Market Signal Briefing

Goldman Sachs has been working with the artificial intelligence startup Anthropic to create AI agents to automate a growing number of roles within the bank, the firm's tech chief told CNBC exclusively.

The bank has, for the past six months, been working with embedded Anthropic engineers to co-develop autonomous agents in at least two specific areas: accounting for trades and transactions, and client vetting and onboarding, according to Marco Argenti, Goldman's chief information officer.

The firm is "in the early stages" of developing agents based on Anthropic's Claude model that will collapse the amount of time these essential functions take, Argenti said. He expects to launch the agents "soon," though he declined to provide a specific date.

"Think of it as a digital co-worker for many of the professions within the firm that are scaled, are complex and very process intensive," he said.

Goldman Sachs CEO David Solomon said in October that his bank was embarking on a multi-year plan to reorganize itself around generative AI, the technology that has made waves since the arrival of OpenAI's ChatGPT in late 2022. Even as investment banks like Goldman are experiencing surging revenue from trading and advisory activities, the bank will seek to "constrain headcount growth" amid the overhaul, Solomon said.

The news from Goldman, a leading global investment bank, comes as model updates from Anthropic, co-founded by a former OpenAI executive, have sparked a sharp selloff among software firms and their credit providers as investors wager on who the winners and losers from the AI trade will be.

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Goldman began last year by testing an autonomous AI coder called Devin, which is now broadly available to the bank's engineers. But it quickly found that Anthropic's AI model could work in other parts of the bank, said Argenti. 

"Claude is really good at coding," Argenti said. "Is that because coding is kind of special, or is it about the model's ability to reason through complex problems, step by step, applying logic?"

Argenti said the firm was "surprised" at how capable Claude was at tasks besides coding, especially in areas like accounting and compliance that combine the need to parse large amounts of data and documents while applying rules and judgment, he said.

Now, the view within Goldman is that "there are these other areas of the firm where we could expect the same level of automation and the same level of results that we're seeing on the coding side," he said.

The upshot is that, with the help of the agents in development, clients will be onboarded faster and issues with trade reconciliation or other accounting matters will be solved faster, Argenti said.

Goldman could next develop agents for tasks like employee surveillance or making investment banking pitchbooks, he said. 

While the bank employs thousands of people in the compliance and accounting functions where AI agents will soon operate, Argenti said that it was "premature" to expect that the technology will lead to job losses for those workers.

Still, Goldman could cut out third-party providers it uses today as AI technology matures, he said.

"It's always a tradeoff," Argenti said. "Our philosophy right now is that we're injecting capacity, which in most cases will allow us to do things faster, which translates to a better client experience and more business."

Packages travel on a conveyor at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. REUTERS/Mike Segar Purchase Licensing Rights, opens new tab

Feb 6 (Reuters) - Amazon (AMZN.O), opens new tab shares dropped 8% in premarket trading on Friday after the company's hefty capital expenditure plans deepened investor worries over Big Tech's spending spree on artificial intelligence.

Massive AI spending by companies - estimated to be more than $600 billion this year - have raised doubts among investors over the prospects of immediate returns from the huge capital outlays.

The Week in Breakingviews newsletter offers insights and ideas from Reuters' global financial commentary team. Sign up here.

They also fear that rapidly improving AI tools could eat into demand for traditional software, squeezing profit margins, resulting in a broader selloff across the tech sector.

Amazon's capex spending plans are expected to reach $200 billion in 2026. Alphabet (GOOGL.O), opens new tab said its capex could double from a year ago, while Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab has ramped up their spending plans.

"While the rising capital intensity is not a surprise directionally, the magnitude of the spend is materially greater than consensus expected," MoffettNathanson analysts said in a note.

In contrast to Alphabet's confident tone on its spending plans, Amazon CEO Andy Jassy struck a defensive note during the post-earnings investor call.

"As a reminder," said Jassy, referring to the results of cloud platform Amazon Web Services, "it's very different having 24% year-over-year growth on $142 billion annualized run rate, than to have a higher-percentage growth on a meaningfully smaller base, which is the case with our competitors."

AWS revenue grew to $35.6 billion in the December quarter, while Google (GOOGL.O), opens new tab Cloud grew 48% to $17.75 billion. Microsoft's (MSFT.O), opens new tab Azure surged 39% in the same period.

"We do not think they would be spending $200B in FY26 if they did not have the appropriate demand signals, but the margin of error is shrinking," MoffettNathanson analysts said.

At least five brokerages have reduced their price targets on the stock following results. Amazon trades at a price-to-earnings ratio of 27.01, compared with Microsoft's 21.62 and Alphabet's 28.36.

Tech giants collectively expected to spend at least $630 billion this year on AIReporting by Kanchana Chakravarty in Bengaluru

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The river cruise leader has some big competition from an industry giant.

Royal Caribbean (RCL 0.78%) is set to launch a river cruise business through its upscale Celebrity brand, and demand has been so strong that the cruise line doubled its expected fleet size from 10 ships to 20. Should longtime river cruise leader Viking (VIK 2.93%) and its investors be worried?

