USD exposure and hedging as the currency bid broadens. Expect continued factor rotation; balance defensives with quality cyclicals tied to resilient end‑markets. Use elevated single‑name dispersion around earnings to be selective on entries and exits. Note: This communication is for information purposes only and does not constitute investment advice or a recommendation to buy or sell any security or asset. Market data are indicative and subject to change. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. January 30 – Daily Market Update January 30, 2026 30 January 2026 – Daily Market Updates Markets Daily: Risk-off… Read More January 29 – Daily Market Update January 29, 2026 29 January 2026- Daily Market Updates Quick take Metals rally… Read More January 28 – Daily Market Update January 28, 2026 28 January 2026 Daily Market Updates Markets Daily: Global Risk… Read More January 27 – Daily Market Update January 27, 2026 27 january 2026 – Daily Market Updates Market overview Equities:… Read More January 26 – Daily Market Update January 26, 2026 26 January 2026 – Daily Market Updates Markets Daily –… Read More January 23 – Daily Market Update January 23, 2026 23 January 2026 – Daily Market Updates Markets Daily |… Read More January 22 – Daily Market Update January 22, 2026 22 January 2026 – Daily Market Updates Market snapshot (as… Read More January 21 – Daily Market Update January 21, 2026 21 january 2026 – Daily Market Updates

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Weekly Global Market News – february Week 3

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Weekly Global Market News – february Week 1

January 30 – Daily Market Update

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