Breakfast News: Metals Meltdown Mauls Markets

Breakfast News: Metals Meltdown Mauls Markets

February 2, 2026

Source: Image created by Jester AI.

1. Markets Hit as Gold and Silver Slide

S&P 500 and Nasdaq futures fell this morning, by 0.8% and 1% respectively, as the ongoing gold and silver sell-off rattles markets – with little cheer expected from the January jobs report due Friday. After President Trump announced Kevin Warsh to replace Federal Reserve chair Jerome Powell Friday, expectations are growing of two interest rate cuts this year.

• Gold down 9% on the week: Silver fell this morning to 35% below its high point of last week, while Bitcoin (CRYPTO:BTC) dropped below $75,000 this morning. Both recovered some ground as the morning progressed.
• S&P 500 up 0.3% last week, +1.4% in January: As earnings season progresses, highlighting tech stocks, the Nasdaq dipped 0.2% last week but still gained 1% over the month. The S&P 500 is still up 87% over five years.

2. Disney Reports 5% Q1 Revenue Rise

Recommended in Stock Advisor by Team Rule Breakers, Disney (DIS 0.81%) reported $26 billion revenue in Q1 this morning, pushing the stock up close to 4% in early trade, with subscription and streaming services leading with 11% growth. It follows record theme park results in 2025.

• Earnings per share down 4.3%: The quarter’s earnings fall extended the 3% drop in the final quarter of fiscal 2025, as management expects to see operating income growth in the current year weighted toward the second half.
• Josh D’Amaro to take over as chief executive officer?: After The Wall Street Journal said Friday that CEO Bob Iger plans to step down before the end of his term in December, Bloomberg reports the board is closing in on theme-park division chairman D’Amaro for the top job.

3. Today’s Key Updates From Popular Fool Stocks

• Idexx (IDXX 1.70%) followed up its 13% revenue rise in Q3, as the_ Stock Advisor_ recommendation and veterinary diagnostics specialist posted a further 14% YoY revenue increase in Q4 this morning, sending the shares up around 3% in pre-market trading. International revenue again led the way, up 17%.
• NXP Semiconductors (NXPI 4.09%), recommended in Rule Breakers, will report Q4 after the market closes, as analysts predict a 6.5% revenue rise YoY – more than reversing the 2.5%YoY dip recorded in Q3.
• Simon Property (SPG 3.08%), a Dividend Investor rec, also reports after today’s closing bell. The rental real estate operator saw revenue increase 8.1% YoY in the previous quarter and lifted the dividend 4.8%. There’s a 4.6% yield forecast for the full year.

4. The Pick of the Week’s Q4 Results

• Alphabet (GOOG 0.87%) and Amazon (AMZN 2.61%) continue Mag 7 reporting season, with updates Wednesday and Thursday respectively. Investors have their eyes on Google Cloud infrastructure expansion, and on Amazon Web Services after ad revenue beat $60 billion last year.
• AMD (AMD 3.46%) precedes those two with results due after Tuesday’s close. AMD expects the data center chip market to reach $1 trillion by 2030, and wants a double-digit share of it.
• PayPal (PYPL 1.32%) will report before the market opens Tuesday, as the Hidden Gems rec looks to prioritize AI-based spending developments in 2026.

5. Your Take

Disney’s multi-generational appeal means parents who grew up with Disney introduce it to their kids.

How much value do you place on nostalgia and emotional connection as competitive advantages, and can they overcome operational challenges?

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