*Stock prices used were the morning prices of Feb. 3, 2026. The video was published on Feb.4, 2026.

Matt Frankel, CFP has no position in any of the stocks mentioned. Rick Munarriz has positions in Royal Caribbean Cruises and Viking. The Motley Fool recommends Viking. The Motley Fool has a disclosure policy.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of APA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

HomeIndustriesShare prices of Glencore and Rio stumble after disappointmentPublished: Feb. 6, 2026 at 5:32 a.m. ET

A merger between Glencore and Rio Tinto would have created the world's largest mining company. Photo: Getty ImagesThe decision by Rio Tinto and Glencore to abandon merger talks now has analysts divided on the companies’ prospects in what JPMorgan has called “the age of critical minerals.”

Talks between Rio Tinto and Glencore to create the world’s largest mining company were abandoned after they couldn’t reach a deal by a Feb. 5 deadline set by a U.K. regulator. The two sides were unable to agree on valuations with Glencore’s statement alleging Rio’s offer  wasn’t in the best terms of its shareholders and failed to reflect its long-term value.

U.S. stock futures advanced on Friday following Thursday's sharp sell-off. Futures of major benchmark indices were higher.

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 6

Washington Trust Bancorp, Inc. (WASH - Free Report) : This bank holding company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.

Washington Trust Bancorp has a PEG ratio of 0.76 comparedwith 1.84 for the industry. The company possesses a Growth Scoreof B.

Ciena Corporation (CIEN - Free Report) : This critical digital infrastructure technologies company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.2% over the last 60 days.

Ciena has a PEG ratio of 1.15 compared with 5.61 for the industry. The company possesses a Growth Score of A.

MKS Inc. (MKSI - Free Report) : This semiconductor technology solutions company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.6% over the last 60 days.

MKS's General Stores has a PEG ratio of 1.53 compared with 2.21 for the industry. The company possesses a Growth Score of B.

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of VET either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Alphabet's modest sell-off after its Q4 update presents a great buying opportunity.

Picky, picky. That's my take on investors selling Alphabet (GOOG 0.60%) (GOOGL 0.20%) stock after the company reported stellar fourth-quarter results on Wednesday, Feb. 4, 2026.

The good news about the Google parent's surging revenue and profits was overshadowed by its higher projected spending on artificial intelligence (AI). Alphabet's share price fell moderately on Thursday amid concerns about higher capital expenditures.

Is the selling warranted? I don't think so. Here are five reasons to buy this AI stock on the dip.

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1. AI investments are already delivering returns Anyone wondering whether Alphabet's AI investments are paying off need only look at the company's Q4 numbers. CFO Anat Ashkenazi stated in the earnings call, "The investments we have been making in AI are already translating into strong performance across the business as you've seen in our financial results." Yes, they are.

While Alphabet plans to spend even more on AI this year ($175 billion to $185 billion), I expect the additional investment will also deliver solid returns. It's essential to keep in mind where the money is going, including supporting cutting-edge research by Google DeepMind, improving the user experience to boost advertisers' return on investment, and meeting soaring demand for cloud services. It would be a mistake if management weren't investing more in these areas.

2. Google Cloud is booming Speaking of soaring demand for cloud services, Alphabet's Google Cloud business is booming. Revenue for the unit skyrocketed by 48% year over year in the fourth quarter to $17.7 billion. Google Cloud ended 2025 with an annual revenue run rate of $70 billion.

Is Google Cloud's growth in jeopardy of slowing anytime soon? I don't think so. Alphabet reported a cloud backlog of $240 billion at the end of the year, more than double the level from the end of 2024 and up 55% from the end of the third quarter of 2025.

The business is also more profitable than ever. Google Cloud's operating margin jumped from 17.5% in 2024 Q4 to 30.1% in the recent quarter.

3. Google Search growth is poised to accelerate Some doomsayers proclaimed that generative AI would be an existential threat to Google Search after OpenAI launched ChatGPT in late 2022. Those predictions have fallen flat on their face, to put it mildly.

Image source: Getty Images.

Google Search's revenue increased 16.7% year over year in Q4 to $63.1 billion. Alphabet CEO Sundar Pichai said in the quarterly update this week that Google Search usage in Q4 was higher than ever. I suspect that Google Search's growth is even poised to accelerate as, in Pichai's words, "AI continues to drive an expansionary moment."

4. Alphabet's financials are outstanding It takes money to make money. And Alphabet has a lot of money. The company ended 2025 with a cash position of $126.8 billion. Its annual revenue topped $400 billion for the first time last year.

Increasing AI capital expenditures won't cramp Alphabet's style, either. The tech giant generated $24.6 billion of free cash flow in the fourth quarter alone. Alphabet can afford additional AI-related spending.

5. Two growth opportunities ahead Google Cloud and Google Search remain the most important growth drivers for Alphabet. However, I think investors should keep an eye on two other growth opportunities.

