Federal Reserve Governor Stephen Miran stated Feb 9 that a weaker U.S. dollar is not influencing current monetary policy decisions. He noted at a Boston University appearance that the type of dollar decline seen recently does not meaningfully impact consumer inflation and would only be a concern if the decline were very dramatic. Miran added that the dollar’s current weakness is not material to policy decisions to date.

Alphabet Inc. (GOOGL) will issue a 100-year sterling bond, joining an exclusive group of entities to borrow for a century. The move is part of a broader plan to raise over $20 billion across multiple currencies, funding its $185 billion AI infrastructure spending. Only Oxford University, the Wellcome Trust, and EDF have issued century bonds in sterling; others are typically sovereigns.

Demand for the bond was five times oversubscribed ($100 billion), while the Nasdaq rose 1% on Monday. Alphabet has $127 billion in cash and plans to double its capital expenditure to $185 billion this year amid a $660 billion, 60% increase in spending by major tech firms. The century bond marks Alphabet’s first borrowing in sterling and its second major issuance in four months.

Emanate (EMAN), a San Francisco-based industrial AI revenue engine, made its public debut, signaling deeper integration of AI into the physical economy. The startup, led by Kiara Nirghin, a Thiel fellow and youngest board member of the Google Impact Fund, is backed by a16z and prominent angels including Peter Thiel, Alexis Ohanian, and Ben Horowitz.

Emanate targets the $5 trillion industrial materials distribution market, modernizing legacy operations with 24/7 autonomous AI agents that convert inbound demand, nurture relationships, and research prospects, aiming to lift customer revenue by 60%–80%. It projects near-50x revenue growth in the coming months as it deepens design partnerships with leading industrial distributors.

The investment aligns with a16z’s $1.1 billion American Dynamism Fund, emphasizing national infrastructure and industrial technologies. Emanate, founded in 2025 and staffed by under 10 AI engineers, differentiates itself by focusing strictly on revenue generation rather than general logistics automation.

Universal Corp (UNV) will host its Q3 2026 earnings conference call at 5:00 PM Eastern Time on Tuesday, February 12, 2026. The call is scheduled to review third-quarter financial results, including revenue, operating income, and EPS guidance for Q4 2026. The company will also address macroeconomic impacts on its supply chain and consumer demand. A live webcast will be available on the company’s investor relations page and a recording will be accessible shortly after the call.

Simpson Manufacturing (SMI) will hold its Q4 2025 earnings conference call at 5:00 PM Eastern Time on February 13, 2026. The company reported fourth-quarter revenue of $312 million, a 4.2% year-over-year increase, and EPS of $0.82, reflecting improved demand in its industrial components division. The call will include a review of production efficiency gains and guidance for Q1 2026.

The semiconductor company ON Semiconductor (ON) is scheduled to hold its Q4 2025 earnings conference call at 5:00 PM Eastern Time on February 12, 2026. The call will provide updated financial results, revenue guidance, and management commentary on the quarter's performance and outlook.

Supporting context includes the company's recent focus on power management and automotive electronics. The earnings call will be streamed live on the company's investor relations website and will be followed by a Q&A session with analysts and institutional investors. Key metrics to watch include revenue, gross margin, and operating income for the quarter ended December 31, 2025.

Sagax AB (SGAX) reported a significant increase in Q4 net profit on Feb 9, 2026, driven by gains in property values. The surge followed a full-year 2025 loss, reflecting higher realized gains from property sales and improved operational performance.

Fourth-quarter net profit rose to SEK 1.23 billion (USD 129 million), up 62% from SEK 760 million in the same period of 2024. The company attributed the improvement to a stronger property market and a 15% increase in realized gains from disposals. However, full-year 2025 net loss widened to SEK 1.36 billion, compared to a loss of SEK 1.02 billion in 2024.

CEO Anna Lundgren stated in a press release, "The Q4 results reflect the resilience of our core markets and the effectiveness of our asset management strategies."

Cocoa futures fall sharply on Feb 9, 2026: March CCH26 down -2.43% (-102), March CAH26 down -3.38% (-103). Pressure stems from abundant supplies and tepid demand, with ICE-monitored stocks at a 1.5-year high of 2,966,214 bags.

Global surplus outlooks weigh on prices: StoneX projects 287,000 MT surplus in 2025/26 and 267,000 MT in 2026/27; ICCO stocks rose 4.2% y/y to 1.1 MMT. Output weakness persists—European grindings -8.3% y/y Q4-2025, Asian -4.8%, North American +0.3%—while Ivory Coast shipments in the marketing year Oct 1, 2025–Feb 8, 2026, fell -3.8% to 1.27 MMT.

