Markets & Headlines - 2/5/25

Markets

ISM Services PMI fell to 52.8 from 54.0, bringing yields lowers and weakening the dollar. 5% rebound in $NVDA mitigates losses in $AMZN, $GOOG, $TSLA, flatlining the index. More earnings got released. China came back from New Years.

Headlines

• US Postal Service Reverses Decision to Halt China Shipments

USPS will accept all inbound parcel from China. US government is working out a way to tax parcels under $800.

• Exit Polls Predict Modi Winning India’s Capital After Decades

Modi’s party BJP lost majority vote last year, but may win majority in the Delhi assembly.

• Trump’s Gaza Takeover Gets Israeli Approval, Global Scorn

• Ford Sees Sharp Profit Drop as Trump Tariff, EV Threats Loom

“25% tariffs on Mexico and Canada would have a major impact”

• Xi Has Squandered His Most Powerful Trade War Weapon

“In a global trade war, the economy with a powerful consumer base wins.” - the Americans.

• Stock market today: S&P 500 ends higher on falling Treasury yields, jump in Nvidia

Apple cut losses to flatline at close after news of China probe.

• Qualcomm results, forecast top expectations as AI drives smartphone sales

• UnitedHealth raises concerns over Bill Ackman’s post on X with SEC

UnitedHealth fell 1.5% after the post.

• Google scraps diversity-based hiring targets, WSJ reports

• With US House stymied, Senate Republicans prepare to move on Trump agenda

• Gold prices remain near fresh record highs on trade war fears, Gaza uncertainty

• Gold demand hits record levels as central banks buy at ’eye-watering’ pace

Climbed above $2,900

• Google opens its most powerful AI models to everyone, the next stage in its virtual agent push

Gemini2.0

• AMD shares drop more than 6%, close at lowest since 2023 on disappointing data center revenue

• Argentina to withdraw from WHO after Trump exit, citing ‘deep differences’

The US left WHO last month