First, Apple (AAPL 0.11%) is using Google's Gemini to develop its next-generation foundation AI models. Its next version of the Siri AI assistant will integrate with Gemini. Neither Apple nor Alphabet have revealed the financial terms of their collaboration. However, I expect the partnership with Apple will significantly boost Alphabet's revenue going forward.

Second, Alphabet owns several businesses known as its "Other Bets." Self-driving car technology company Waymo is the most promising member of the group right now. The robotaxi market has tremendous potential -- and Waymo is the leader in this market.

PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings (“Eight”) and Maravilla Oil & Gas.

Upon completion of the transaction, TotalEnergies will be the operator of the license holding a 42.5% interest alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).

Located in the Lüderitz basin, PEL104 license covers an area of around 11,000 km2 offshore Namibia.

“After the acquisition in December of a 40% operated interest in PEL83 license, TotalEnergies further strengthens its position in Namibia by entering this new exploration license as operator. While progressing towards the development of Venus and Mopane discoveries, we are very pleased to expand our portfolio and continue exploring the prolific resources of Namibia, in order to unlock further value that will benefit the country and all stakeholders”, stated Nicolas Terraz, President Exploration & Production at TotalEnergies.

Completion of the transaction is subject to customary third party approvals from the Namibian authorities and joint ventures partners.

***

About TotalEnergies in Namibia
TotalEnergies has been present in Namibia since 1964 and employs 55 people. TotalEnergies is also the 4th largest fuel distributor in the country, with 43 service stations. In line with its multi-energy strategy, the Company is looking for local opportunities to develop low carbon projects in the country.

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

@TotalEnergies TotalEnergies TotalEnergies TotalEnergies

Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

D-Wave shareholders are betting on a company that has very little sales and that operates in an unproven market.

It's hard to ignore the long list of quantum computing stocks that have been on a tear over the past few years. One company that's benefited from all of the quantum computing hype -- because a lot of it is hype -- is D-Wave Quantum (QBTS 14.45%).

D-Wave's returns of 1,600% over the past three years are hard to ignore. But I think the recent gains are masking a significant risk for investors. Here's why.

Image source: Getty Images.

Significant quantum computing sales are years away When a company's share price is rocketing so high and so fast, some investors don't want to look at the hard truths about the company or the market it's competing in. In this case, the risk many people are ignoring is the fact that D-Wave generates hardly any revenue, and it could be years before quantum computing companies see any meaningful sales.

D-Wave recently reported its third-quarter results, and the company had just $3.7 million in sales. That's obviously a very small amount, but it looks even worse when we put it into the context of D-Wave's net loss of $140 million under generally accepted accounting principles (GAAP). This means that the gap between D-Wave's revenue and losses is very significant, and it could be years before it comes close to closing it.

While there are plenty of optimistic investors who believe that quantum computing sales will catch up with spending soon, I'm not so sure. Even big tech players like Alphabet -- which has developed its own quantum computing processor and made breakthroughs in quantum algorithms -- believe that significant commercial sales are still five to 10 years away. And management at Rigetti Computing has said that the company won't have commercial sales for three to five years.

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Making matters worse for D-Wave -- and its shareholders -- is the fact that quantum computing requires significant investments in technology and research that don't come cheap. The result of this pushed D-Wave's operating expenses up 40% in the third quarter to $30.4 million. While the company does have $836 million in cash reserves to continue funding research and keep the lights on, the ramp-up in spending means that this pile of cash may not be as large as it seems right now.

D-Wave's expensive stock doesn't help, either D-Wave's costs are rising quickly, it has significant losses, it has minimal sales, and the quantum computing market likely still has several more years to go before significant commercial sales materialize.

All this should be enough for investors to realize that D-Wave's stock is very risky. But if you need a little more convincing, consider that its massive share price returns mean that its stock now has a price-to-sales (P/S) ratio of 280 -- compared to the tech sector's average P/S ratio of just 9. That's risky indeed.

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

Ford is re-jigging its EV manufacturing plan. CEO Jim Farley said the adjustment will help compete with upstart Chinese brands. Paolo Pedicelli ATPImages/Getty Images 2026-02-06T09:00:01.215Z

CEO Jim Farley posted four new photos inside the automaker's rejigged Louisville assembly plant. Two of the photos offer a rare glimpse at prototypes for its upcoming $30,000 EV pickup. The changes come as Chinese manufacturers become increasingly dominant on the world stage, especially with EVs. Ford is undergoing a radical factory overhaul to compete with Chinese automakers. Its CEO just offered a peek inside.

On Thursday, Ford CEO Jim Farley shared four behind-the-scenes photos on X of engineers working on the automaker's Universal Electric Vehicle project. It's a new platform and manufacturing system designed to underpin a family of smaller, lower-cost EVs.

Farley described the effort as "one of the most audacious and important projects in Ford's history."

"American innovation is how we compete and win against China and the rest of the world," Farley wrote in the post.

