Up:

CoreWeave +26.32% : Shares of the AI cloud operator jumped after Goldman Sachs initiated coverage and Moody’s highlighted a $3 trillion data-center spending boom, reinforcing long-term AI infrastructure demand.

Oxford Biomedica +12.6%: The British company confirmed midweek that it had been approached for a takeover by the major Swedish fund EQT. A cash offer could be made by February 11, the deadline for the initiator, which has already been rejected once.

Uranium Energy +21.07% : The uranium producer surged to new highs as AI-driven electricity demand and strong U.S. government support boosted the nuclear sector.

Moderna +21.95% : The mRNA vaccine maker raised its 2025 revenue outlook and lowered expense guidance.

KLA Corp.+11.99% : Shares of the semiconductor equipment supplier soared following strong earnings from key customer TSMC and a bullish analyst upgrade.

Down:

Intuit:-15.71%: The tax-software provider revealed a new $2.2 billion credit facility and received a cautious Goldman Sachs initiation ahead of tax season.

Dunelm -19%: The British furniture retailer issued a profit warning after poor end-of-year sales. The stock fell nearly 20% on Thursday alone. In the wake of the announcement, Panmure Liberum downgraded its recommendation from neutral to sell, lowering its valuation from GBX 1,130 to GBX 995.

Affirm -8.61%: Shares of the buy-now-pay-later lender slipped after early gains tied to a proposed cap on credit-card interest rates faded.

Salesforce -12.63%: The enterprise software giant plunged amid fears that new “agentic” AI tools could disrupt traditional SaaS platforms.

Biogen -12.37%: The biotech drugmaker posted preliminary quarterly earnings that missed expectations due to large R&D-related charges.

Energy: The oil market ended the week on a mixed note after a period of high volatility. While prices rose at the beginning of the week due to geopolitical tensions, the trend reversed on Thursday. The price of a barrel of North Sea Brent crude fell to around $64.50, while US WTI traded at around $59.70. This decline in prices was the result of easing fears about supply in the Middle East. Donald Trump said that the violence in Iran had stopped, which reduces the likelihood of immediate US military intervention. Investors are therefore withdrawing the risk premium they had factored in due to threats to Iranian production (3.2 million barrels per day) and the Strait of Hormuz. The geopolitical risk premium is fading, but it has not disappeared. Ukraine continues to target Russian energy infrastructure, particularly platforms in the Caspian Sea. At the same time, Washington is considering tougher sanctions against countries that import Russian energy. In Venezuela, the US is maintaining maximum pressure on Caracas. US forces seized a sixth tanker, the Veronica, in the Caribbean.

Metals: Gold and silver hit new highs before falling back at the end of the week. Gold reached a record high of $4,650 per ounce on Wednesday. The yellow metal benefited from its status as a safe haven. Investors are concerned about multiple geopolitical tensions (Venezuela, Greenland, Iran) and threats to the independence of the US Federal Reserve. But it is clear that the pressure is easing. President Donald Trump has adopted a more moderate tone regarding Iran and Jerome Powell. At the same time, stronger-than-expected US employment figures have strengthened the dollar, weighing on gold denominated in greenbacks. As for silver, volatility remains very high. Silver jumped to a record high of $93.50 per ounce before falling sharply to around $88.50. The gray metal has performed remarkably well, rising 20% since the beginning of the year. Finally, on the London Metal Exchange (LME), copper hit a record high of $13,407 on Wednesday before correcting to around $13,100.

Agricultural products: The latest report from the U.S. Department of Agriculture (USDA) weighed on prices. The agency revised its production and stock estimates for the 2025/2026 season upwards, confirming a well-supplied market. Wheat lost ground to 515 cents, as did corn to 421 cents per bushel (March 2026 contracts).

Macro: Structural supports for growth remain in place: fiscal stimulus on the horizon, the Fed in a cycle of rate cuts and explicit quantitative easing, all aided by strong productivity gains. Consumption remains solid despite a stagnant labor market, which is not showing any signs of significant deterioration. After the temporary effect of tariffs, US inflation is returning to its target of 2.6-2.7%, with a gradual decline in real rents. The only potential downside is that the midterm elections could generate volatility with a significant risk of correction, amplified by Trump's political initiatives. Despite this, bond yields are stable, with the 10-year US Treasury still trading within a narrow range of 4.10% to 4.20%.

Crypto: Bitcoin soared 5% this week, climbing back above the USD 95,000 mark. This surge is directly reflected in spot Bitcoin ETFs in the United States, which recorded more than USD 1.7 billion in net inflows over the week, a level not seen since October 2025. Several catalysts are behind this rise. Morgan Stanley has filed applications with the SEC to launch spot Bitcoin and Solana ETFs. This is the first attempt by a major investment bank. For its part, MSCI has decided, for the time being, not to exclude companies with significant exposure to cryptocurrencies, such as Strategy, from its major indices. These announcements have reignited bullish speculation on bitcoin and, by extension, on the entire crypto market: ether (ETH) is up 5.7% since Monday, Solana (SOL) is up 2.3%, while Binance Coin (BNB) is up 3.23%.