Dow Jones hits new highs again, software stocks surge strongly, Dingdong Maicai rises over 9%, gold and silver plunge in the short term

On Tuesday Eastern Time, the three major U.S. stock indices opened higher across the board. As of around 11:00 PM Beijing time, the Dow Jones Industrial Average rose over 360 points, continuing to hit a new intraday high.

Most of the leading tech stocks advanced. Among the seven giants, Microsoft rose over 2%, Amazon increased over 1%, Tesla and Apple saw slight gains, while Google declined more than 1% against the trend.

Oracle and Netflix surged over 3%, Sequoia Capital rose over 2%, and TSMC increased over 1.5%. On the news front, TSMC’s January revenue grew nearly 20% month-over-month and nearly 40% year-over-year, marking the fastest growth in months and highlighting the continued strong global AI spending. TSMC also expects capital expenditures in 2026 to reach up to $56 billion, a significant 37% increase year-over-year.

Software stocks climbed strongly, with Spotify and Datadog both soaring about 16%, Shopify up nearly 7%, and Unity up over 5%.

On the news front, music streaming platform Spotify’s latest earnings report showed its total revenue for Q4 2025 was €4.53 billion, surpassing market expectations. Meanwhile, Datadog’s revenue and net profit for Q4 2025 also exceeded market forecasts.

Storage concept stocks continued to weaken, with SanDisk, Western Digital, and Seagate Technology falling over 5%, Micron Technology dropping nearly 4%, and ON Semiconductor down 3.5%, as their Q4 revenues declined 11%.

Most popular Chinese concept stocks rose, with the NASDAQ China Golden Dragon Index up 0.72%. Dingdong Maicai surged over 9%, Tencent Music, Xunlei, Li Auto, and Xinyue Technology gained over 2%, and Alibaba increased over 1%. Kingsoft Cloud fell over 3%, while GDS Holdings and Vipshop declined over 1%.

In commodities, gold, silver, and Bitcoin experienced short-term drops, while international oil prices fluctuated.

As of 11:00 PM Beijing time, spot silver fell nearly 2%, losing the $82 level, and spot gold declined about 0.5%, retreating to around $5,030, after reaching a high of $5,078 earlier in the day.

Bitcoin sharply dropped, with its decline expanding to 1.69%, trading at $68,167.9 per coin. According to Coinglass data, over 99,600 traders were liquidated in the past 24 hours globally.

WTI crude oil turned from gains to losses, narrowly holding above $64 per barrel, while ICE Brent crude slightly rose to $69 per barrel.

On the international front, Middle East risks remain. According to CCTV News on February 10, Iran and the U.S. have not announced the date or location for their next negotiations.

Additionally, CCTV News reported that on February 10 local time, Israeli Prime Minister Benjamin Netanyahu departed for the U.S. to meet with President Trump on February 11 local time.

Netanyahu said the meeting would discuss multiple issues, including the Gaza situation. U.S. Ambassador to Israel, Tom Nides, stated before boarding that the U.S. and Israel have “highly aligned” positions on Iran and share the same “red lines” regarding Iran. He noted that whether negotiations can make progress “depends on Iran’s attitude.”

Iran and the U.S. held indirect nuclear talks in Muscat, Oman, on February 6. Although both sides signaled a willingness to continue negotiations afterward, the “war alert” has not been lifted.