Crude prices steadied at key levels Tuesday as traders reassess supply risks in the Middle East amid heightened geopolitical tension. The US warned ships to steer clear of Iranian waters through the Strait of Hormuz, a critical chokepoint for energy flows. Brent crude traded near $69 per barrel and WTI close to $64, with Brent rising over 2% in the prior two sessions.

The Strait of Hormuz is a key artery for Middle East oil to global markets, and Tehran has previously signaled it might close during heightened tensions. Prices gained more than 10% this year as geopolitical risks outpaced concerns of a global oil glut. Analysts note the potential for a negotiated settlement with Iran could reduce conflict risks and stabilize prices. Upcoming data from the US will provide further market insight.

LMAX Group (LMAX) today launched Omnia Exchange, a unified multi-asset trading platform enabling seamless conversion of FX, crypto, stablecoins, and other digital assets. The platform allows any asset to be traded directly against any other 24/7, with settlement options on traditional rails or instant blockchain. LMAX reported $8.2 trillion in institutional trading volume last year.

Omnia aims to break down silos between traditional markets and digital assets, offering institutions global wholesale access to FX and digital asset markets. LMAX CEO David Mercer stated the platform “crosses the rubicon” between traditional and digital marketplaces, removing barriers and reducing friction to unlock liquidity and improve efficiency.

The move follows LMAX’s integration with Ripple’s RLUSD, reflecting growing institutional adoption of stablecoins for market access beyond crypto-native use.

Los Angeles, Long Beach, and San Diego are among the world’s least affordable cities for homebuyers, per a Remitly report released December 30, 2025. Using pre-tax salaries and median home prices, the cities ranked in the top five for affordability challenges, surpassed by New York, Paris, and Singapore.

In Los Angeles, an average earner could afford a home that is 28% of the regional average; in San Jose, about 25%. San Francisco (10th) and Oakland (19th) also appeared on the "20 Least Affordable" list.

The report compared 151 cities across 11 countries, finding California home prices roughly twice the national median of $475,000 as of December 2025. Detroit, the only U.S. city on the affordability list, was rated the most affordable due to population loss, high vacancy, and lower demand.

Urban analysts attribute California’s high housing costs to strong affluence and limited supply, making entry-level home prices especially unattainable.

SpaceX announced the acquisition of xAI, the AI company behind the social media platform X, in a $1.25 billion merger creating a combined entity valued higher than the sum of their separate valuations. The deal is expected to price at roughly $525 per share if SpaceX goes public, likely this year. The merged company is pursuing a futuristic vision of deploying solar-powered AI “satellite data centers” in sun-synchronous orbit to perform computations and potentially reduce Earth-based data center costs within three years. However, technical challenges include radiation-hardening chips, efficient heat dissipation, and reliable low-orbit communication, with a 2040 timeline for a usable system being typical. SpaceX’s $17 billion in wireless spectrum purchases and a partnership with T-Mobile support but do not position it to replace terrestrial cellular networks.

Duke Energy Corp. (DUK) released Q4 earnings of $1.18 billion, or $1.50 per share, missing analyst expectations of $1.51 per share. Revenue reached $7.94 billion, exceeding the $7.64 billion average forecast. For the year, the company posted net profit of $4.97 billion, or $6.31 per share, on revenue of $32.24 billion. Management guidance for full-year 2026 earnings is $6.55 to $6.80 per share.

CVS Health (CVS) beat Wall Street estimates for the fourth quarter despite a per-share profit decline, driven by 6.3% growth in prescriptions and the acquisition of Rite Aid assets. Adjusted profit fell to $1.09 vs. $1.19, but exceeded the 99 cents per share average. Total revenue rose to $105.7B from $97.7B, with Health Services revenue reaching $51.2B from $47B. The Inflation Reduction Act raised medical loss ratios and Medicare Advantage costs, while lower-than-expected 2027 payment rate proposals pressured shares. The company reaffirmed its 2026 full-year adjusted EPS guidance of $7.00–$7.20 per share.

Axalta Coating Systems (AXTA) reported fourth-quarter net income of $60 million, or 28 cents per share, with adjusted earnings of 59 cents per share. Revenue for the quarter totaled $1.26 billion, in line with expectations, while results missed analyst forecasts of 61 cents per share.

For the full year, the company recorded profit of $378 million, or $1.74 per share, on revenue of $5.12 billion. Management guided to 50 cents per share for the first-quarter and $2.55 to $2.70 per share for the full year.

AXTA shares rose about 6% year-to-date, but are down 8% over the past 12 months as of February 10, 2026.

Ares Commercial Real Estate Corp. (ACRE) reported a fourth-quarter loss of $3.9 million, or 7 cents per share, with adjusted earnings of 15 cents per share, exceeding the 1 cent per share average estimate of three Zacks analysts.

