🌍 The Global Returns Leaderboard for the week ending in February 6th:

🥉 American Small Caps 🇺🇸 (+2.2%)

🥈 American REITs 🏘 (+3.1%)

🥇 Gold 🥇 (+5.0%)

🔽 Ethereum 🔹 (-23.7%), Bitcoin 🪙 (-16.1%), Chinese Equities 🇨🇳 (-3.9%), Magnificent 7 📹 (-3.4%)

🔼 I N T E L R U N N E R 🔽

🇺🇸 The S&P 500 Equal Weight ETF ($RSP) had its best day against the capitalization-weighted index ($SPY) since 2020.

Breadth has been catching up. This was essentially required to preserve the bull run. Of late, midcaps have been most impressive.

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🇺🇸 The earnings schedule for this week's stock market...

◽️Coca-Cola ($KO) - This is the archetypal consumer staples name. Any hint of pricing power can sway inflation expectations and bond yields.

◽️Unilever ($UL) - A rare large-cap FMCG (fast-moving consumer goods) print—often under-followed, so surprises can be sharp.

◽️McDonald's ($MCD) - Foot traffic metrics and value menu traction are back in focus as inflation cools.

◽️CVS Health ($CVS) - As the largest pharmacy benefits player, CVS is a proxy for healthcare cost trends. A beat could calm worries about medical inflation; a miss may revive rate cut chatter.

◽️AstraZeneca ($AZN) - A data drop on its oncology pipeline could reprice the whole biotechnology complex.

◽️Gilead Sciences ($GILD) - New trial read-outs could shift risk appetite to high-beta names.

◽️TotalEnergies ($TTE) - Brent forecasts and dividend policy could sway these energy equities, which appear poised for outperformance.

◽️Ford Motor ($F) - Ford's hybrid pivot and tariff commentary can move auto cyclicals and the broader industrial sector.

◽️Applied Materials ($AMAT) - A beat-and-raise here would bolster the cap-ex up cycle for next generation chips.

◽️Cisco ($CSCO) - Investors are focused on AI-ready networking demand.

◽️Coinbase Global ($COIN) - Crypto options market price in a heavy move; a beat could boost risk appetite across digital assets.

◽️Robinhood Markets ($HOOD) - A small cap with outsized volatility; any uptick in trading revenue can spark a relief rally in retail brokers.

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🇨🇳 The Chinese Share in Open Al Model Downloads Rises

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🌍 Number of medal events during Olympic Winter Games

🥇 I N T E L R U N N E R 🥈

🇺🇸 CIENA Corp. rejoined the S&P 500 today after 16 years.

Let's hope it goes better than last time it was in the $SPX, when $CIEN fell by 90%. In the interim, it has gained 2,500% in the S&P 400...

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🇺🇸 Record post-2016 levels of short selling across single stocks...

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🇺🇸 Russell 3000 median stock year-over-year earnings growth...

📊 I N T E L R U N N E R 📊

🇺🇸 Microstrategy's debt is holding up just fine...

$STRC is 36 cents shy of par pre-market.

💎 I N T E L R U N N E R 💎

🇺🇸 You have to go back to the wake of the Great Financial Crisis to find small businesses planning less capital expenditure than today.

As usual, everything is set up to place disproportionate stress on small entities.

In the modern world, small business entities are meant to be yoked...

💸 I N T E L R U N N E R 💸

🇨🇦 Canadian Unemployment by Province

Newfoundland is worst off at 9.2%, while Quebec and Saskatchewan have the lowest at 5.2% and 5.3% respectively.

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🇺🇸 Stock Market: Wednesday Morning Performance by Sector

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