The update adds new detail to Ford's sweeping rethink of how it designs and assembles electric vehicles, as Chinese EV makers — led by BYD, now the world's largest EV seller — rapidly expand in foreign countries with lower-priced models.

An early peek at our brilliant team working on the Universal Electric Vehicle project - one of the most audacious and important projects in @Ford's history. American innovation is how we compete and win against China and the rest of the world.

➡️ The team is spending countless… pic.twitter.com/Un4eCe258L

— Jim Farley (@jimfarley98) February 5, 2026 Farley's photos focus on the first vehicle expected to launch on the platform: a midsize electric pickup truck starting at $30,000. They show Ford employees working on vehicle prototypes — and reveal an early look at what appears to be its grille-less design.

The company confirmed to Business Insider that it plans to launch the vehicle in the US in 2027.

"A Ford team member working on the front end of a prototype - one of the hundreds of prototypes the team has designed and developed to shape the face of the truck over the last few years," Farley wrote about one of the images.

Engineers are spending "countless hours" refining the truck's aerodynamics, Farley said.

A massive manufacturing re-thinkThe manufacturing changes behind the vehicle may be even more significant than the design itself. Farley unveiled the new manufacturing plan during an August event dubbed the "Latest Model T Moment."

Unlike the traditional assembly line — a single, linear conveyor made famous by Ford's 1908 launch of its first mass-produced car, the Model T — the new system uses a three-pronged "assembly tree" approach. Separate lines build the front, rear, and battery underbody of the vehicle in parallel before they are joined later in the process.

Ford says the redesigned system uses 25% fewer fasteners and roughly half as many cooling hoses and connections.

Other images from Farley's post show the factory's new unicasting system — which Farley says reduces the number of vehicle parts — and engineers working on new designs.

Fewer parts could mean lower car prices, the company said in August.

Responding to billion-dollar pressuresThe push comes as Ford makes costly changes to its EV strategy. In December, the company discontinued the F-150 Lightning pickup and scrapped plans for a large all-electric commercial van, recording a $19.5 billion write-down tied to canceled EV programs.

Going forward, Ford plans to focus on smaller, more affordable electric vehicles, as well as extended-range electric vehicles, or EREVs, which pair electric drivetrains with onboard gas generators.

The strategy reflects mounting pressure from China's EV industry. BYD overtook Tesla last year to become the world's top EV seller. Chinese EV sales have been gaining momentum across Europe — and last month, Canadian officials announced plans to lower tariffs on Chinese-made cars.

That momentum could prompt further changes at Ford. Earlier this week, Reuters reported that Ford is in advanced talks with China's Geely about potential manufacturing cooperation.

Align Technology president and CEO Joseph Hogan breaks down a strong earnings beat, driven by rising Invisalign demand among teenagers and accelerating growth in international markets on ‘The Claman Countdown.' #fox #media #breakingnews #us #usa #new #news #breaking #foxbusiness #theclamancountdown #stocks #stockmarket #economy #markets #investing #wallstreet #finance #business #earnings #invisalign #health #globalpolitics

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

A trio of low-cost exchange-traded funds (ETFs) account for three of the 10 most-held securities by Robinhood's retail investors.

Roughly three decades ago, the internet revolution changed corporate America forever by opening sales and marketing channels that hadn't previously existed. But the birth of the internet also kick-started the retail investor revolution.

The proliferation of online trading platforms broke down century-old information barriers between Wall Street and Main Street. Retail investors now had access to breaking news, financial statements, balance sheets, management commentary, and investor presentations with the click of a button.

Unsurprisingly, retail investors have played an increasingly larger role in the stock market. According to "The Retail Investor Report," everyday investors comprised approximately 25% of total equities trading volume in 2021, up roughly double from where things stood in the previous decade -- and online brokers have taken notice.

Image source: Getty Images.

Few online brokers have done a better job of courting retail investors than Robinhood Markets. Robinhood offers investors commission-free common stock trades on major U.S. exchanges and the ability to purchase fractional shares.

But perhaps the most intriguing aspect of Robinhood's platform is its "100 Most Popular" leaderboard, which lists, in order, the stocks and exchange-traded funds (ETFs) that are most widely held by its customers.

While you'll find plenty of brand-name companies on this list, such as No. 1 holding Nvidia, you might be surprised to learn that three ETFs are more widely held by Robinhood's retail investors than "Magnificent Seven" stocks Alphabet and Meta Platforms, as well as highfliers Palantir Technologies and Netflix.

No. 1 and No. 2: Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust The stock market doesn't offer investors any guarantees. However, the closest thing you'll get to a guaranteed positive return is buying and holding an S&P 500 (^GSPC 1.23%) tracking index over the long run. As of this writing on Feb. 1, the Vanguard S&P 500 ETF (VOO 1.24%) and SPDR S&P 500 ETF Trust (SPY 1.23%) were the fifth- and ninth-most-held securities on Robinhood, respectively. I'm discussing them together because they both aim to mirror the return of Wall Street's benchmark index, minus fees.

