28/01/2026 Daily Reports
Global Stocks Hit Fresh Records as Nasdaq Leads; Metals Surge and Oil Steadies
- Global equity markets extended their rally for a fifth consecutive session, pushing benchmark indices to new record highs as strong corporate earnings underpinned risk appetite. U.S. markets led the advance, with the Nasdaq and S&P 500 outperforming on upbeat results from major companies. Alongside equities, gold and silver climbed sharply, supported by lingering geopolitical risks and renewed tariff uncertainty, while a softer U.S. dollar added to precious-metal strength. Oil prices jumped more than 2% earlier in the session, driven by supply disruptions linked to severe winter storms in the United States.
- Earlier in January, global equities had suffered a broad selloff after U.S. tariff threats against several European nations, highlighting the market’s sensitivity to geopolitical developments across the U.S., Europe, and Asia. While those pressures have since eased, they remain a background risk factor for investors.
- In Japan, trading activity showed signs of caution: Nikkei 225 futures recorded a sharp contraction in volume and open interest, suggesting reduced market participation despite relatively stable index levels.
- In energy markets, Brent crude prices were little changed after recent gains, holding steady even as U.S. winter weather disrupted output. Ongoing geopolitical tensions, particularly involving the U.S. and Iran, along with concerns over potential global oversupply, continued to shape oil market risk sentiment.
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Fed on Hold, Tech on Edge: Can Earnings Save Wall Street's Rally?
- Fed Decision Looms: The U.S. Federal Reserve is widely expected to keep interest rates steady at the 3.50%–3.75% range today. This follows a series of three consecutive cuts late in 2025. While a pause is expected, investors are laser-focused on Chair Jerome Powell’s tone regarding potential cuts later this year.
- Gold and Silver Record Run: Precious metals are seeing an explosive rally. Gold has surged past $5,200 per ounce and silver is trading near $112. This “flight to safety” is driven by central bank buying and a desire to hedge against U.S. dollar volatility.
- The “Sell America” Trend: The U.S. dollar has hit its lowest levels since 2022. Analysts are pointing to the “Sell America” narrative, fueled by President Trump’s recent threat of tariffs against European allies over the Greenland annexation dispute and concerns regarding the independence of the Federal Reserve.
- Corporate Layoff Wave: Despite the stock market hitting all-time highs recently, major companies are trimming their sails. Amazon announced a new round of 16,000 layoffs, UPS is cutting up to 30,000 roles (shifting away from low-margin Amazon deliveries), and Pinterest is reducing its headcount by 15%.
- Tech Earnings Pressure: With Meta, Microsoft, and Tesla reporting today, and Apple tomorrow, the market is demanding high profit growth to justify current record valuations. Tech shares like Intel and Western Digital are currently leading the gainers in pre-market trading.
