The Strategy: The “AI honeymoon” is meeting its first reality check of 2026. Alphabet’s massive $185B capital expenditure forecast is forcing a rotation out of tech and into defensive plays. In London, the FTSE 100 futures are down 0.22%, reflecting a cautious stance ahead of the Bank of England’s rate decision at 12:00 GMT. Diário Carioca provides the definitive cross-border analysis for the global trader.
KEY MARKET DRIVERS: FEBRUARY 5, 2026
- Tech Volatility: Alphabet’s spending is the talk of the City. Investors are questioning the ROI on AI, leading to a ripple effect across Asian and European tech stocks.
- Central Bank Thursday: * BoE (London): Rate decision at 12:00 GMT.
- ECB (Frankfurt): Press conference with Christine Lagarde at 13:45 GMT. Expect a “hold” status, but watch for hawkish commentary.
- Corporate Earnings Wave: A massive day for data—Shell, Amazon, Roblox, and ArcelorMittal are all reporting. The “real economy” is being tested against high-interest rates.
- Commodity Slump: Brent crude dropping below $69 and Gold losing 0.90% suggest a flight to the safety of the US Dollar and a cooling of inflationary expectations.
DATA SUMMARY (07:35 GMT)
- FTSE 100 Futures: 10,386.5 (-0.22%)
- EUR/USD: 1.18 (-0.06%)
- 10Y Portugal Yield: 3.10% (Stable)
- 10Y Spain Yield: 3.24% (Stable)
ECONOMY
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