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Every year, analysts at Crestmont Research update a published data set that calculates the rolling 20-year total returns, including dividends, of the benchmark S&P 500, dating back to the beginning of the 20th century. Based on the latest update, Crestmont has tabulated the total returns of 107 rolling 20-year periods (1900-1919, 1901-1920, and so on, to 2006-2025).

What Crestmont Research found was that all 107 rolling 20-year periods produced a positive annualized return. Hypothetically (since S&P 500 tracking ETFs didn't exist before 1993), if an investor had purchased an index fund that tracks the performance of the S&P 500 and held it for 20 years, they would have made money every time. This statement holds true through pandemics, wars, depressions, recessions, bear markets, and stock market crashes.

Furthermore, since the S&P 500 is comprised of 500 of the largest and most time-tested public companies, it's an index we'd expect to rise over extended periods. This makes both the Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust good bets to head higher.

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While both of these ETFs serve the same purpose and have done a good job of mirroring the S&P 500's total return, there is one critical difference: their net expense ratios. This is the annual fee investors pay that covers a fund's management and marketing expenses.

The SPDR S&P 500 ETF Trust has a net expense ratio of 0.0945%, which is below the average expense ratio of 0.15% for equity index ETFs. This means just shy of $0.95 will go toward fees for every $1,000 invested.

Comparatively, the Vanguard S&P 500 ETF has a microscopic net expense ratio of 0.03%. This six-basis-point and change difference won't amount to much if you're only investing a few thousand dollars or plan to hold for a couple of years. But a seven-figure investment held over several decades can yield significant savings for investors who choose the Vanguard S&P 500 ETF.

Image source: Getty Images.

No. 3: Vanguard Total Bond Market ETF Whereas Meta Platforms, Alphabet, Netflix, and Palantir Technologies fall between the 11th- and 21st-most-held securities by retail investors on Robinhood, the 10th-most-held security is the Vanguard Total Bond Market ETF (BND +0.43%).

The Vanguard Total Bond Market ETF aims to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. This is an income-focused ETF that purchases U.S. Treasury bonds of varying lengths, along with corporate bonds, asset-backed securities, and mortgage-backed securities. The important aspect being that this fund focuses on investment-grade bonds that, as of the end of 2025, had an average duration to maturity of 5.7 years.

As of the end of 2025, it held over 11,400 bonds and was yielding more than 4%. This compares to its net expense ratio of just 0.03%, which is well below the average expense ratio of 0.54% for similar funds.

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The reason the Vanguard Total Bond Market ETF has wiggled its way into the top 10 holdings on Robinhood likely has to do with stock valuations.

According to the S&P 500's Shiller Price-to-Earnings (P/E) Ratio, the stock market entered 2026 at its second-priciest valuation in history, dating back 155 years. Whereas the Shiller P/E Ratio has averaged 17.3 since January 1871, it vacillated in the low 40s throughout January.

Retail investors piling into the Vanguard Total Bond Market ETF suggest there are clear concerns about lofty stock valuations. Prior instances of the Shiller P/E being above 30 haven't gone well for investors. Thus, the Vanguard Total Bond Market ETF serves as something of a safe-haven income investment for those worried about a stock market correction, bear market, or potential crash event.

Artificial intelligence is not a bubble, and 2026 AI-related order growth will be more than last year, Simon Lin, the chairman of Taiwanese electronics manufacturer Wistron , said on Friday.

The reduction signals further caution as concerns that global supply will outstrip demand continue to weigh on markets.

HomeMarketsPublished: Feb. 6, 2026 at 4:25 a.m. ET

Novo Nordisk shares rose on Friday after a troublesome week Photo: sergei gapon/Agence France-Presse/Getty ImagesNovo Nordisk shares rallied on Friday in what’s still been a painful week as the Food and Drug Administration may weigh in on the side of the Danish drugmaker in its dispute over a copycat drug.

Novo Nordisk stock DK:NOVO.B NVO gained 5%, but is still down 21% this week on concerns over profitability, after the head of the FDA suggested the agency might not let Hims and Hers sell the cheaper, compounded version of the new Wegovy pill that it announced on Thursday.

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Cardano price hovered below $0.26 on Friday after posting consecutive red candlesticks throughout the week. Following a sharp 20% drop, ADA continued its correction, trading at $0.25685 in the past 24 hours.  Investors are now awaiting the potential impact of CME ADA Futures set to launch on February 9.

This is down because the larger crypto market is experiencing a pullback; its drop is 5.2% and now stands at 2.28 trillion. The recent decline of BTC price below $65,000 was accompanied by bear market panic, which impacted major currencies, including Ethereum, SOL, and XRP. 

Trading volume grew by 123% to $1.42 billion, indicating that the market is liquid and traders are selling off. This downward trend has drawn the Cardano price to levels that it has not witnessed since October of 2023.

Cardano Futures Set to Launch on CME on Feb 9 Cardano futures will officially be launched on the CME derivatives exchange on February 9, 2026, and will add to the crypto offerings of the exchange. Standard and micro Cardano futures contracts will also be introduced by CME that will serve the needs of different types of institutional traders.

