Major U.S. stock indices advanced on Monday, with the Dow Jones Industrial Average achieving a fresh all-time high. The market continued its recovery from last Thursday's significant sell-off as investors awaited key economic data and a new batch of corporate earnings reports.
At market close, the Dow Jones gained 20.20 points, or 0.04%, to finish at 50,135.87. The Nasdaq Composite climbed 207.46 points, or 0.90%, settling at 23,238.67, while the S&P 500 index rose 32.51 points, or 0.47%, closing at 6,964.81. Notable gainers included Nvidia (NVDA.US), up 2.5%, Microsoft (MSFT.US), which advanced 3%, and Oracle (ORCL.US), surging over 9%. The Nasdaq Golden Dragon China Index closed slightly higher, up 0.12%, although Li Auto (LI.US) declined by 3%.
In European markets, the German DAX 30 index increased by 284.52 points, or 1.15%, to 25,004.32. The UK's FTSE 100 added 15.84 points, or 0.15%, closing at 10,385.59. France's CAC 40 rose 49.44 points, or 0.60%, to 8,323.28. The Euro Stoxx 50 index advanced 60.96 points, or 1.02%, finishing at 6,059.36. Spain's IBEX 35 jumped 244.61 points, or 1.36%, to 18,187.91, and Italy's FTSE MIB index surged 923.30 points, or 2.01%, to 46,800.50.
In the cryptocurrency market, Bitcoin hovered near the $70,000 mark. Ethereum saw an increase of over 1.4%, reaching $2,117.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.84% to settle at 96.814. By the end of New York trading, one euro was worth $1.1921, up from $1.1819 in the previous session. One pound sterling traded at $1.3699, higher than the prior session's $1.3616. The dollar bought 155.68 Japanese yen, down from 157.10 yen, and exchanged for 0.7660 Swiss francs, a decrease from 0.7754 francs. It also traded at 1.3557 Canadian dollars, down from 1.3658, and 8.9094 Swedish krona, lower than the previous 9.0201 krona.
In precious metals, spot gold rose 1.89% to $5,060.26 per ounce. Spot silver was priced at $83.4 per ounce.
Oil prices also moved higher. The March delivery contract for West Texas Intermediate crude gained 81 cents, or 1.27%, settling at $64.36 per barrel. The April contract for Brent crude increased by 99 cents, or 1.45%, closing at $69.04 per barrel.
In macroeconomic developments, the United States announced a reduction in tariff rates for Bangladesh and granted full exemptions for certain textiles. Following a reduction from 37% to 20% last year, the overall tariff rate for Bangladesh will be lowered to 19%. The agreement also permits full tariff exemptions for specific textile products. In return, Bangladesh will provide preferential market access for U.S. industrial and agricultural goods, covering sectors such as chemicals, medical devices, auto parts, energy, and farm products. Bangladesh has also committed to addressing non-tariff barriers that restrict U.S. goods, including accepting vehicles compliant with U.S. regulations and pharmaceuticals approved by the U.S. government. Additionally, the two nations are expected to finalize several commercial agreements, involving aircraft procurement, the purchase of $3.5 billion in U.S. agricultural products, and energy procurement totaling $15 billion over the next 15 years.
Reports indicate that the U.S. has quietly built up its largest copper stockpile in decades. Concerns that import tariffs on refined copper might be imposed have prompted traders to rush shipments into the country. Data shows U.S. copper imports reached 1.7 million tons last year, nearly double the previous year's volume. Inventories of copper held in exchange-approved warehouses to support CME Group's Comex futures contracts have surged significantly since early 2025. As of February 6, Comex copper stocks stood at approximately 534,405 tons, a more than fivefold increase from a year ago and the highest level since records began in 1989. Including over-the-counter inventories, BMO Capital Markets estimates total U.S. copper reserves are around 1 million tons, roughly equivalent to the annual output of the world's largest copper mine, Chile's Escondida. This stockpile could meet U.S. demand for approximately seven months.
U.S. Commerce Secretary is facing bipartisan calls for his resignation after being named in recently released documents related to Jeffrey Epstein. A Democratic senator accused the Secretary of "lying" about the extent of his relationship with Epstein. While the Secretary previously attempted to downplay their association, the newly released documents suggest continued contact. Several lawmakers have demanded his immediate resignation. The Republican chairman of the House Oversight Committee leading the Epstein investigation has not ruled out issuing a subpoena to the Secretary but indicated the committee's current priority is enforcing existing subpoenas.
Following a tumultuous Monday spent fighting to retain his position, the UK Prime Minister has temporarily solidified his standing. After securing public support from his entire cabinet, including potential rivals, the Prime Minister appears secure for the short term. However, the subdued nature of support from some colleagues suggests underlying challenges remain. An ally noted that a "silent majority" within the governing party does not wish for a leadership change.
In corporate news, Alphabet's (GOOG.US, GOOGL.US) U.S. dollar bond issuance is expected to reach $20 billion, exceeding initial projections of $15 billion. The pricing spread for the longest-dated bond, maturing in 2066, tightened during the offering. Alphabet stated last week that its capital expenditures for the year could reach as high as $185 billion, surpassing the total spent over the past three years, with the bulk directed towards expanding data centers to support its artificial intelligence ambitions.
Separately, the CEO of Tesla (TSLA.US) announced that SpaceX is shifting its near-term priority from Mars to building a "self-growing city" on the Moon, citing a shorter timeline and strategic urgency. He stated that a lunar city could be achievable within a decade, compared to over two decades for Mars, due to more frequent launch opportunities and faster transit times. This marks a significant change from his previous public focus on Mars as the primary goal for SpaceX.
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