Opening Outlook: Earnings, AI, and Chipmaker Takeovers Impact Markets Today (2/4/2026)

Opening futures mixed as tech weakness dragged the major indexes lower. Dow and S&P 500 futures gained 0.2% and 0.1%, while Nasdaq futures fell 0.2%. Gold rose 3% to over $5,000/oz, and Bitcoin hovered near $76,000 after a recent intraday dip. The 10-year Treasury yield held at 4.27%. Advanced Micro Devices (AMD) shares were down 9% after topping expectations with $10.27B revenue and $1.53 EPS, but a more conservative revenue outlook dampened sentiment. Analysts are closely watching Alphabet (GOOGL) and Amazon (AMZN) earnings for signals on AI demand and cloud services. Post-earnings movers included Eli Lilly (LYY) up 9%, Novo Nordisk (NVO) down 5%, Chipotle (CMG) down 6%, Uber (UBER) down 5%, Super Micro (SMCI) up 12%. Silicon Laboratories (SLAB) surged as it agreed to be acquired by Texas Instruments (TXN) for $231/share, valuing the company at about $7.5B, with a deal expected to close in H1 2027. Texas Instruments shares were down 4% pre-market.