February 2, 2026 Market Moment

Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®

2/2/2026

Precious metals plunged after markets reacted to President Trump’s selection of Kevin Warsh as Fed chair, boosting the dollar and driving silver down 31% (its second-worst day ever) and gold down 11%, their worst one-day declines since 1980. *1
A global survey of more than 4,000 CEOs found AI adoption has seemingly delivered limited measurable benefits to corporations so far, with 56% reporting neither higher revenues nor lower costs. 2
U.S. pending home sales fell 9.3% in December, the largest monthly decline since April 2020, with non-seasonally adjusted sales hitting a record low and the Midwest seeing the biggest drop. 2
Last Friday, Microsoft stock dropped nearly 10%—its worst day in over 12 years—as investors questioned whether Azure, the company’s cloud computing and AI platform, is growing fast enough to justify Microsoft’s heavy spending on artificial intelligence. *3

WSJ – “Heard on the Street: Silver Scream”
MFS – “Beyond the News”
MarketWatch – “Buy Microsoft’s Stock While It’s Down? First Ask Yourself This Question”

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only

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