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Closing Bell

Amazon’s Shocking Capex Forecast; Is Bottom in for Bitcoin? 2/5/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 5 February 2026

⏱️ 43 minutes

🧾️ Download transcript

Summary

Amazon reports alongside key results from Affirm, Reddit, Roblox, and Strategy. Roth’s Rohit Kulkarni joins with instant analysis of Amazon’s quarter, investor expectations and what the results signal for Big Tech and consumer demand. Michael Farr, President and CEO of Farrcrest, assesses overall market conditions amid this slide in tech stocks. Bitwise CEO Hunter Horsley weighs in on a sharp downturn in crypto markets and what it means for risk appetite. Bob Michele, Chief Investment Officer at JPMorgan Asset Management, discusses bond and commodity market dynamics, offering perspective on rates, inflation, and global growth.

Transcript

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0:00.0

The bell's bringing an end to the trading day at the NYSC, the New York Junior League, ringing the bell in at the NASDAQ. Clear Corey Toro doing the honors. Welcome to closing bell overtime, live from studio B at the NASAC market site. I'm Melissa Lee, along with Mike Santoli. Sox selling off today and closing near the lows of the session. The Dow down 600 points. The SP500 losing more than a percent and the NASAC down for the fifth time

0:21.9

in six days on pace for its worst week since last April. Bitcoin falling 14 percent today,

0:27.7

more than 25 percent just this week. This would be its worst in more than three years. Silver

0:32.9

also down big. It's lost a third of its value in a week, much more in the markets coming up.

0:37.3

But we are also waiting for some key earnings reports. Amazon, chief among them, do out any minute. Strategy and focus as its Bitcoin stockpile is now underwater. A firm, Reddit and Roblox, among the other names our reporters are watching. But let's start with Christina Parts Nevelas on more with more on today's market sell-off.

0:54.3

Christina.

0:54.6

Well, we had big tech mostly lower today with Microsoft and Amazon among the worst performers.

0:58.8

Amazon closing down about 4% just ahead of earnings.

1:02.2

You had Alphabet closing almost 1% lower after their earnings yesterday, despite accelerating growth in search and cloud.

1:09.2

Software selling off sharply yet again. You have the

1:12.0

IGV down almost 5% today. You've got Open AI, more anthropic competition headlines. Crowdstrike,

1:18.1

data dog, Z scale, all closing at least 7% lower on the day. But semis did hold up better with

1:24.5

help from Alphabet's below at Capappex guidance, Google's custom chipmaker

1:27.8

broadcom, closing less than 1% higher right now, but still in the green. There really is a

1:33.9

dichotomy between chips and software. It's a trend this year. The SMH is up almost 6% year-to-date,

1:39.0

while software's IGV, is down 24%. A 30-point gap, the biggest in their history going back to 2001, guys.

1:48.1

All right, Christina, thanks. Christina, parts nevelas.

1:51.1

Vicks spiked higher today, up 16% or something.

1:53.7

Things were really feeling a little tenuous.

1:55.7

A bit unsteady.

1:56.8

Yeah, I mean, for weeks we've been talking about how you had all these massive volatility

2:00.2

surges in precious metals, in crypto, in parts and currencies too, and somehow stocks and bonds were managing to keep it together through this rotation.

...

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