Business
5 world market themes for the week ahead
Markets will hope for signs of the former from consumer bellwether Walmart‘s results, while European miners’ earnings face plenty of the latter in commodity markets. Leading economic indicators and UK data are trickling in through the week and Indonesia faces a critical central bank decision.
WELCOME TO THE CLUB
Fresh off hitting $1 trillion in market cap, Walmart will post quarterly results that offer a glimpse into consumer spending in the wake of mixed signals from U.S. economic data.
Walmart’s report on Thursday comes after recent data showed December U.S. retail sales were unexpectedly flat, potentially setting consumer spending on a slower growth path heading into 2026, though a surprisingly strong employment report for January eased some concerns about economic weakening.
Walmart precedes a bevy of reports from other retailers in the coming weeks, including Home Depot, Lowe’s and Target. Economic reports in the coming week include the advance reading of fourth-quarter GDP, a monthly consumer sentiment survey, and the personal consumption expenditures price index, a key inflation measure.
HEAVY METAL Europe’s four largest mining companies – Rio Tinto, Glencore, Anglo American and Antofagasta – are reporting earnings in the coming week, at a time when some of the metals they mine have scaled new price peaks.
Copper, gold, silver and other precious metals all recently hit records – but the relentless rally seen during January has been more sporadic this month.
The demand picture for metals is well known. Data centres need copper, as does the grid infrastructure needed to power the AI build-out. U.S. political uncertainty and worries about the independence of the Federal Reserve have propelled gold – and to some extent silver – higher.
That surge has seen the four companies’ market value jump by more than $65 billion since the start of the year, despite the abandoned merger between Glencore and Rio Tinto. The group’s earnings could determine if that continues.
FLASH – AAH!
A lot of the uncertainties that plagued companies around the world, from Europe to the engines of “Factory Asia”, this time last year – namely, U.S. tariffs – have not exactly gone away, but they’re a lot more in hand.
And this is showing up in global surveys of business activity, which in January showed a pickup in most major economies.
Services are gathering momentum as price pressures continue to subside, while manufacturing is acting as more of a drag. The surveys don’t just tell investors what has happened. Sub-indexes on new orders, employment and pricing all give a sense of how companies are preparing for the months ahead.
With a lot of questions hanging over longer-term job security and company bottom lines from the rollout of artificial intelligence right now, investors may scour February’s flash purchasing managers’ surveys more closely than usual.
JOBS, PRICES AND DROWNING STREET
UK labour market data and inflation readings will provide fresh fodder for markets, even though investors are still digesting the fallout from the recent instability at the heart of Prime Minister Keir Starmer’s government.
Labour market numbers due on Tuesday will show if a gradual cooling of wage growth – closely watched by the Bank of England – has continued.
Attention shifts to January inflation data on Wednesday. The reading rose to 3.4% in December, down from a peak of over 11% in 2022 but still the highest in the Group of Seven economies. While lower energy prices coming into effect in April should help drag inflation closer to the BoE’s 2% target, much of that slowdown is due to one-off factors.
With political turmoil creating a febrile backdrop for sterling and gilts, markets will be sensitive to data shifts, while Fitch is due to review its UK rating on Friday.
STERN WARNINGS
Bank Indonesia’s policy meeting on Thursday will be closely watched by investors after MSCI threatened a downgrade to frontier market status last month, triggering a $80 billion wipeout – the country’s worst rout since the Asian financial crisis in 1998.
Soon after, Moody’s cut the country’s credit rating outlook, while rival benchmark compiler FTSE said it would postpone a scheduled index review.
The central bank could resume its easing cycle after cutting interest rates by a total of 150 basis points between September 2024 and September 2025.
Elsewhere, on Wednesday, the Reserve Bank of New Zealand will announce the first monetary policy decision since Governor Anna Breman joined from Sweden’s Riksbank in December. Breman is expected to hold rates, but growth has rebounded sufficiently quickly that her next move is expected to be a hike – perhaps as soon as September.
On Friday, MCX silver futures for March 5, 2026 rose 3.62%, up Rs 8,564 to Rs 2,44,999 per kg. Gold futures for April also edged higher by Rs 305, or 0.2%, to Rs 1,56,200 per 10 grams.
In international commodity markets, precious metals rebounded sharply after the previous session’s selloff, with spot silver rising 2.1% to $77.27 per ounce, recovering from an 11% plunge a day earlier. Spot gold also advanced 2.33% to $5,063 and is now up more than 1% for the week. The recovery comes after bullion dropped nearly 3% on Thursday, slipping to its lowest level in almost a week.
The U.S. Consumer Price Index rose 0.2% in January, below economists’ expectations of a 0.3% increase, following an unrevised 0.3% gain in December, the Labor Department said.