Revenue totaled $13.2 million for the quarter, with adjusted revenue at $23.7 million. Year-over-year, the loss narrowed to $902,000, or 2 cents per share, on revenue of $97.6 million.

ACRE shares rose 7% year-to-date, while the stock has declined 14% over the past 12 months as of February 10, 2026, 11:21 UTC.

USDA's reliability is under fire after sharply upward revisions to 2025 corn harvested acres, sending corn futures down 5.4% and weighing on already-struggling prices. The Jan 31 final estimate of 91.3 million harvested acres, up 5.2% from June, contrasts with a 95.2 million June plantings estimate and a 98.8 million September figure.

Deep staff reductions—Farm Service Agency lost 24%, National Agricultural Statistics Service 34%—are cited as contributing to delayed and less accurate data. USDA's internal review, announced by NASS official Lance Honig, will assess procedures and explore improving harvested acreage estimates with less reliance on farmer surveys.

The agency's reputation is further strained by declining farmer survey participation and the Jan 31 miss, which raised concerns about data quality and risk management for traders and manufacturers.

Alphabet (GOOGL) sold a $20 billion seven-part bond offering maturing through 2066 to fund escalating AI infrastructure spending, signaling a shift from cash-run investments to external capital.

The move follows hundreds of billions poured into generative AI, with U.S. tech giants forecasting $630 billion in capital expenditures this year,主要集中 on data centers and AI chips. Alphabet indicated it will spend up to $185 billion this year, with Oracle (ORCL) selling $25 billion in notes in a related filing earlier this week.

Alphabet announced a $20 billion (€16.8 billion) bond sale on February 07, 2026, an upsized offering that exceeded $100 billion (€84 billion) in demand. The company is planning a multi-currency raise, including a potential 100-year GBP issuance, following a seven-tranche USD offering that includes a 40-year bond maturing in 2066. Pricing is expected to narrow from 1.2% over U.S. Treasuries to about 0.95%, with three-year notes trading 0.27% above Treasuries. JPMorgan, Goldman Sachs, and Bank of America are participating. The strategy diversifies the investor base, leverages lower sterling rates, and supports record AI capital expenditures of over $185 billion (€155 billion), driving long-term debt to $46.5 billion (€39 billion) while cash remains充裕 at over $125 billion. Oracle raised $25 billion in a similar offering last week, and Morgan Stanley estimates tech hyperscalers will raise about $400 billion in 2026, potentially pushing high-grade U.S. corporate bonds to a record $2.25 trillion.

Niikel Digital Asset Management highlights that while AI is deeply embedded in core investment and risk processes for about 96% of surveyed trading firms managing roughly $14 trillion in assets, it cannot save portfolios during market stress. Anatoly Crachilov, CEO, stresses the need for human oversight to manage risk and enforce maximum drawdown limits, especially in volatile crypto environments.

Niikel employs a "military-style" operations model processing over 100 million data points every 24 hours, yet relies on human judgment to override AI decisions and handle erroneous exchange data that can falsely trigger limits. The firm diversifies across more than 80 managers and hundreds of sub-accounts to eliminate a single point of failure, ensuring resilience during system outages or data patches.

In early 2026, amid a crypto slump at the end of January, Niikel remains cautiously positive for the year, emphasizing that AI augments, rather than replaces, human decision-making in trading and risk management.

TSMC (2330-TW/TSM-US)’s June 10 board meeting approved a cash dividend of TWD 6 per share for Q4 2025, maintaining the prior quarter level. The record date is June 17, 2026, with the ex-dividend date June 11, 2026. Share transfers will be suspended from June 13–17, 2026; the dividend is expected to be paid on July 9, 2026. The U.S. depositary shares will also have the same ex-dividend and record dates.

The board also approved 2025 performance and compensation (dividend) payouts totaling about TWD 206.14592 billion, a 46.6% increase over 2024. Performance awards of about TWD 103.07296 billion were paid after the quarter, while compensation will be distributed in July 2026. With about 78,000 employees, the average payout exceeds TWD 264 million.

Full-year 2025 results: revenue of about TWD 3.809054 trillion, net profit of about TWD 1.717883 trillion, and EPS of TWD 66.25. The company approved a capital budget of about USD 44.962 billion to expand and upgrade advanced process and packaging capacity, facilities, and green initiatives. It also authorized up to USD 3 billion in debt to fund expansion and green projects, and up to USD 300 billion to fully subscribe in TSMC Global to reduce hedging costs.

Homeowners can reduce mortgage interest and shorten loan terms by switching from monthly to bi-weekly payments, which effectively add about 13 monthly payments per year. For example, a £200,000, 25-year mortgage at 4% could save roughly £15,700 in interest and shave 3–4 years off the term.

