🔥 Market Snapshot: Metals Crash, AMZN Plunge & $717M Deal | Feb 6, 2026

A brutal Friday sees a flight from last month's winners. The precious metals rally has decisively reversed, a tech giant stumbles on spending fears, while a Chinese deal and a surprise profit alert grab attention.

📉 Hot Topics: Metals Meltdown & M&A

• Precious Metals Rout: The sell-off intensified after the CME Group hiked margin requirements for gold and silver futures. Year-to-date gains for silver have been completely erased, with spot prices continuing their fall.
• Weight-Loss Drug Price War: Telehealth firm $Hims & Hers Health(HIMS.US) launched a generic weight-loss drug for just $49, applying significant competitive pressure on the sector.
• Major M&A: $MEITUAN(03690.HK) announced plans to acquire grocery delivery firm Dingdong for $717 million, consolidating the local commerce sector.

📊 Earnings Digest: A Tale of Extreme Reactions

• $Amazon(AMZN.US) Plunges: Shares slid over 11% post-market after Q4 earnings missed profit estimates. Fears over its $200 billion annual capital expenditure plan spooked investors.
• $NIO(NIO.US) Surges on Profit Milestone: The EV maker rose nearly 6% after issuing a Q4 profit alert, signaling its first-ever quarterly adjusted operating profit.
• $Qualcomm(QCOM.US) Extends Losses: Shares fell another 8%+ on weak Q2 guidance, as its phone chip business faces ongoing supply chain headwinds.
• Healthcare Slump: $Novo Nordisk AS(NVO.US) and $Eli Lilly(LLY.US) both dropped over 8%, weighed down by the new competitive threat from $Hims & Hers Health(HIMS.US).

🚀 IPO & Listings Watch (Hong Kong)

• Listing Today: $MUYUAN(02714.HK) debuts on the mainboard.
• Recent Listings: $HANS CNC(03200.HK) priced at the top of its range (HK$95.80), while $DISTINCT HEALTH(02677.HK) priced within its range.
• Grey Market Activity: $MONTAGE TECH(06809.HK) sees active grey market trading ahead of its official listing.