The standard contract will reflect 100,000 ADA and will give large traders a wider exposure to the price movements of Cardano. Conversely, the micro contract will entail 10,000 ADA per contract, reducing the amount of capital to participate, but still, full regulatory control is ensured.

Besides Cardano, futures of Stellar and Chainlink will also be introduced on the same day, providing an institutional trader with a broader range of digital assets. These new futures products shall be on the CME CF New York Variant Index to provide transparent pricing, which will bring the traders certainty about the accuracy of the market.

Get ready for the launch of Cardano, Chainlink and Stellar futures in less than one week. 🚀

Add greater versatility and product choice to your portfolio with our expanded Crypto suite. ➡️https://t.co/EjzNG3MMUR pic.twitter.com/Rq6ON6ELqX

— CME Group (@CMEGroup) February 4, 2026

These crypto futures add further to the presence of CME in the expanding digital world. This initiative offers greater hedging or speculation options to institutional traders of cryptocurrencies. This may have the potential to spike demand and lead to an upswing in Cardano price, given overall market circumstances.

The ADA long-to-short ratio fell to 0.90, which is a negative indicator, since many traders expect the price to decrease further. This ratio that is less than one, indicates a negative market sentiment.

Also, the open interest (OI) of futures in Cardano fell to the lowest since early November 2024, dropping to $90 million, a gradual decline since the middle of January.

Will Cardano Price Hold Steady at $0.25? As of the reporting, the ADA price decreased to $0.2523. This drop follows a period of fluctuation in Cardano’s market performance.

In the past few days, the ADA was on a negative trend, and it hit lows surrounding the support zone of $0.25.

The Relative Strength Index (RSI) is 28.10, which means that it is oversold and that it may experience a price rebound.

The MACD indicator illustrates a negative momentum, and the MACD line has been below the signal line, strengthening the bearish position.

The future Cardano price outlook next target levels lie at the immediate support around $0.25, with a breakout above $0.30 offering a path for recovery.   

However, with bears still in play, the price of Cardano might even fall to lower support at around $0.23 or even to below $0.20.

Source: ADA/USDT 4-hour chart: Tradingview To sum up, the introduction of CME ADA Futures on February 9 may lead to an increase in the price of Cardano in case of institutional attention. Nonetheless, as market pessimism continues and ADA is in a bearish trend, a major rebound is not certain.

Frequently Asked Questions (FAQs) The launch may increase institutional demand and liquidity, potentially boosting Cardano's price if it attracts significant investor interest.

Cardano's price is experiencing a decline due to broader market slumps, with Bitcoin's drop affecting major cryptocurrencies like ADA.

Solana breaks key support as analysts flag head and shoulders risk, with chart targets near $75 and $42.

Tatevik Avetisyan2 min read

6 February 2026, 07:56 AM

Solana slipped below a key support zone, and two analysts now point to lower downside levels as the chart structure weakens. Alex Clay flagged a confirmed head and shoulders setup targeting $42, while CryptoUB mapped a bounce zone in the low $100s before a potential move toward about $75.

Solana chart confirms head and shoulders breakdownSolana has confirmed a head and shoulders pattern on the higher time frame chart, according to market analyst Alex Clay, who said the structure weakened after price lost a key support zone. In a post on X, Clay noted that the breakdown shifted market structure lower and removed the prior base that had supported several rebounds.

Solana / Tether Weekly Chart. Source: Alex Clay via X

As a result, the chart now reflects a completed reversal pattern rather than a consolidation. The neckline break marks the failure of the prior uptrend structure. Moreover, the former support area has flipped into overhead resistance, which limits near term recovery attempts on the same level.

Clay added that the measured move from the head and shoulders formation aligns with the $42 area. Therefore, the pattern target converges with a long watched horizontal level, which sits near a prior demand zone on the broader chart structure.

Solana chart points to bounce before deeper pullbackMeanwhile, Solana's higher time frame structure shows price pressing below a former support band, according to market analyst CryptoUB, who outlined a near term bounce zone followed by a deeper move lower. In a post on X, CryptoUB said the chart sets up for reactions in the low $100s before a continuation toward the mid $70s area.

As shown on the three day Binance chart, price has already lost the prior base that capped several rebounds in 2025. Therefore, the former support now acts as overhead resistance and limits upside attempts into the same range. At the same time, the chart marks a lower demand zone near the mid $70s, which aligns with a prior reaction area on the broader structure.

Moreover, the current structure reflects a shift away from the 2024 uptrend channel. Successive lower highs formed after the late 2025 peak. As a result, the broader bias remains tilted lower while price trades below the reclaimed level.

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Posted: February 6, 2026

The altcoin market has been crashing hard since last week. In fact, major altcoins from different sectors have graced the list of the market’s biggest losers over the last 24 hours.

On this front, LayerZero has led the way, losing 10% of its valuation during this period. Activity across its network has not only influenced this loss, but also the altcoin’s numerical outlook.