Gold, silver levels for Monday
MCX Gold continues to exhibit structural resilience despite global consolidation, supported by relative firmness in USD/INR. The Rs 1,50,000 support band remains a strong demand absorption zone, attracting both physical buying and investment flows, reinforcing the integrity of the medium-term rising channel.
“Price behavior at lower levels indicates accumulation rather than distribution. A sustained move above Rs 1,60,000 would likely re-ignite bullish momentum toward Rs 1,65,000–Rs 1,70,000+, while meaningful downside risk remains limited unless COMEX gold breaches its structural support clusters decisively,” Ponmudi R, CEO of Enrich Money said. MCX Silver continues to build a durable base within the Rs 2,33,000–Rs 2,35,000 structural support zone. Price action reflects gradual absorption, with downside momentum notably weaker compared to the prior week’s volatility spike. Volatility compression at these levels signals accumulation rather than liquidation.
A decisive breakout above Rs 2,65,000 would likely attract momentum participation, targeting Rs 2,80,000+ in the medium term, supported by tightening global supply dynamics and steady industrial offtake.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
In the past 24 hours, Bitcoin and Ethereum went up 3.73% and 5.51% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained upto 8%. The global crypto market capitalisation went up 3.52% to $2.36 trillion, according to CoinMarketCap.
Also Read | HDFC Defence Fund exists this small cap stock that went up by 500% in 5 yearsRiya Sehgal, Research Analyst, Delta Exchange said Bitcoin has recovered to around $68,800, holding above its short-term support but still capped below the 50-day EMA near $69,500 and Ethereum mirrors this setup, hovering around $2,050 and consolidating between $1,950 and $2,100.Sehgal further said that broader sentiment remains cautious as traders assess macro liquidity conditions and capital rotation into traditional safe-haven assets such as gold. The market appears to be transitioning from distribution toward early accumulation, but conviction remains fragile pending a clear breakout above key technical levels
In the past week, Bitcoin and Ethereum were down by 2.66% and 1.31% respectively. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Cardano, and Hyperliquid went down over 6% whereas Tron gained 2.50%.
Also Read | Starting out in mutual funds? Here’s how to allocate your investmentsNischal Shetty, Founder, WazirX said Bitcoin trades at $68,882, holding steady as global macro catalysts begin to align. January CPI data showed US inflation moderating to 2.4%, easing inflation concerns. When inflation concerns cool, it reduces uncertainty around aggressive rate hikes and brings stability back into risk assets, including crypto.
Ethereum also reclaimed the $2,000 level after a significant drop in futures open interest, indicating that further excessive leverage has been flushed out, Shetty further said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Commerce Bancshares EVP Barth sells $410k in stock
Trucking and transport stocks had one of their worst days ever Thursday thanks to a firm that until recently was in the karaoke business.
The Florida firm, formerly the Singing Machine Co. RIME 222.22%increase; green up pointing triangle and now known as Algorhythm Holdings, published a news release shortly before stock trading opened touting AI technology capable of increasing trucking efficiencies. Algorhythm, which has a stock market value of less than $3 million, hasn’t landed any software clients in the U.S. yet. But its announcement nonetheless rattled the market.
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Terex corp president Virnig sells $1m in shares
TotalEnergies: LNG Exposure And AI Power Demand Offer Structural Growth
VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.
Riley Exploration Permian CIO sells $95,941 in shares
Company Participants
Cassie Corneau – Manager of Investor Relations & Strategic Finance
Serge Saxonov – Co-Founder, CEO & Director
Adam Taich – CFO, Treasurer, Principal Financial Officer & Principal Accounting Officer
Conference Call Participants
Tycho Peterson – Jefferies LLC, Research Division
Douglas Schenkel – Wolfe Research, LLC
Puneet Souda – Leerink Partners LLC, Research Division
Daniel Arias – Stifel, Nicolaus & Company, Incorporated, Research Division
Kyle Mikson – Canaccord Genuity Corp., Research Division
Daniel Brennan – TD Cowen, Research Division
Patrick Donnelly – Citigroup Inc. Exchange Research
Mason Carrico – Stephens Inc., Research Division
Subhalaxmi Nambi – Guggenheim Securities, LLC, Research Division
Lu Li – UBS Investment Bank, Research Division
Michael Ryskin – BofA Securities, Research Division
Salem Salem – Barclays Bank PLC, Research Division
Casey Woodring – JPMorgan Chase & Co, Research Division
Matthew Larew – William Blair & Company L.L.C., Research Division
Presentation
Operator
Thank you for standing by. My name is Karli, and I will be your conference operator today. At this time, I would like to welcome everyone to the 10x Genomics Fourth Quarter and Full Year 2025 Earnings Call. [Operator Instructions]
I would now like to turn the call over to Cassie Corneau, Senior Director, Investor Relations and Strategic Finance. Please go ahead.
