Mon 3 FEB

•Earnings: Palantir (PLTR), NXP Semi (NXPI), Posco.

TUE 4 FEB

•Earnings: Google (GOOGL), Merck (MRK), PayPal (PYPL), Spotify (SPOT), Pfizer (PFE), PepsiCo (PEP), AMD (AMD), UBS, Snap (SNAP), MUFJ, Nintendo, Mitsui, Mitsubishi Heavy.

WED 5 FEB

•Earnings: Uber (UBER), Disney (DIS), Novo Nordisk (NVO), Ford (F), Qualcomm (QCOM), ARM, Toyota.

THU 6 FEB

•Earnings: Eli Lilly (LLY), Amazon (AMZN), Cloudflare (NET), Tokyo Electron.

•The Bank of England is expected to cut rates by 25bps.

FRI 7 FEB

•Earnings: Alibaba (9988/ BABA) , MediaTek (2454).

•USnonfarm payroll (NFP) where 150k jobs are expected to be created. The unemployment rate is expected to remain unchanged at 4.1%.

10 THEMES 十大关键趋势

1) Technology is eating the world 科技正在吞噬世界

• Agentic AI + Reasoning + Rich Simulations + Embodied AI = Industry 6.0 which is minimizing human intervention.
• Beneficiaries -Tech Hardware, Semis, Telecom Equipment, Cloud.

2) Peak Monopoly 垄断顶峰

• Dominance of the Magnificent 7 peaks as AI benefits broaden & politics pressures mega-caps via taxation and regulation.
• Beneficiaries -Equal-weighted equity indices, Value stocks, International stocks.

4) More Resources资源饥渴症

5) Rebuilding Everything 全球重建潮

6) The End of ABB 债券复兴

7) Populism 民粹主义浪潮

8) War & Peace 战争与和平

9) Gen X & Aging Z世代和婴儿潮一代崛起

10) Health The New Wealth 健康即财富