ZRO eyes 50% Fibonacci retracement level According to the altcoin’s daily chart, ZRO had faked a breakout above the 0.786 Fibonacci Retracement level only to close below it. The retracement was deduced from 10 October’s crash that saw ZRO create a flash low of $0.315. This suggested that bears had controlled this market for more than three months.

LayerZero’s drop for the day extended the weekly losses to 15%. This figure put the altcoin behind only Ripple (XRP) and ZCash (ZEC) in terms of daily losses at press time.

Momentum in favour of more downside seemed to be increasing too – A sign that sellers were willing to pull the price further down. The MACD bars, becoming denser as the signal lines crossed over on the downward side, confirmed this observation.

This outlook suggested a potential revisit to the 50% retracement level, which coincided with a previous resistance zone. Here, things could change as bulls could come in and view this as a retest for the area. So, caution may be warranted here.

Source: ZRO/USDT on TradingView

Staying below $1.718 would heighten the chances of a drop to $1.45 or lower. However, these targets could also be viewed as potential reversal points, as they house both major bulls and bears.

However, one question must be answered here – Is ZRO declining only because of its weak technical outlook?

Retail traders may be selling hard… No.

In fact, its on-chain activity has been giving similar vibes. As per data from Etherscan, ZRO has been dropping because of intense selling from retail traders too.

A sea of orders worth between $10 and slightly above $100 has been flooding DEX platforms like Uniswap (UNI). At press time, only a few trades were long – Insignificant in number compared to shorts.

Source: Etherscan

These findings are evidence of sell pressure from retail traders. Even though their volume has been usually small, they represent the sentiment of the general market. This might explain why the price of ZRO fell on the charts.

Transaction activity on LayerZero sliding too! Finally, the transaction activity dipped below noticeable levels too. The number of transaction counts dropped by more than 70% in about three weeks – Down from 3,479 to 981.

Additionally, the number of transaction amounts fell from 27.735 million ZRO to 8.137 million ZRO over the same period. Together, these observations suggested that activity has been sliding, accelerating the price drop.

Source: Etherscan

Here, it’s worth noting that according to popular analyst Benjamin Cowen, the near-term outlook for the market is bearish. What about the rest of the year though? Well, the analyst expects the same for Bitcoin (BTC). He claimed,

“BTC goes down and drags the rest of the market with it. Good chance this process ends later this year, so stay tuned!”

Final Thoughts ZROs price crashed by 10% on the back of a bear market structure and a fall in network activity. Some analysts expect the bear market to last through 2026. 

Hoskinson maintains a focus on blockchain innovation despite large personal financial losses.

Charles Hoskinson has lost over $3 billion in crypto but has chosen to stay committed, regardless of recent market losses, the founder of Cardano said during a Thursday livestream.

“It’s easy for you to say, Charles, you’re rich. You can ride it out. I’ve lost more money than anyone listening to this, over $3 billion now,” Hoskinson said. “It’d have been real easy to cash out. Just walk away. And do you think I honestly care if I lose it all? Do you think I’m doing this for money? You’re pretty mistaken if you do.”

Hoskinson emphasized that he is not motivated by personal gains and has avoided major scandals like the FTX fallout or the Epstein files by consistently turning down questionable opportunities and prioritizing integrity over access or influence.

He previously criticized some industry leaders for accepting the flawed CLARITY Act in exchange for power, wealth, and elite status.

Commenting on market conditions, Hoskinson encouraged the crypto community to endure the “red days” and focus on collaboration and continued development.

“It’ll get worse. It’ll get redder. It is what it is. But at the end of the day, are you having fun? Find a way to. And know that each and every one of you in the cryptocurrency space, you’re doing something that matters. You’re doing something that has the potential to change the world,” he said.

On Cardano, Hoskinson expressed optimism about the project’s infrastructure, governance, and future commercialization despite the downturn, with projects like Hydra, Leios, and Midnight showing development progress.

Hoskinson co-founded Ethereum before leaving the project in 2014. He launched Cardano in 2017 through IOG with a focus on scientific research and sustainable blockchain design.

In his remarks last night, Hoskinson also praised Ethereum co-founder Vitalik Buterin and Solana co-founder Anatoly Yakovenko as allies in advancing crypto adoption.

BTC, ETH, BNB, and XRP prices continued their freefall on Friday, triggering over $2.5 billion in liquidations across leveraged markets.

Summary

Bitcoin, along with other major cryptocurrencies, fell by double digits as they mirrored weakness in tech stocks. Over $2.6 billion worth of positions have been liquidated across crypto leveraged markets. Market sentiment hit fear levels last seen during the 2022 Terra collapse. According to data from crypto.news, Bitcoin (BTC) price fell 18% from Thursday’s high of $73,639 to an intraday low of $60,255 on Friday morning. This marked its lowest level since October 2024. While it has recovered from part of its losses, trading around $64,600 at press time, it remains 34% below this year’s high of $97,538.

