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Hey listeners, it's Saturday, February 1st. I'm Francesca Fontana for the Wall Street Journal and this is what's news in markets. Our look, the biggest stock moves of the week and the news that drove them. Let's get to it. What a way to end January. So this week was wild. We had to juggle looming tariff threats, earnings season, an update from the Fed, and a huge panic around AI. I'm sure I'm not alone in feeling like a month has passed since Monday. So where do we start? Maybe let's start with the good. Earnings season kept going strong this week with data showing that nearly 3/4 of S&P 500 companies that have reported have beaten Wall Street's forecasts. The less good we are back to wait and see when it comes to the Fed, which hit the pause button on interest rate cuts this week, which weighed on the stock market Wednesday. And of course there was that giant sell off in artificial intelligence stocks and beyond, something called Deep Seek. Don't worry, we will come back to that. So overall, how'd stocks do? Looking at the major indexes which did manage to pare some losses after Monday, The S&P 500 and NASDAQ each booked losses for the week while the Dow had a modest weekly gain. And for the year so far the dow is up 4.7%, the S&P 500 has gained 2.7% and the Nasdaq has risen 1.6%. I think it's been a while since we last talked about djt. That's the ticker for Trump Media, the president's company that's behind his Truth social platform. But we're talking DJT today because Trump's social media company is getting into finance. On Wednesday, Trump Media announced its plans to launch a new finance venture called TruthFi, starting by investing $250 million into crypto and other investments and those funds will be kept by Charles Schwab. Now we've seen that the stock Trump Media has been volatile and back around the election we all got used to checking in on the so called Trump trade. But aside from a big pop earlier this month before the inauguration the stock has been more subdued since last November. Shares of Trump Media jumped 6.8% on Wednesday, but on the week, the stock lost 2.6%. Next up, let's talk about that AI bloodbath on Monday. So let's see how fast I can make this recap. As I talk about often on this podcast, AI has been booming. Big tech is loving it and throwing money at it. And the big breakout stars include the chipmaker Nvidia and the company behind ChatGPT, OpenAI. Then this week, traders have to deal with Deepseek. Deepseek is this Chinese startup similar to OpenAI, and its models are threateningly close to its US rival. Only DeepSeek isn't throwing all that money at them. They're training them on the cheap without the most advanced chips. Cue total market meltdown. $1 trillion wiped out from the stock market on Monday, and Nvidia's market value fell more than $500 billion. And the fear was, you know what, if all of this AI spending isn't as justified as everyone thought, when the average Joe, like yours truly, thinks about AI, you know, we might think about all the problems it can solve and how fast it can solve them, and maybe less about how much energy the industry and all those data centers eat up. So along with sectors like tech getting pummeled, you know chipmaker stocks, Magnificent seven members, the usual suspects, power producer stocks like Vistra and Constellation Energy really got drained. Vistra dropped a whopping 28% on Monday, but Quad backed some ground to end the week down 12%. And Constellation Energy shares lost 21% on Monday and ended the week down 14%. Last but not least, UPS shares delivered a big loss on Thursday. Why? UPS warned investors that its 2025 revenue is expected to take a hit as the company starts phasing out more than half of its business with Amazon by June 2026. Amazon is its biggest customer, but as executives said this week, that doesn't mean it's the most profitable customer. The margins are tight and they're eating into profitability. Even so, investors seem displeased with the revenue outlook, given that UPS shares fell 14% on Thursday and ended the week down 14% as well. And now you know what's news in markets this week. You can read about more stocks that moved on. The week's news in the Score, my column in the Wall Street Journal's Exchange section. Today's show was produced by Anthony Banci and Zoe Culkin with supervising producer Michael Kosmides. I'm Francesca Fontana. Have a great weekend and see you next.