Stocks, Bitcoin Rebound; Amazon Vows to Spend $200 Billion on AI | Bloomberg Brief 2/6/2026

Watch on YouTube ↗  |  February 06, 2026 at 12:24  |  43:31  |  Bloomberg Markets
Speakers
Chloe Meley — Reporter, Bloomberg
Craig Trudell — Reporter, Bloomberg News
Vonnie Quinn — Anchor, Bloomberg
Tom Mackenzie — Anchor, Bloomberg
Mandeep Singh — Senior Analyst, Bloomberg Intelligence
Veronica Clark — Economist, Citi
Morwenna Coniam — Reporter, Bloomberg

Summary

Bloomberg Brief covers a rebound in equity futures after a sharp tech-led selloff, with Bitcoin and precious metals bouncing while iron ore and copper remain weak. Amazon and Alphabet faced investor scrutiny over massive AI capex plans, Stellantis plunged on EV-reset charges, and Reddit rose on a buyback and strong sales outlook. Citi’s Veronica Clark discusses a still-weak labor market and potential Fed cuts, while Bloomberg Intelligence’s Mandeep Singh examines AI capex, software disruption fears, and chip capacity constraints.

  • Equity futures rebound after the Nasdaq 100's worst drop in months; Russell 2000 leads rotation.
  • Bitcoin recovers from about $60k to near $66k after a 50% drawdown; forced selling may be easing.
  • Amazon's $200 billion AI capex plan pressures shares; investors question monetization timeline.
  • Stellantis falls on roughly €22 billion/$26 billion EV-related charges and a business reset.
  • Reddit gains on a $1 billion buyback and stronger first-quarter sales outlook.
  • Citi economist sees weak underlying labor market despite seasonal January payroll strength; Fed cuts may be delayed.
  • Tech capex debate centers on hyperscaler spending, software AI disruption, and TSMC wafer capacity.
  • Treasury 2s10s curve remains near four-year steepest; iron ore and copper trend lower.
Ideas
Vonnie Quinn Anchor, Bloomberg 1:19
Small-cap rotation may continue
Russell 2000 futures are leading the rebound and small caps continue to benefit from the rotation out of mega-cap tech. She suggests the rotation may continue, making the Russell 2000 a setup to watch.
IWM MED
Vonnie Quinn Anchor, Bloomberg 1:40
Two-ten curve stays historically steep
Treasury yields are lower across the curve, but the 2s10s spread remains around 71-72 basis points, the widest in about four years. The steepener is therefore a market structure to watch as curve steepness persists despite the broader yield decline.
US 2s10s Curve Steepener MED
Chloe Meley Reporter, Bloomberg 2:20
Amazon AI capex worries weigh
Amazon shares fell after the company guided to $200 billion of AI/datacenter capex, well above expectations and echoing Alphabet's spending plans. The concern is that mega-cap AI spending may not pay off in time or may exceed the revenue potential, pressuring margins and investor confidence.
AMZN MED
Chloe Meley Reporter, Bloomberg 3:04
AI disruption fears pressure software
A broader software selloff is underway as investors limit exposure to companies they believe will be disrupted by AI. Disappointing guidance from a health-care software company added to the pressure, and the market is repricing the sector's vulnerability to AI-driven displacement.
IGV MED
Tom Mackenzie Anchor, Bloomberg 10:14
Mega-cap AI capex needs monetization
The four largest tech companies are committing about $650 billion to AI capex in 2026, an unprecedented level this century and comparable to historic telecom or railway booms. They now must prove they can monetize the spending, or investors may continue to worry about margin pressure and overvaluation.
SKYY MED
Vonnie Quinn Anchor, Bloomberg 16:01
Bitcoin bounces after deep drawdown
Bitcoin dropped to around $60,000 and rebounded toward $66,000 as dip buyers returned. Vonnie flags that forced selling and the crisis of confidence may be abating, making the rebound an important setup to watch even though Bitcoin remains far below its peak after a 50% drawdown.
BTC MED
Vonnie Quinn Anchor, Bloomberg 16:30
Iron ore and copper trend lower
Iron ore in Singapore is below $100 and copper futures are also trending lower. Vonnie says there is just one direction of travel for iron ore and seemingly for copper as well, framing both commodities as under downward pressure.
Iron Ore COPPER MED
Craig Trudell Reporter, Bloomberg News 17:32
EV reset charges pressure Stellantis
Stellantis announced roughly €22 billion/$26 billion of charges tied to a business reset away from EVs, higher than expected. The charges reflect management overestimating the pace of the energy transition, difficult US policy shifts, heavy EV investments now written down, and competitive pressure from lower-cost Chinese entrants like Leapmotor, leaving the CEO under pressure to prove the restructuring works.
STLA MED
Chloe Meley Reporter, Bloomberg 24:05
Buyback and sales lift Reddit
Reddit announced a $1 billion buyback and projected stronger first-quarter sales, showing progress in its advertising business. The combination drove the shares up more than 9% premarket and supports a positive view on Reddit's monetization trajectory.
RDDT MED
Mandeep Singh Senior Analyst, Bloomberg Intelligence 39:54
Wafer bottleneck aids TSMC
Hyperscaler capex is running 20-30% above consensus, straining future wafer and chip capacity. TSMC must ramp fab capacity to deliver for Amazon, Nvidia, and Google, and because wafer capacity is not growing anywhere near 100%, chip delivery lags are likely, making TSMC a key supply-chain bottleneck to watch.
TSM MED
Mandeep Singh Senior Analyst, Bloomberg Intelligence 40:33
Google vertical integration aids AI efficiency
Google has vertical integration across its AI stack and can use the technology inside its own ecosystem, giving it a capex efficiency advantage versus companies that must rent GPUs or accelerator chips. That advantage makes Alphabet a relative winner to watch in the AI capex race.
GOOGL MED
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This Bloomberg Markets video, published February 06, 2026, features Vonnie Quinn, Chloe Meley, Tom Mackenzie, Craig Trudell, Mandeep Singh discussing IWM, US 2s10s Curve Steepener, AMZN, IGV, SKYY, BTC, Iron Ore, COPPER, STLA, RDDT, TSM, GOOGL. 11 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Vonnie Quinn, Chloe Meley, Tom Mackenzie, Craig Trudell, Mandeep Singh  · Tickers: IWM, US 2s10s Curve Steepener, AMZN, IGV, SKYY, BTC, Iron Ore, COPPER, STLA, RDDT, TSM, GOOGL