Ethereum (ETH) price fell 10% to a nine-month low of $1,756 before settling at a little above $1,900, down 10% over the past 24 hours. The largest altcoin by market cap had fallen 43.6% from its yearly high. BNB (BNB) fell under $600 before recovering the support zone and standing 11% lower on the day.

Other large-cap cryptocurrencies such as XRP (XRP), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) remained with losses ranging between 12-16%. Some of the top laggards of the day were LEO Token (LEO), Monero (XMR), and Official Trump (TRUMP). Altogether, the crypto market fell 8.2% to $2.27 trillion at the time of writing.

The market drop triggered massive liquidations across leveraged markets. Data from CoinGlass shows that over $2.6 billion worth of positions were liquidated in the past 24 hours, with $2.31 billion, roughly 89%, stemming from long positions. 

Bitcoin led the carnage with $1.08 billion in long wipeouts, followed by Ethereum at nearly $455 million. In total, approximately 590,810 traders were liquidated, including a single $12 million position on Binance.

What triggered this liquidation crisis? The primary catalysts triggering today’s liquidations were Bitcoin’s drop below $70,000 and subsequently $65,000, where large clusters of leveraged long positions were located.

When a leading asset loses major key support levels where bullish bets are concentrated, they trigger forced sell orders, which can quickly develop into a liquidation cascade that is a self-reinforcing loop of falling prices. Bitcoin’s sharp decline effectively pulled the floor out from under other large-cap digital assets.

Notably, the largest crypto asset has fallen over 20% so far this week as it suffers from the weakness in U.S. tech stocks such as Microsoft, AMD, and Nvidia.

Microsoft shares stood over 8% lower in the past five days, while chip-making giants AMD and Nvidia shares were down 18.5% and 10%, respectively, over the same period. These declines come amid disappointing earnings and concerns related to heavy AI infrastructure spending. AI-based cryptocurrencies have been some of the leading losers of the day, with the sector as a whole down 42% in the past 24 hours.

Risk sentiment was also hurt as investors reacted to weak U.S. jobs data, including rising unemployment claims that raise doubts about sustained economic strength and potential Fed caution on aggressive rate cuts this year.

Waning institutional demand has added another layer of pressure to already fragile retail confidence. Most notably, spot Bitcoin ETFs faced a brutal three-day streak of outflows, with investors pulling over $1.2 billion from the funds. 

Compounding this bearish momentum, World Liberty Financial, the crypto venture backed by the Trump family, reportedly offloaded more than $5 million in Bitcoin holdings just a day before the crash.

In the midst of the market bloodbath, the Crypto Fear and Greed Index plunged to a score of 9 on Friday, signaling extreme fear among investors and marking the lowest level recorded in over three and a half years. The last time the sentiment score fell this low was during the catastrophic Terra blockchain collapse of 2022.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Japan’s Metaplanet will continue buying Bitcoin even as the crypto market downturn has weighed heavily on the company’s shares.

Summary

Metaplanet said it will continue accumulating Bitcoin despite a sharp market selloff that has pushed its shares down more than 63% over the past 6 months. The firm added roughly $451 million worth of Bitcoin in Q4 2025, lifting total holdings to 35,102 BTC. As Bitcoin price touched $60,000 around the Asia open, Metaplanet CEO Simon Gerovich took to X to reaffirm the company’s decision to continue stockpiling the flagship cryptocurrency.

“We are fully aware that, given the recent stock price trends, our shareholders continue to face a challenging situation,” Gerovich wrote, before adding that the current market scenario will not affect Metaplanet’s Bitcoin buying strategy.

“We will steadily continue to accumulate Bitcoin, expand revenue, and prepare for the next phase of growth,” Gerovich said.

Metaplanet shares were down over 6% at the time of writing after falling from the day’s open. Losses have been more prominent over the past six months, with the stock dropping more than 63.4% over that period.

Bitcoin is down over 47% from its all-time high as of press time, but the persistent downturn over the past month did not deter Metaplanet from inflating its reserves.

Throughout the last quarter of 2025, Metaplanet acquired roughly $451 million worth of the largest cryptocurrency, which pushed its total holdings to 35,102 BTC.

According to data from Bitcoin Treasuries, the company’s average cost of acquisition is around $107,716. That puts the company at an unrealized loss of nearly 39% based on current prices.

Top Bitcoin holders unfazed by crash Metaplanet is not the only Bitcoin hoarder that is currently underwater, as Strategy, the largest corporate holder, reported a $12.6 billion net loss for Q4 2025. With an average acquisition cost of $76,052 per BTC, its holdings are also in the red, with losses of over 13%.

However, like Gerovich, Strategy CEO Michael Saylor has assured that the company will continue buying Bitcoin and even dismissed fears of liquidation by noting that BTC would have to crash to $8,000 before it becomes a concern.

Metaplanet, on the other hand, is gearing up to raise as much as $137 million using a combination of common shares and stock acquisition rights to fatten its reserves and reduce debt.

The announcement, however, did not bode well with company shareholders, as the company’s stock fell by over 3.5% on the day.