A Sudden Reset

Trump struck a surprise trade deal with India, resetting strained ties.

Author

Ankit Sinha
February 03, 2026

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🎯 In this issue:

  • Banana Bits: Finance headlines that actually matter

  • Market Summary: Equities surge after record manufacturing activity

  • What’s Ripe / Rotten: The tastiest and most disgusting stocks today

  • Technical Trip: Interview Q&A from Centerview Partners

  • Lesson from the Library: Master LBOs, deal judgment, and the PE interview mindset.

  • Deal Deep Dive: M&A, IPO, and transaction breakdowns

  • The Daily Poll: See how you stack up

Market Snapshot

📉 Banana Bits

Market News

Equities Surge After Record Manufacturing Activity

The Institute for Supply Management’s manufacturing index indicated that U.S. manufacturing activity is expanding, rising to 52.6 from 47.9. This is a sign that the industry might be turning a corner after years of malaise. On the other hand, this news might prompt the Fed to pause rate cuts. Despite that, the market views the news as positive and drives equities.

The S&P 500 added 0.5%, near record highs. The Russell 2000 index of small firms rose 1% while gold dropped. The S&P 500 added 0.5%. Walt Disney Co. sank after a tepid forecast.

In late hours, Palantir Technologies Inc. gave a bullish revenue outlook. The yield on 10-year Treasuries rose four basis points to 4.28%. The dollar added 0.3%. B*tcoin climbed about 2%.

Another school of thought is how commodities like gold have become more volatile than risky assets like B*tcoin. Thirty-day volatility in gold has climbed above 44%, the highest level since the 2008 financial crisis. That surpasses the roughly 39% for B*tcoin.

What's Ripe

Palantir Technologies Inc. (PLTR) 0.8%

  • PLTR rose 0.8%. The AI-powered data analytics company was set to report fourth-quarter adjusted results after the close.

MP Materials Corp. (MP) 0.6%

  • MP gained 0.6%. A report on Monday suggested the U.S. could launch a mineral stockpile, sending shares of the mining stock and peers higher.

  • USA Rare Earth rose 1.4%.

What's Rotten

Walt Disney Co. (DIS) 7.4%

  • DIS sank 7.4% even after fiscal first-quarter earnings and revenue beat analysts’ estimates.

  • The company said it still expects adjusted earnings to grow by double digits in the current fiscal year.

  • Shareholders have been focused on Disney’s streaming growth as linear TV continues to see declining viewership, and concerns remain around its theme park attendance.

Albemarle Corp. (ALB) 3.3%

  • ALB fell 3.3%, which added to a 5.6% decline from Friday as investors seemed spooked at the prospect of what might happen to lithium prices amid a commodities selloff.

🧠 Technical Trip

Interview Q&A from Centerview Partners

👉 Want 1-on-1 recruiting help from Centerview Partners bankers & 2,000+ top mentors? Apply to WSO Academy

📚 Lesson from the Library

🎥 Private Equity Interview Course: Think Like a PE Investor

Master LBOs, deal judgment, and the PE interview mindset.

🦈 Deal Dispatch

M&A, IPOs, And Other Notable Transactions

📊The Daily Poll

What changes most after Donald Trump’s trade deal with India?

Login or Subscribe to participate in polls.

Previous Poll:

What is the main goal of the U.S. tariff threats tied to Cuba dealings?

Diplomatic leverage: 38.1% // Trade deterrence: 19.0% // Political signaling: 30.2% // Sanctions enforcement: 12.7%

Student Success Corner

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Banana Brain Teaser

Previous

Seven pieces of rope have an average (arithmetic mean) length of 68 centimeters and a median length of 84 centimeters. If the length of the longest piece of rope is 14 centimeters more than 4 times the length of the shortest piece of rope, what is the maximum possible length, in centimeters, of the longest piece of rope?

Answer: 134

Today

A photography dealer ordered 60 Model X cameras to be sold for $250 each, representing a 20 percent markup over the dealer’s initial cost per camera. Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50 percent of the dealer’s initial cost. What was the dealer’s approximate profit or loss as a percent of the dealer’s initial cost for the 60 cameras?

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Warren Buffet

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Happy Investing,
Chris, Vyom, Ankit, Mitchell, Fernanda, & Patrick