It's 5 AM in New York City. Good morning. I'm Vonnie Quinn with your Bloomberg Brief.Let's get you set up for the day. Future is higher right now. The nasdaq 100, though, set for the worst week since april.Bitcoin bouncing back to a certain extent. This has a busy week of big tech earnings shows massive spending plans for A. I.The latest from Amazon vowing $200 billion of spending this year and indirect talks between the US and Iran. Omani officials say separate talks have been had with delegations from Was ...

Core Viewpoint - US stock index futures showed signs of stabilization on Friday following a significant selloff in technology shares earlier in the week, indicating that the worst of the tech-led decline may be subsiding [1] Group 1 - The selloff in technology shares was described as "bruising," highlighting the severity of the market's reaction [1] - Tentative signs of easing in the tech-led rout suggest potential recovery in the technology sector [1]

Amazon is a mega-cap company recycling its torrent of cashflows back into a generational opportunity to cement its place at the top of the AI mountain. ...

Group 1 - The Bitcoin market continues to experience a downturn, indicating ongoing volatility in the cryptocurrency sector [1] - One initial public offering (IPO) has been paused, while three others are proceeding, reflecting mixed sentiments in the IPO market [1] - Hims & Hers has introduced a generic version of the Wegovy pill, which may impact the pharmaceutical industry and weight loss market [1]

Group 1 - The company's payments to the U.S. government were reduced due to breaks for investment and research [1]

Financial Performance - IREN reported Q2 revenue of $184.7 million, which was below expectations and a decline from $240.3 million in Q1 [1] - The company experienced a net loss of $155.4 million, also missing consensus estimates [1] Strategic Transition - IREN is accelerating its transition from bitcoin mining to AI Cloud services [1] - The company secured $3.6 billion in GPU financing for its Microsoft contract, along with a $1.9 billion customer prepayment, which is expected to cover approximately 95% of GPU-related capital expenditures [2] Market Reactions - Amazon reported mixed results, missing EPS expectations but beating revenue forecasts, leading to a 10% decline in its shares [2] - Bitcoin prices rebounded from around $60,000 to $66,000, resulting in a rally for crypto-exposed equities, with notable gains for companies like Strategy (MSTR), Galaxy (GLXY), and MARA Holdings (MARA) [3]

Market Overview - U.S. stock futures advanced following a sharp sell-off, with major benchmark indices showing positive movement [1] - The 10-year Treasury bond yielded 4.20%, while the two-year bond was at 3.48%, indicating market expectations for interest rates [2] - Consumer discretionary, materials, and information technology stocks recorded the biggest losses, while consumer staples and utilities closed higher [7] Company Performance - Roblox Corp. (NYSE:RBLX) surged 14.41% after beating earnings estimates in its fourth-quarter report [4] - Amazon.com Inc. (NASDAQ:AMZN) dropped 8.39% in premarket trading after reporting mixed fourth-quarter results, maintaining a weaker price trend [5] - Reddit Inc. (NYSE:RDDT) jumped 11.22% after announcing better-than-expected fourth-quarter results and a strong sales forecast [5] - Strategy Inc. (NASDAQ:MSTR) increased by 6.98% after reporting fourth-quarter revenue and EPS that beat analysts' estimates [5] - Benzinga's Edge Stock Rankings indicate that RBLX, AMZN, RDDT, and MSTR maintain weaker price trends over various time frames [5][6] Economic Insights - Scott Wren from Wells Fargo Investment Institute maintains a resilient outlook for the U.S. economy, expecting steady growth and moderating inflation [8] - Key drivers for continued economic progress include the ability to weather volatility and market pullbacks being viewed as opportunities for increased exposure in sectors like Financials, Industrials, and Utilities [8] Commodities and Global Markets - Crude oil futures rose by 1.44% to around $64.20 per barrel, while Gold Spot increased by 1.72% to approximately $4,862.74 per ounce [10] - Bitcoin traded 7.86% higher at $65,760.87 per coin, reflecting positive sentiment in the cryptocurrency market [10] Global Market Performance - Asian markets closed mixed, with India's Nifty 50 and Japan's Nikkei 225 rising, while indices in Hong Kong, China, Australia, and South Korea fell [11] - European markets also showed mixed performance in early trading [11]

Core Viewpoint - Amazon shares experienced an 8% decline in premarket trading due to concerns over the company's significant capital expenditure plans, which have heightened investor anxiety regarding the broader trend of Big Tech's spending on artificial intelligence [1] Group 1 - Amazon's capital expenditure plans are perceived as hefty, contributing to investor worries [1] - The decline in Amazon's shares reflects a broader concern among investors about the spending habits of major technology companies on artificial intelligence [1]

Market Overview - Bitcoin has dropped to $60,000 from a record high of $124,000, indicating a downward trend in market froth [1] - Share markets, including the ASX 200 index, have seen significant declines, with a 2% drop on Friday [2] - A local market wipeout of nearly $65 billion occurred, marking the largest fall since April of the previous year, with all sectors closing lower [3] Sector Performance - The ASX technology sector fell by 12.6% for the week, driven by concerns over AI investments and their potential returns [6] - Major tech companies like Amazon saw an 11% drop in shares due to high capital expenditure plans, impacting technology stocks in Australia [7] - Real estate stocks weakened, with Goodman Group falling 6.1% and REA Group down 7.8% after disappointing profit results [11] Commodity and Mining Sector - Gold and silver prices have weakened, with silver experiencing a 2% increase after an 18% fall in the previous session [8] - Major mining companies like BHP, South32, and Newmont saw declines in their share prices, with BHP down 3.1% [9] - Rio Tinto shares remained flat after ending merger talks with Glencore [10] Upcoming Economic Indicators - The focus will shift to household spending data expected to show some weakening, while new home loan data is anticipated to increase by around 6% [14] - US jobs figures are expected to show an addition of around 50,000 jobs, with the unemployment rate steady at 4.4% [15]

Core Insights - Nvidia stock has experienced its worst five-day performance since April of the previous year [1] Company Summary - The recent decline in Nvidia's stock price marks a significant downturn, indicating potential volatility in the market [1]