Support for prices includes a tighter global supply outlook: ICCO revised 2023/24 to a deficit of -494,000 MT, and estimated 2024/25 surplus of 49,000 MT after production rose +7.4% y/y to 4.69 MMT. Favorable growing conditions in West Africa and smaller Nigerian exports (-7% y/y to 35,203 MT) add downside, while Nigerian production is forecast -11% y/y to 305,000 MT in 2025/26.

OpenAI began rolling out a limited test of ads in ChatGPT to U.S. free and Go users starting February 6, 2026. Sponsored content will be clearly labeled and shown separately from responses. The change follows hours of Super Bowl commercials by Anthropic mocking ad integration in AI assistants. Ads will not appear for users under 18 or near sensitive topics, and Pro, Business, and Enterprise subscriptions remain ad-free.

Background: OpenAI previously only provided product links without tracking. The shift comes as the company burned through $8 billion in 2025 and projects $74 billion in cumulative losses through 2028. Market share fell from 87% in January 2025 to about 65% in February 2026, per SimilarWeb, while Google Gemini rose to over 18%. OpenAI is finalizing up to $100 billion in new funding, with potential commitments from Microsoft, Nvidia, Amazon, and SoftBank.

Gold and silver futures trade higher on Monday as NY Mercantile Exchange (NYMEX) prices climbed amid stable risk sentiment and continued inflows into safe-haven assets. Gold futures CL=F closed at $2,345.20 per ounce, up 0.7%, while silver futures SI=F settled at $30.85 per pound, a 0.9% gain. The gains reflect ongoing strength in precious metals amid geopolitical uncertainties and solid economic data in the Northern Hemisphere.

The NYMEX is the primary exchange for trading gold and silver futures in the United States.

Political turmoil within the UK Labour Party is driving a sell-off in government bonds and prompting institutional investors to cut exposure to sterling assets. Ten-year gilt yields climbed to 4.59% on reports that Scottish Labour leader Anas Sarwar may demand Prime Minister Sir Keir Starmer step down, before easing to 4.53% later in the session. Banks including Mizuho and Aberdeen, as well as asset managers at Premier Miton and Standard Life, have reduced gilt holdings and broader UK equity exposure, citing risks of higher public spending, expanded welfare, and a more left-leaning fiscal stance under a successor government.

The pound fell to about €1.148 and traded near $1.37 as investors priced in sterling weakness and higher borrowing costs. Economists warn a leadership change could trigger a “mini-Budget”-style fiscal tightening, pushing gilt yields higher by as much as 0.5 percentage point and appreciating the risk of recession. Markets remain focused on the leadership race, with Angela Rayner and Andy Burnham as top contenders, and prediction markets giving Starmer a 77% chance of losing his job by year-end.

Crude oil and gasoline prices climbed sharply on February 9, 2026. March WTI (CLH26) rose +1.24% to +0.79¢, and March RBOB gasoline (RBH26) gained +1.84% to +0.0360¢, the latter reaching a 2.5-month high. The dollar index (DXY) hit a 1-month low, pushing energy higher. Geopolitical risk increased as the U.S. issued a maritime advisory steering vessels away from Iranian waters, including the Strait of Hormuz, amid ongoing negotiations with Iran and fears of potential military action. The University of Michigan’s February consumer sentiment index surprised upward to a 6-month high, supporting energy demand. OPEC+ maintained its pause on production increases through Q1 2026, while higher Venezuelan crude exports and reduced Russian exports due to ongoing conflict and sanctions weighed on supply.

Kroger Co. (KR) appointed Greg Foran as CEO, effective February 12, 2026, to strengthen its position in the escalating grocery battle with Walmart (WMT). Foran, who previously led digital transformation at Air New Zealand and U.S. Walmart, oversaw 20 consecutive quarters of comparable domestic sales growth at Walmart.

Analysts at UBS note Foran will prioritize competitive wages and pricing, with a likely focus on rebuilding e-commerce and logistics capabilities. Kroger’s pending $21 billion acquisition of Alberton’s (ACI) was blocked in late 2024. The company relies on platforms including Instacart (CART), DoorDash (DASH), and Uber (UBER), but UBS warns the lack of full consumer-touchpoint control may limit flexibility as agentic commerce emerges.

Kroger shares rose 5% to 10% year-to-date, outperforming the broader market, despite missing earnings expectations for six consecutive quarters. The company is navigating headwinds from discounters like Aldi, intensifying e-commerce competition, and potential pharmacy sales declines under new policy changes.

Block (BKYC) announced another round of layoffs as part of ongoing cost-cutting, impacting employees across multiple teams and coinciding with annual performance reviews. This follows three consecutive years of early-year reductions, including cuts of about 8% in staff in March 2025 and January 2024. The company maintains a cap of 12,000 employees since 2023.

As of December 31, 2024, Block had 11,372 full-time employees globally, with 2,627 outside the U.S. Layoffs through the first nine months of 2025 are expected to cost about $79.5 million in severance and related expenses.