Cassie Corneau
Manager of Investor Relations & Strategic Finance
Thank you, and good afternoon, everyone. Earlier today, 10x Genomics released financial results for the fourth quarter and full year ended December 31, 2025. If you have not received this news release or would like to be added to the company’s distribution list, please send an e-mail to investors@10xgenomics.com.
An archived webcast of this call will be available on the Investor tab of the company’s website, 10xgenomics.com, for at least 45 days following this call.
Before we begin, I’d like to remind you
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![Heathrow has said passenger numbers were 60% lower in November than before the coronavirus pandemic and there were “high cancellations” among business travellers concerned about being trapped overseas for Christmas as Omicron spreads. The UK’s largest airport said the government’s travel restrictions had dealt a fresh blow to travel confidence and predicted it was likely to take several years for passenger numbers to return to pre-pandemic levels. This week ministers said passengers arriving in the UK would have to take a pre-departure Covid test, as well as a post-flight test, because of fears about the spread of the new variant. “[The] high level of cancellations by business travellers concerned about being trapped overseas because of pre-departure testing shows the potential harm to the economy of travel restrictions,” the airport said in an update. Heathrow said the drop in traveller confidence owing to the new travel restrictions had negated the benefit of reopening the all-important corridor to North America for business and holiday travel last month. Eleven African countries have been added to the government’s red list, requiring travellers to quarantine before reuniting with families. “By allowing Brits to isolate at home, ministers can make sure they are reunited with their loved ones this Christmas,” said John Holland-Kaye, the chief executive of Heathrow. “It would send a strong signal that restrictions on travel will be removed as soon as safely possible to give passengers the confidence to book for 2022, opening up thousands of new jobs for local people at Heathrow. Let’s reunite families for Christmas.” Heathrow said that if the government could safely signal that restrictions would be lifted soon, then employers at Heathrow would have the confidence to hire thousands of staff in anticipation of a boost in business next summer. The airport is expecting a slow start to 2022, finishing next year with about 45 million passengers – just over half of pre-pandemic levels. This week Tui, Europe’s largest package holiday operator, said it expected bookings for next summer to bounce back to 2019 levels. However, Heathrow said on Friday not to expect the aviation industry to recover for several years. “We do not expect that international travel will recover to 2019 levels until at least all travel restrictions (including testing) are removed from all the markets that we serve, at both ends of the route, and there is no risk of new restrictions, such as quarantine, being imposed,” the airport said.](https://wordupnews.com/wp-content/uploads/2026/02/shutterstock_1100012546-scaled-400x240.jpg)
![Heathrow has said passenger numbers were 60% lower in November than before the coronavirus pandemic and there were “high cancellations” among business travellers concerned about being trapped overseas for Christmas as Omicron spreads. The UK’s largest airport said the government’s travel restrictions had dealt a fresh blow to travel confidence and predicted it was likely to take several years for passenger numbers to return to pre-pandemic levels. This week ministers said passengers arriving in the UK would have to take a pre-departure Covid test, as well as a post-flight test, because of fears about the spread of the new variant. “[The] high level of cancellations by business travellers concerned about being trapped overseas because of pre-departure testing shows the potential harm to the economy of travel restrictions,” the airport said in an update. Heathrow said the drop in traveller confidence owing to the new travel restrictions had negated the benefit of reopening the all-important corridor to North America for business and holiday travel last month. Eleven African countries have been added to the government’s red list, requiring travellers to quarantine before reuniting with families. “By allowing Brits to isolate at home, ministers can make sure they are reunited with their loved ones this Christmas,” said John Holland-Kaye, the chief executive of Heathrow. “It would send a strong signal that restrictions on travel will be removed as soon as safely possible to give passengers the confidence to book for 2022, opening up thousands of new jobs for local people at Heathrow. Let’s reunite families for Christmas.” Heathrow said that if the government could safely signal that restrictions would be lifted soon, then employers at Heathrow would have the confidence to hire thousands of staff in anticipation of a boost in business next summer. The airport is expecting a slow start to 2022, finishing next year with about 45 million passengers – just over half of pre-pandemic levels. This week Tui, Europe’s largest package holiday operator, said it expected bookings for next summer to bounce back to 2019 levels. However, Heathrow said on Friday not to expect the aviation industry to recover for several years. “We do not expect that international travel will recover to 2019 levels until at least all travel restrictions (including testing) are removed from all the markets that we serve, at both ends of the route, and there is no risk of new restrictions, such as quarantine, being imposed,” the airport said.](https://wordupnews.com/wp-content/uploads/2026/02/shutterstock_1100012546-scaled-80x80.jpg)
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