This strategy works by increasing principal reductions, which lower future interest. About 25% of Barclays mortgageholders actively overpay, averaging £221/month. Most lenders allow up to 10% early repayment without a charge, with NatWest permitting 20%.

Not all lenders allow bi-weekly payments; Halifax and Santander impose complex or ban it, respectively. Payments must be made by deadlines to avoid late fees. Alternatives include adding an extra monthly payment or making regular overpayments, which can also significantly reduce interest and payoff time.

Wayve, a Cambridge-based self-driving car pioneer, is on track to achieve a $9 billion valuation with a projected £6.6 billion funding round as it prepares to launch autonomous taxi trials in the UK. The company is finalizing over $1 billion in Series C financing, part of a broader push to expand its robotaxi operations and technology globally, with trials already active in San Francisco, Germany, and Japan.

Wayve has a deal with Uber to pilot its technology in ride-hailing vehicles later this year. NVIDIA is reportedly considering a $500 million investment in the round, and Microsoft and SoftBank are among potential backers. Wayve’s proprietary AI learns to navigate without prior mapping, distinguishing its approach from competitors.

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Rivals are accelerating: Waymo (GOOGL) raised $16 billion last week to expand robotaxi services, and Uber and Lyft are collaborating with Apollo Go (owned by Baidu) on UK trials. Tesla is also testing its self-driving technology on British roads.

Apple and Google agreed to implement changes to their mobile app stores to enhance fairness and transparency for developers, the U.K. Competition and Markets Authority (CMA) said Feb 10, 2026. Appointed with strategic market status in October 2025, the CMA now has the authority to require specific actions to bolster competition.

The companies will review apps fairly, objectively, and transparently, and developers will gain broader access to key iOS features like digital wallets and live translation to foster competition. The CMA previously warned their dominant positions in app stores and browsers allow them significant influence over content and technology.

Apple and Google issued joint statements affirming their commitment to fair practices while emphasizing ongoing innovation and developer opportunities.

Morgan Stanley (MS) maintains a positive outlook on the software and AI-driven tech sectors despite recent volatility following Anthropic's Claude AI release. Mike Wilson, the bank's stock strategy director, emphasizes continued tailwinds for AI ecosystems and the undervaluation of "AI adopters."

Key support includes:

- 12-month earnings growth expected at 18%, a multi-decade high;

- 12-month P/E of about 27x, currently the 12th percentile within large-cap technology groups;

- AI-capital-expenditure leaders outperforming on relative revenue;

- Expanding profit expectations across technology sub-sectors;

- AI adopters outperforming non-adopters by roughly 1% on财报 day;

- The U.S. dollar down about 9% year-to-date, likely benefiting overseas revenue-sensitive techs.

>2/10/2026

Amgen (AMGN) reported Q4 broad-based sales growth, with 13 products posting double-digit sales and 14 exceeding $1B in annual sales. CEO Robert Bradway and EVP Murdo Gordon attributed gains to expanded patient reach, new indications, and access programs like Amgen Now, with strong momentum in biosimilars, rare disease, and oncology.

Analysts are closely watching Meritide’s late-stage enrollment and regulatory milestones; the impact of biosimilar launches on legacy sales; and adoption of new indications and geographies in rare disease and oncology. Management will also be tested on manufacturing scale-up and execution of pipeline launches.

AMGN closed at $376.15, up from $338.59, reflecting broader market strength. Key dates: February 10, 2026 (analysis based on earnings call and stock price as of publication).

Archer-Daniels-Midland Co. (ADP) reported a fourth-quarter performance weighed by weak global agricultural trade, lower North American exports, and soft packaged food demand, despite record crush volumes in South America and improved manufacturing efficiencies. Insurance proceeds were reduced, offsetting operational gains, as CEO Juan Luciano stressed ongoing cost controls, portfolio optimization, and cash flow generation.

Analysts will closely examine timing and impact of U.S. biofuel policy and RVO mandates, progress in Nutrition segment recovery, especially at Decatur East, and the trajectory of North American agricultural exports and demand for sweeteners and starches. ADP closed at $67.41, in line with $68.08 before the earnings.

The European Court of Justice has sent back to a lower tribunal the appeal by WhatsApp Ireland against a Binding Decision of the European Data Protection Board (EDPB) that ordered the Irish Data Protection Commission to increase its fine to €225 million ($268 million). The penalty stems from a 2020 GDPR investigation into WhatsApp’s data use in Ireland, with the EDPB intervening in 2021. The tribunal previously ruled WhatsApp Ireland lacked standing, but the ECJ said the case is admissible and will be heard on its merits. The DPC has levied over €4 billion in fines since 2020, but collections are limited due to protracted appeals. The case is C-97/23P WhatsApp Ireland v EDPB. (Feb 10, 2026)