Industry Overview - The surveillance and general Earth-observation industry is experiencing significant growth due to escalating geopolitical tensions and increased military spending in 2026 [1] Company Focus - The focus is on identifying promising biotechnology companies that are innovating through novel mechanisms of action, first-in-class therapies, or platform technologies [1] - The analysis emphasizes evaluating the science behind drug candidates, the competitive landscape, clinical trial design, and potential market opportunities while balancing financial fundamentals and valuation [1]

Core Viewpoint - Legendary investor Ray Dalio warns that the world is "on the brink" of a capital war, highlighting the potential for geopolitical tensions to escalate into financial conflict, including trade embargoes and capital controls [1][2][4]. Geopolitical Tensions - Dalio expresses concerns about mutual fears between Europe and the United States regarding sanctions and restricted access to capital markets, indicating that while a capital war hasn't started, the situation is precariously close [2][4]. - The remarks come amid heightened tensions over U.S. international policies, including tariffs and attempts to acquire Greenland, which have caused market volatility and reflect fears of a capital imbalance between major economies [3]. Capital Controls and Market Dynamics - Dalio notes that capital controls are being implemented globally, raising questions about who will be affected, and emphasizes that while a capital war is not currently happening, it is a logical concern [4]. - European investors accounted for 80% of foreign purchases of U.S. Treasurys between April and November, highlighting the interconnectedness of global financial systems and the associated risks [5]. Historical Context and Investment Strategies - Dalio draws historical parallels to the U.S. sanctions on Japan before World War II, suggesting that similar dynamics could unfold between the U.S. and China or Europe [6]. - In response to these geopolitical concerns, central banks and sovereign wealth funds are preparing for potential capital controls, indicating a growing awareness of the risks posed to global capital markets [7]. Investment Recommendations - Amid market uncertainties, Dalio advocates for gold as a reliable hedge against volatility, emphasizing its critical role as a diversifier despite recent price fluctuations [8]. - He advises central banks and investors to maintain a percentage of their portfolios in gold to safeguard against economic downturns [8].

Key TakeawaysRussia claims capture of Chuhunivka in eastern Ukraine, intensifying geopolitical tensions, while Ukraine implements emergency power cuts following widespread airstrikes.An assassination attempt on top Russian military intelligence General Alexeyev has been reported, with suspects expected to be interrogated soon, according to Kommersant.Ukrainian President Zelenskiy anticipates the next round of trilateral peace talks in about a week, with the U.S. reportedly aiming for a deal to end the war b ...

Global oil benchmarks fall as geopolitical tensions ease. ...

Bitcoin briefly dipped below $72,000 on Thursday morning in early Asian trading hours, hitting its lowest level in nearly 16 months. As the selloff deepens, prediction market traders on Polymarket are rapidly repricing their expectations — and the data paints a sobering picture for the short term, even as longer-term optimism persists. Polymarket's real-money contracts show a market caught between defending $70,000 as a floor and clinging to $100,000 in annual returns. February Outlook: $70K Is the Line ...

AngloGold Ashanti (AU) is set to release its Q4 2025 earnings on Feb. 20. Along with the regular dividend, the company is also expected to announce an additional dividend to meet its annual payout targets. AU intends to pay half of its free cash flows to investors as dividends, and while it has already made two true-up payments following the Q2 and Q3 earnings, it should announce another one while releasing the Q4 earnings. AU stock has risen sharply over the last two years, riding the gold price rally. ...

Wall Street extended losses into midday trading Tuesday as geopolitical tensions in the Middle East resurfaced, while gold staged a violent rebound after two days of historic selling. • SPDR Gold Shares stock is charging ahead with explosive momentum. Why is GLD stock up today?Gold — as tracked by the SPDR Gold Shares (NYSE:GLD) — surged more than 6%, vaulting past $4,950 per ounce and putting the metal on track for its strongest session since November 2008.The rebound comes after a brutal sell-off sparked ...

Geopolitical Context - Geopolitical tensions have significantly influenced market volatility in 2026, particularly due to U.S. military actions in Syria and Venezuela, and the risk of escalating conflict with Iran [1][2] Defense Spending Trends - President Trump proposed a $1.5 trillion military budget for 2027, a substantial increase from the $901 billion approved for 2026 [3] - Global defense spending is projected to reach $2.6 trillion by the end of 2026, marking an 8.1% increase over 2025, with the U.S. being the largest contributor [4] Industry Performance - The S&P Aerospace & Defense Select Industry Index has increased by 54.05% over the past year, outperforming the S&P 500's 15.49% gain [5] - U.S. defense companies are expected to increase capital expenditure by over 30% in 2026, with five leading firms projected to collectively spend $10.08 billion, a nearly 38% increase from 2025 [6][7] Company Earnings Highlights - Lockheed Martin reported Q4 2025 adjusted earnings of $5.80 per share, missing estimates but showing a 161.3% year-over-year increase, with net sales of $20.32 billion, surpassing estimates by 2.5% [9][10] - RTX Corporation's Q4 2025 adjusted EPS was $1.55, beating estimates by 5.9%, with sales of $24.24 billion, exceeding estimates by 6.6% [13][14] - Northrop Grumman reported Q4 2025 earnings of $7.23 per share, a 13.15% increase from the previous year, with total sales of $11.71 billion, beating estimates by 0.83% [15][16] Investment Opportunities - The aerospace and defense industry is expected to maintain a positive outlook due to rising military spending, with several ETFs such as ITA, PPA, and XAR providing diversified exposure to this trend [11][17][18]

Key TakeawaysSpot silver prices surged over 9% to $86.58/oz, while the Shanghai Gold Exchange announced increased margin ratios and price limits for some gold contracts, signaling heightened volatility in precious metals.Fuji Media Holdings Inc. (4676.T) revealed a 235 billion yen share buyback program, coinciding with news of activist investors selling their stakes.AstraZeneca (AZN) faced a setback as its initial application for a lupus injection was turned down by the FDA.France reported an improved Decem ...

Core Insights - The quantum computing sector experienced significant volatility in January 2026, with major players like IonQ, Rigetti Computing, and D-Wave Quantum facing substantial sell-offs due to broader tech market jitters and risk-off sentiment [1][4][5] Market Performance - In January, IonQ's stock declined by 10.9%, while Rigetti and D-Wave saw larger drops of 18% and 18.9%, respectively [2][8] Market Drivers - The sell-off was primarily driven by uncertainty surrounding interest rates, as central banks indicated that rate cuts would be slower and more dependent on economic data, leading to reduced attractiveness of long-duration assets [4][5] - Geopolitical tensions, including ongoing conflicts and trade pressures, raised concerns about supply chains and capital spending, prompting investors to shift towards defensive sectors [5] February Outlook - For February 2026, selective stabilization is anticipated rather than a broad-based rebound, with stock-specific developments becoming increasingly important [6] - IonQ's announcement of a $1.8 billion acquisition of SkyWater provided a temporary boost in sentiment, with analysts projecting a 74.61% increase in price target from its last closing price of $43.24 [7][8] - D-Wave reported $30 million in contracts and growing traction for its Advantage2 system, which helped stabilize its shares, with an average price target increase of 73.8% from its last closing price of $23.22 [9] - Rigetti, however, lacks near-term catalysts, making it more vulnerable to macro sentiment, with an average price target increase of 103% from its last closing price of $19.85 [10] Valuation Sensitivity - Valuations for quantum pure plays remain highly sensitive to interest-rate expectations and overall risk appetite, limiting upside potential unless macro conditions improve significantly [15]