Traders work on the floor of the New York Stock Exchange on Feb. 4, 2025.

NYSE

My top 10 things to watch Wednesday, Feb. 5

1. U.S. companies created 183,000 jobs last month, according to the ADP’s monthly data. That was slightly more than the upwardly revised 176,000 in December and much more than the 150,000 economists were expecting. Will Friday’s government employment report show this kind of strength?

2. Wall Street was looking at a lower open as shares of Alphabet and Advanced Micro Devices sank after their earnings reports. Wednesday morning: bond yields dipped, gold hit a record high, and oil slumped 1%. The Dow, the S&P 500, and the Nasdaq were all higher Tuesday.

3. Alphabet dropped a bombshell that it needs to spend a much higher-than-expected $75 billion for cloud and data center in 2025. Seems like concerns about Chinese startup DeepSeek curtailing AI chip demand are more of a side show. Good news for Club names Nvidia and Broadcom, which makes TPUs for Google.



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