U.S. stocks decline, gold and silver rise

On February 11th, local time, data showed that the three major U.S. stock indices closed slightly lower. The U.S. Tech Seven Giants Index fell 0.57%, with Alphabet-C (Google’s parent company) and Microsoft dropping over 2%. The Nasdaq China Golden Dragon Index declined 0.65%.

In terms of news, data released by the U.S. Bureau of Labor Statistics showed that, seasonally adjusted, the U.S. added 130,000 non-farm jobs in January, far exceeding market expectations, with the previous figure revised slightly downward to 48,000.

Large-cap U.S. tech stocks saw mixed movements

On February 11th, data indicated that by the close, the Dow Jones Industrial Average fell 0.13% to 50,121.4 points; the S&P 500 index slightly declined, closing at 6,941.47 points; and the Nasdaq dropped 0.16% to 23,066.47 points.

Large-cap U.S. tech stocks showed mixed performance, with the U.S. Tech Seven Giants Index down 0.57%. Individual stocks included Alphabet-C and Microsoft falling over 2%, Amazon down more than 1%, Meta slightly down, and Tesla, Nvidia, and Apple experiencing modest gains.

Chinese concept stocks had mixed results, with the Nasdaq China Golden Dragon Index down 0.65%. Notable decliners included Hesai Technology, Huya, Qifu Technology, and NetEase; while Century Internet and Kingsoft Cloud led gains.

Dongwu Securities stated that in the short term, U.S. stocks are shifting from a “one-sided rally” to a “painful transition.” The market is currently experiencing a “dual pressure” resonance: first, AI anxiety sweeping through the tech sector, with Capex spending reversing logic from a “growth engine” to a “profit lock”; second, liquidity continues to tighten.

Shenwan Hongyuan noted that recent volatility in U.S. tech stocks is largely due to valuation pressures, with profit expectations still outperforming value stocks. The sharp decline in U.S. software stocks is a key drag on recent tech performance, driven by market concerns over non-listed large model companies disrupting the software ecosystem, leading to a reevaluation of software stocks based on long-term substitution prospects.

International gold and silver prices rise

On February 11th, international gold and silver futures and spot prices closed higher. COMEX gold futures rose 1.53% to $5,107.80 per ounce; COMEX silver futures increased 4.6% to $84.085 per ounce; London spot gold rose 1.24% to $5,083.79 per ounce; and London silver spot gained 4.35% to $84.262 per ounce.

Regarding international oil prices, NYMEX WTI crude and ICE Brent crude both increased by over 1%.

CITIC Securities International stated that the fundamental support for gold prices remains upward through 2026. Although new unconventional factors may temporarily pull back gold prices, they will influence short-term movements within the range determined by fundamentals.

Shenwan Hongyuan Futures indicated that after sufficient market adjustment and the accumulation of new bullish factors, gold is expected to resume a steady upward trend. Due to higher volatility in silver compared to gold and the current gold-silver ratio remaining relatively low, investors are advised to stay on the sidelines for now.

Venezuelan acting president meets U.S. Energy Secretary

According to Xinhua News Agency, Venezuelan Acting President Delsi Rodriguez met with U.S. Secretary of Energy Chris Wray at the presidential palace in Caracas on February 11th.

The presidential social media account stated that the meeting aimed to discuss energy-related agendas. Rodriguez told the media afterward that the discussion covered projects in oil, natural gas, mining, and electricity sectors.

Wray said that U.S. President Trump committed to establishing “a new relationship” with Venezuela.

According to The Politico website, Wray is the highest-ranking U.S. official to visit Venezuela since the U.S. resorted to military action against the country. In an earlier interview with the outlet, he mentioned that the trip would include meetings with Rodriguez and senior executives in Venezuela’s oil and gas industry, as well as an assessment of Venezuela’s oil and gas production status.

In early January, the U.S. launched a large-scale military strike against Venezuela, forcibly detaining President Maduro and his wife and bringing them to the United States. Trump subsequently stated that the U.S. would “manage” Venezuela until a “secure” transition is achieved, and that major U.S. oil companies would invest in Venezuela.