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February 4 Earnings Releases
Several highly anticipated stocks reported earnings today. Among them, Qualcomm was the day’s biggest loser, while Adient emerged as the top winner.
Qualcomm reported Q1 2026 revenue of $12.25 billion, up 5% year over year and above expectations. However, its Q2 revenue guidance of $10.2 billion to $11 billion fell short of forecasts, triggering a 9% stock drop.Adient shares jumped 13% to $23.77 after the company raised its outlook. The automotive seating maker now expects 2026 revenue of about $14.6 billion, up from a prior estimate of $14.4 billion, and lifted its adjusted EBITDA forecast to roughly $880 million from $845 million.
Newsquawk US Market Wrap Part 2
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Newsquawk US Market Wrap Part 1
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US500 (SP500) UPDATE
Shaken but not broken.
- Retreat from 7003 stopped dead on at 6839 to form a double bottom to maintain the current range.
- However, with 7000 capping the upside, the onus is on the bull side to at least establish above 6900 to keep thoughts away from the downside. 6941+ is needed to negate the risk.
- Otherwise, expect choppy consolidation trade while within 6839-7003
US500 4 HOUR CHART
Stocks get a lift from US-Iran talks back on
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Trump applies pressure on Iran
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ETHUSD
Recent falls in cryptocurrencies have left buyers looking at the next chart support levels where they could buy them back at a cheaper level after a steep fall. Ethereum has fallen to the 2,150 level, the lowest since June 2025 . Whether buyers step in here or fail to hold this support could determine whether the move proves to be a temporary liquidity flush or the beginning of a deeper trend shift.
Ethereum’s price may continue searching for equilibrium within historically significant valuation ranges, with near-term direction hinging on whether activity stabilises or accelerates further.
XAUUSD (GOLD) UPDATE
- Failure to hold 5000+ has cooled thoughts of an immediate reversal but to fully negate the risk 4595 would need to be broken.
- On the other side, only through 5092 would build momentum although technically it is still a retracement as long as it stays below 5140 (61.8%).
- Otherwise, it is back to no man’s land while trading within 4800-5000 with 4850 blocking the lower end. Always pay attention when a “50” level holds.
XAUUSD 4 HOUR CHART
Bessent on the USD
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Bessent on the USD
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BTCUSD (BITCOIN) UPDATE
- On the defensive again and dependent on the recent 72775 low holding as charts show 66750, 58850 and 49390 as potential supports below it (weekly chart).
- Back above 74500 and then 75000 would be needed, at a minimum, to slow the risk.
I was sent this earlier:
“Historically, there’s been a “tremendous amount” of near-religious belief in holding on to Bitcoin no matter what, Michael Novogratz, chief executive officer of Galaxy Digital LP, said on an earnings call. “And somehow that virus or that fever broke, and you started seeing some selling.”
BTCUSD 4 HOUR CHART
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