Market Summary - February 10, 2026
Global Market Overview
The global stock markets have continued their upward trajectory, with the MSCI All Country World Index rising approximately 0.2% to reach a new record high. Asian markets showed a robust performance, increasing by about 1.3% and approaching all-time highs. In contrast, US and European equity-index futures remained flat, while the S&P 500 closed the previous session near local highs. Despite the elevated levels of US equities, market sentiment appears cautious.
Sector Performance
Technology stocks in the US have rebounded, alleviating concerns regarding potential overheating in AI spending. Notable performers in Asia included tech giants like SoftBank, which has investments in OpenAI, and Oracle. This shift indicates a renewed risk appetite among investors.
US Economic Data
Traders are closely monitoring upcoming US economic data that could influence the Federal Reserve's interest rate decisions. Key reports include:
- NFIB Small Business Optimism report at 10:30 AM GMT
- ADP employment change at 12:15 PM GMT
- US retail sales, export, and import prices at 12:30 PM GMT
- USDA WASDE report for agricultural supply and demand estimates at 3 PM GMT
Foreign Exchange Market
The Chinese yuan has strengthened to its highest level since May 2023, following reports that China is encouraging banks to reduce their exposure to US Treasuries. Meanwhile, the US dollar index (DXY) is consolidating with no clear direction.
Commodities
Gold prices have seen a pullback after two sessions of gains, attributed to profit-taking in a volatile market. This trend is also reflected in silver, platinum, and palladium prices.
Japanese Yen Movement
The Japanese yen has modestly strengthened following Prime Minister Takaichi's election victory, gaining around 0.4% but still trading near 155 per dollar. The sustainability of this trend remains uncertain.
Cryptocurrency Market
Bitcoin has dipped below $70,000, struggling to regain that level amid a more cautious market sentiment. Ethereum is trading near $2,000. Following recent price adjustments, crypto entities BitMine Immersion and Strategy have acquired approximately $80 million worth of ETH and BTC, respectively.
Political and Economic Commentary
Speculation surrounds a potential summit between Trump and Xi in early April, although the White House has not confirmed these reports. Fed officials have commented on the implications of tariffs on interest rates, suggesting they may allow for future rate reductions, while also emphasizing caution in light of recent weak labor market data.
Technical Analysis - Nasdaq 100 Futures
The Nasdaq 100 futures (US100) have not yet reached the hourly trendline, with the 25,550 level acting as a significant resistance zone, reinforced by the 61.8% Fibonacci retracement. Conversely, the 38.2% Fibonacci retracement around 25,000 is identified as a key support level.