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Source document· February 4, 2026

Broader Market Falls as Chipmakers and AI Stocks Tumble

View original at nasdaq.com
Broader Market Falls as Chipmakers and AI Stocks Tumble The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.51%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.53%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.77%…
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  • January ISM services index was unchanged at 53.8, stronger than expectations of decline to 53.5

    80% confidence
  • Q4 adjusted EPS of $2.44

    80% confidence
  • Next week's quarterly refunding will total $125 billion in T-notes and T-bonds sales

    80% confidence
  • 2026 adjusted EPS forecast of $2.90 to $3.00

    80% confidence
  • Q3 net sales forecast of at least $12.30 billion

    80% confidence
  • Q1 sales forecast of $9.8 billion, plus or minus $300 million

    80% confidence
  • Q4 revenue of $19.29 billion

    80% confidence
  • Full-year adjusted EPS forecast of $3.43 to $3.49

    80% confidence
  • S&P earnings growth expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth

    80% confidence
  • Full-year revenue forecast of $80 billion to $83 billion

    80% confidence
  • US companies added 22,000 jobs in January, below expectations of 45,000

    80% confidence
  • Treasury anticipates keeping auction sizes unchanged for nominal notes, bonds, and floating-rate notes for at least the next several quarters

    80% confidence
  • Q1 net sales of $5.80 billion

    80% confidence
  • Q4 revenue of $9.87 billion

    80% confidence
  • BetMGM joint venture had $2.8 billion in net revenue for fiscal year 2025, up +33% y/y

    80% confidence
  • Q1 revenue of $85.93 billion

    80% confidence
  • Excluding the Magnificent Seven megacap technology stocks, Q4 earnings expected to increase by +4.6%

    80% confidence
  • Q1 adjusted EBITDA forecast of $2.37 to $2.47

    80% confidence

Data points we hold from this source

Federal Reserve · 10 year treasury yield4.274 percent
What we know · the intelligence behind this page
Live from the substrate
What we're seeing
Biotech Catalyst Wave: Late-2026 Clinical Readouts, PDUFA Dates and Capital Restructuring
A dense cluster of Q4 2026 to Q1 2027 clinical and regulatory catalysts spans hepatitis delta (Vir's ECLIPSE/SOLSTICE), hypertension and sleep apnea (Mineralys' lorundrostat, PDUFA 2026-12-22), severe hypertriglyceridemia (plozasiran), oncology (ivonescimab BLA, PDUFA 2026-11-14) and gene therapy (Krystal). Positive data flow from AASLD and AHA presentations is offset by cost-cutting guidance, milestones slipping into 2027, and a delisting process that signals capital-market stress for some issuers. Near-term value hinges on binary FDA decisions and Phase 3 topline readouts in Q1 2027.
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Signals we're tracking
EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
Patterns we're watching ›
Where sources disagree
Ford Motor Company
Both facts give cash for Ford Motor Company at the same point in time (2025-12-31; FY 2025 year-end and Q4 2025 year-end are the same date). Both are labelled USD, but the values are 23,356,000,000 and 23.356, which cannot both be true in USD. The two numbers agree once the second is read as billions (23.356 bn = 23,356,000,000), so the economic content is consistent and the conflict is a unit/scale error in the Q4 2025 record. The period is not the reason for the conflict: a Q4 and an FY figure at the same year-end date should match.
We flag conflicts openly ›
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