Moe’s Market Memo – February 6, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
AI in Space?
On Monday, SpaceX Founder and CEO Elon Musk announced that it has acquired AI startup, xAI s part of efforts to build data centers in space. The deal is valued at approximately $1.25 trillion, with SpaceX at $1 trillion and xAI at $250 billion. This acquisition marks the largest M&A deal on record.1
Preciously Precious
On Tuesday, gold and silver prices rebounded after a historical drop. Last Friday, gold fell nearly 10% and silver declined about 30%, marking their worst one-day performance since 1980. Mining stocks and ETF’s also rose alongside the bounce back in precious metals.2
India Trade Deal
Earlier this week, President Trump announced that the U.S. and India have reach an agreement on a trade deal aimed at lowering tariffs goods between the two countries. According to Trump in a post on Truth Social, India will stop buying Russian oil and instead purchase more from the United States and potentially Venezuela. It was said that the reciprocal tariff rate on India will be brought down to 18%, “effective immediately.”3
Shutdown the Shutdown
The Republican-controlled House of Representatives narrowly approved a bipartisan funding by a 217-214, vote ending a partial U.S. government shutdown and restoring funding for most federal agencies. The package would finance most of the government through September 30th and temporarily extend funding for the Department of Homeland Security.4
Bitcoin Dip
On Tuesday, Bitcoin dropped below $73,000, marking its lowest price since November 2024. The cryptocurrency sank to a low of $72,884.38, a decline of more than 6% decline on the day. Bitcoin is now down 16% year to date, as are investors continuing to move out of risk-on assets in light of the growing geopolitical concerns.5
We Watch for the Commercials
Super Bowl 60 kicks off this Sunday, February 8th. The price for a 30-second advertisement is nearing $8 million dollars this year, an all-time high and a significant increase from the $37,500 price tag for an ad during Super Bowl I in 1967.6
[1] Wang, E., & Roulette, J. “SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions.” Reuters, 4 February 2026, https://www.reuters.com/business/musks-spacex-merge-with-xai-combined-valuation-125-trillion-bloomberg-news-2026-02-02/. Accessed 4 February 2026.
[2] Lee Ying Shan & Taylor, Chloe. “Gold and silver rebound, pulling global mining stocks and precious metal ETFs higher.” CNBC, 2 February 2026, https://www.cnbc.com/2026/02/03/gold-and-silver-rebound-after-historic-wipeout-as-analysts-say-thematic-drivers-stay-intact-.html. Access 4 February 2026.
[3] Breuninger, Kevin. “Trump says U.S. and India reached trade deal, will lower tariffs immediately.” CNBC, 2 February 2026, https://www.cnbc.com/2026/02/02/trump-india-trade-deal-tariffs.html. Accessed 4 February 2026.
[4] Cowan, Richard & Morgan, David. “US House narrowly advances Trump-backed deal to end shutdown.” MSN, 2 February 2026. https://www.msn.com/en-us/news/politics/us-house-narrowly-advances-trump-backed-deal-to-end-shutdown/ar-AA1VAS7j?ocid=entnewsntp&pc=U531&cvid=69824927d1a349b08a828412f6f5df21&ei=13. Accessed 4 February 2026.
[5] Napolitano, Liz. “Bitcoin briefly breaks below $73,000 to lowest since November 2024 as heavy selling resumes.” CNBC, 3 February 2026, https://www.cnbc.com/2026/02/03/bitcoin-price-today.html. Accessed 4 February 2026.
[6] Yomtov, Jesse. “How much does a Super Bowl commercial cost? Prices hit historic highs.” USA Today, 15 January 2026. https://admeter.usatoday.com/story/sports/ad-meter/2026/01/15/super-bowl-commercial-cost-how-much-2026/88203512007/. Accessed 4 February 2026.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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