Analysts suggest these actions align with the company’s three-year outlook to enhance operating leverage and shift investments toward sales and marketing. Block continues to actively hire with 304 open roles across legal, design, finance, hardware, IT, machine learning, sales, and product. The company is focusing on Rule of 40 profitability, expanding Cash App features, engaging a teen advisory council, and establishing a new Dublin, Ireland office to support European growth.

Ford (F) is scheduled to report fourth quarter results Tuesday, Feb 11, 2026, with a key focus on electric vehicle write-downs and production disruptions from an aluminum plant fire affecting F-150 pickups. Bloomberg consensus: revenue $42.40B, adjusted EPS $0.19, adjusted EBIT $1.16B.

The company is expected to recognize $12.5B of a $19.5B EV-related charge in Q4, including $5.5B in cash for cancellations and $8B in asset impairments (EV write-down and $6B restructuring of assets including SK On battery plants). These reflect softer demand for larger EVs and the expiration of the federal EV tax credit, which reduced Ford’s EV sales by about 50% while hybrid sales hit a record 228,072 units in Q4 and rose 21.7% year-over-year.

Ford raised 2025 adjusted EBIT guidance to ~$7B (vs prior $6–$6.5B) and reaffirmed free cash flow guidance of $2–$3B. US sales rose 2.7% in Q4 and 6% for the year to about 2.2M vehicles, outpacing GM’s 5.5% annual gain but with a Q4 sales decline after the tax credit expired. The Novelis-related production headwind is expected to impact 2025–2026 with $1B or less.

Air Canada suspended flights to Cuba effective February 10, 2026, as the U.S.-imposed restrictions on Venezuela’s oil are causing a commercial jet fuel shortage expected to last through March 11. A Notice to Airmen (NOTAM) warned of unreliable availability at key airports. The carrier will tanker in extra fuel and make refueling stops as needed and will send empty flights to evacuate about 3,000 passengers.

The shortage follows months of interrupted crude and refined fuel deliveries from Venezuela, effectively cutoff by U.S. sanctions. Similar disruptions have prompted other U.S. carriers to continue operating with sufficient fuel for at least one more leg of their routes.

Caterpillar (CAT) extended a bull run to February 2026, closing at $572.87, up 85% from $309.27 in April 2025. From its March 2020 low of $116.04, the stock is up 393%, adding another 28% by early February 2026. The pattern mirrors metals like gold and silver, reflecting strong mining equipment demand and infrastructure spending, creating backlogs and boosting the energy department’s diesel and natural gas generators. The rally continued through December 2025, with CAT adding to a streak of annual gains since 2018. Duration remains uncertain, with a key principle: trends persist until an external force acts.

Meta founder and CEO Mark Zuckerberg, alongside wife Dr. Priscilla Chan, announced a $50 million donation to Sacramento State University, Jan. 28, 2026, to construct state-of-the-art STEM labs and an AI center as part of a redevelopment of three Capitol Mall office buildings into a downtown campus. The gift funds abatement, demolition, and initial construction, adding student housing and academic spaces.

This donation aligns with the Chan Zuckerberg Initiative’s refocus on frontier AI and biomedical research through its Biohub network, which aims to cure or prevent all disease. The initiative recently laid off 70 staffers and has prioritized AI talent pipelines, consistent with Meta’s announced $115B–$135B investment in superintelligent agents and its own AI hiring.

Zuckerberg’s commitment to California underscores his ongoing philanthropic and strategic bets in AI and STEM, framing 2026 as a transformative year for both Meta and CZI.

Gold prices extended their upward trend on February 9, 2026, as the U.S. dollar weakened against major currencies. Spot gold rose to $2,341.50 per ounce, up 1.2% from the session's close, while gold futures hit $2,358.00, a 1.1% gain. The dollar index fell to 102.35, down 0.7% from Friday, reflecting risk-off sentiment and accommodative Fed policy expectations. ETF gold holdings, measured by the GLD share, added 0.8% in overnight trading, indicating continued safe-haven demand.

MegaETH launched its public mainnet on February 06, 2026, introducing a high-throughput, low-latency layer-2 real-time blockchain aiming for over 100,000 transactions per second (tps), compared to Ethereum’s less than 30 tps. The move comes amid renewed debate over Ethereum’s scaling path, with proponents of layer-2 rollups and advocates pushing for more layer-1 capacity to reduce fragmentation and improve user experience.

The project, backed by a $20 million seed round in 2024 led by Dragonfly and a $450 million oversubscribed token sale in October 2025, has a partially locked native MEGA token with unlocks tied to network milestones. The debut positions MegaETH as a high-speed alternative to Ethereum’s current on-chain performance, landing in the middle of the ongoing technical and strategic discussion about blockchain scalability.