Dow Surges as Traders Brush Off Bitcoin, Metals Meltdown

Gold extended last week's losses

Fernanda Horner

Digital Content Manager

Feb 2, 2026 at 4:24 PM

Wall Street set gold, silver, and Bitcoin (BTC) losses aside to kick off February, with the Dow tacking on 515 points, while the S&P 500 and Nasdaq settled firmly higher as well. Traders are keeping a close eye on the artificial intelligence sector, as rumors fly that Nvidia (NVDA) now has concerns about plans to invest $100 billion into OpenAI. Earnings season is also in focus, with plenty of big name reports coming up this week. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), fell sharply back below 17 after its largest monthly gain since February 2025.

Continue reading for more on today's market, including:

2 crypto-adjacent stocks sliding alongside BTC.
Casino stock flashing bull signal before earnings.
Plus, mining stocks bounce; DIS brushes off profit win; and SHOP looks ready to surge.

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5 Things to Know Today

President Donald Trump unveiled a new trade deal with India today,after Indian Prime Minister Narendra Modi agreed to stop buying oil from Russia. (CNBC)
The ongoing government shutdown will delay the January's jobs report. (Barron's)
Mining stocks rebounded after gold's pullback.
Why Walt Disney brushed off an earnings beat.
Shopify stock looks positioned for more gains.

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Oil Prices Lower Amid Easing U.S.-Iran Tensions

Oil prices slumped on Monday, with cooling U.S.-Iran tensions easing supply concerns, and added pressure coming from a stronger U.S. dollar and milder weather predictions. March-dated West Texas Intermediate (WTI) crude shed $3.51, or a whopping 5.3%, to at $61.70 a barrel.

Gold prices extended last week's steep losses that followed Kevin Warsh's nomination to Federal Reserve chair. Plus, the CME Group's higher margin requirements went into effect after the close. February-dated gold futures dropped 1.6% to settle at $4,666 per ounce.

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