Weekly Market Recap | Feb 03 – Feb 09

IPO’s in the week

• K&F Growth Acquisition II, a blank check company formed to pursue mergers, share exchanges, asset acquisitions, and similar business combinations, has priced its initial public offering at $10.00 per share on Nasdaq. The company is offering 25,000,000 shares, aiming to raise $250 million. The IPO is set for February 5, 2025.
• Huachen AI Parking Management Technology, a comprehensive smart parking solutions and equipment structural parts provider operating through its subsidiaries in China, has priced its initial public offering at $4.00 per share on Nasdaq. The company is offering 1,500,000 shares, targeting a raise of $6 million. The IPO is set for February 5, 2025.
• FBS Global, a Singapore-based green building contractor and interior fit-out specialist with over 20 years of experience in institutional, residential, commercial, and industrial projects, has priced its initial public offering at $4.50 per share on Nasdaq. The company is offering 2,250,000 shares, aiming to raise $10.1 million. The IPO is set for February 6, 2025.
• Plutus Financial Group Limited, a Hong Kong-based financial services holding company operating through its subsidiaries Plutus Securities and Plutus Asset Management, has priced its initial public offering at $4.00 per share on Nasdaq. The company is offering 2,100,000 shares, aiming to raise $8.4 million. The IPO is set for February 5, 2025.
• EPWK Holdings (NasdaqGM: EPWK), a company that connects businesses with top talent through innovative and efficient cloud-sourcing platforms, has priced its initial public offering at $4.10 per share on Nasdaq. The company is offering 2,750,000 shares, aiming to raise $11.3 million. The IPO is set for February 6, 2025.
• Titan America LLC, a leading cement and building materials producer, has priced its initial public offering at $16.00 per share on the NYSE. The company is offering 24,000,000 shares, targeting a raise of $384 million. The IPO is set for February 7, 2025.
• Sionna Therapeutics, a clinical-stage biopharmaceutical company focused on developing novel medicines to normalize CFTR protein function for cystic fibrosis treatment, has priced its initial public offering at $18.00 per share on Nasdaq. The company is offering 8,823,529 shares, aiming to raise approximately $158.8 million. The IPO is set for February 7, 2025.

Markets this week

• S&P 500: Advanced 56.34 points (+0.94%) this week.
• Russell 1000: Rose by 4.85 points, marking a 1.49% gain.
• Russell 2000: Jumped 34.89 points, up 1.56% over the week.
• CBOE VIX fell 3.82 pts, down about 18.75% this week.
• Bitcoin dropped by about $1152 (-1.18%) during 5 days trading.
• Ethereum dropped by $245.87, a decline of roughly 8.57%.
• Gold increased by $67.90, roughly a +2.41% gain this week.
• Silver edged up by $0.04, roughly a +0.12% gain this week.
• WTI (West Texas Intermediate) dropped by $3.08, about a 4.16% decline this week.
• Brent Crude Oil fell by $2.12, roughly a 2.76% decline this week.
• China’s central bank increased its gold reserves for a third consecutive month in January, despite gold prices reaching record highs.
• European stocks declined after a three-day rally, pressured by Trump’s tariff threats and slowing U.S. job growth.
• As AI fuels a surge in data center demand, companies like CoreWeave and Northern Data’s unit are considering U.S. listings. Blackstone projects over $1 trillion in data center spending, attracting strong investor interest.
• The Bank of England warns that tariff-driven gold premiums in the U.S. are fueling a rush to withdraw gold from its vaults, leading to long queues as traders seek higher returns.
• Russian oil has fallen below the $60 price cap as tightened U.S. sanctions take effect, with Urals crude sellers facing discounts of up to $16 per barrel after the Biden administration’s January 10 restrictions.
• The hottest debt in the U.S. market is making its way into development finance, as BOAD issues a junior bond aligned with Moody’s rule template, following a ratings methodology shift that sparked a U.S. hybrid boom.
• Oil prices dip as Trump’s Iran strategy and pledge to boost output shake the market, with the U.S. Treasury sanctioning a network linked to Iranian crude shipments.
• BlackRock, the world’s largest asset manager, plans to launch a Bitcoin exchange-traded product in Europe after the success of its $58 billion U.S. ETF. The fund is expected to be domiciled in Switzerland, with marketing potentially starting this month, according to sources familiar with the matter.
• U.S. bond traders adopt a more neutral stance as tariff concerns weigh on the outlook, with two-year futures wagers seeing their biggest drop since November and a JPMorgan survey showing a sharp pullback in bullish positions.
• Morgan Stanley sells $5.5 billion of X debt amid surging demand, fully offloading banks’ exposure to the senior term loan as Musk’s White House ties spark renewed investor interest.
• Hedge funds ramp up bearish oil bets at the fastest pace in three months, as escalating U.S.-China tariffs raise concerns over weakened energy demand.
• Crypto ETF hopefuls see a shift in the SEC’s stance as the regulator requests comments on a Solana ETF filing for the first time, raising optimism that the new leadership may take a more pro-crypto approach.
• The dollar ends a volatile week on a high note as looming tariff deadlines drive market moves, though a Bloomberg index shows it remains lower for the week amid trade-driven currency swings.