Weekly Market Update

This week's markets have been marked by significant volatility, driven largely by concerns over AI disruption and tech sector performance. Despite a promising start on Monday, with the Dow Jones Industrial Average rising 1% and the S&P 500 adding 0.5%, the Nasdaq Composite (^IXIC) initially moved in the opposite direction due to early malaise for techs.

Key Takeaways:
• Tech-heavy stocks continued their downward trend throughout the week, with Nvidia (NVDA), Amazon (AMZN), and Microsoft (MSFT) experiencing notable losses.
• The S&P 500 (^GSPC) ultimately moved lower by about 0.5%, while the Nasdaq Composite (^IXIC) fell over 1.5% on Wednesday.
• The Dow Jones Industrial Average (^DJI) rose 0.4% on Wednesday, but closed the week in the red.

Economic Indicators:
• A partial government shutdown delayed the release of the monthly jobs report, which was originally scheduled for Friday and is now rescheduled for next Wednesday.
• An ADP report revealed a lower-than-expected job addition in January (22,000 vs. 45,000).
• Layoff announcements surged to their highest level since 2009.

Precious Metals:
• Gold (GC=F) continued its roller-coaster ride, experiencing significant price swings throughout the week.
• Silver (SI=F) plummeted by as much as 17% on Thursday, erasing all of its two-day recovery.

Cryptocurrency News:
• Bitcoin (BTC-USD) plunged to its lowest level since 2024 and wiped out all gains accumulated during President Trump's second term.

Corporate Earnings:
• Alphabet (GOOG) reported a significant ramp-up in AI investment, with plans for up to $185 billion.
• Amazon's (AMZN) earnings report is due next week, with expectations of a 21% jump in sales from its AWS cloud unit.