⚡ MARKET RECAP → The S&P 500 (VOO) closed higher Monday despite the selloff in precious metals (e.g., gold and silver) and bitcoin (BTC).

TARIFF DEAL WITH INDIA →🧾 Trump says the U.S. and India agreed to a trade deal that lowers U.S. reciprocal tariffs on Indian goods to 18% from 25%, after Modi agreed to stop buying Russian oil and boost purchases from the U.S. It’s tariffs-as-leverage meets energy diplomacy—headline-friendly today, implementation-heavy tomorrow.

DISNEY’S CEO HAND-OFF →🎭 Disney (DIS) says it plans to name Bob Iger’s successor this quarter, framing the transition as happening from a position of improving momentum. Parks and better streaming profits support the narrative, but softer international park traffic and legacy media pressure remain real constraints. Leadership risk may fade; operating risk stays

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For the week beginning February 2, 2026

🇺🇸 Donald Trump says the U.S. and India struck a new trade deal that cuts “reciprocal” tariffs on Indian goods to 18% from 25%. The announcement was delivered via Truth Social, because apparently press briefings were too analog.

🛢️ Narendra Modi agreed to stop buying Russian oil, with India expected to shift more energy purchases toward the U.S. Trump also said India would ramp up purchases of U.S. products—big headline number, very big “we’ll see” follow-through.

📉 The deal is being framed as trade policy with a geopolitical side quest. Linking tariffs to oil sourcing ties the agreement directly to pressure around the war in Ukraine—good optics for Washington, tricky execution for New Delhi, and a reminder that “trade talks” now come with an energy receipt attached.

🏰 Disney (DIS) is signaling that its long-awaited CEO succession is nearing the finish line. Management reiterated it expects to name Bob Iger’s successor in the current quarter, with the incoming chief inheriting a company they say has regained “momentum” after a messy few years of resets and reorgs.

📈 The handoff is happening alongside a cleaner operating story—especially in parks and streaming. Disney’s Experiences unit continues to do most of the heavy lifting, while streaming profitability has improved, helping the company frame the transition as “passing the baton,” not “passing the fire extinguisher.”

🌍 But the next CEO still gets a live to-do list, not a victory lap. Disney flagged softer international visitation trends at U.S. parks and ongoing pressure in legacy TV/film economics—meaning succession clarity may remove a headline risk, but it won’t remove execution risk.

Nvidia shares are down after a report that its OpenAI investment stalled. Here’s what’s happening (CNBC)

Silver and gold extend losses after last week’s historic plunge (CNBC)

Friday’s jobs report will be delayed because of the partial government shutdown (CNBC)

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