(1/23/26) U.S. stocks on January 23, 2026 showed a mixed but generally resilient performance, with the Nasdaq posting gains while the Dow slipped and the S&P 500 was nearly flat. Tech strengthen Nvidia (+1.5%) and AMD (+2.3%) helped support the Nasdaq. Financial sector weakness: Goldman Sachs’ decline weighed heavily on the Dow.

Easing geopolitical fears: Helped stabilize risk sentiment, preventing deeper losses. Despite the Dow’s decline, the broader market avoided major losses. Trading remained volatile throughout the week, but tech continued to act as a stabilizing force.

The U.S. dollar came under new pressure Friday, tumbling against the Japanese yen and limping toward the end of its worst week since June. The dollar was recently trading below 156 yen, down from 158.42 late Thursday. The WSJ dollar index was down 0.8%.

Prices for natural gas jumped 4.6%, amid forecasts for some of the coldest, snowiest weather in years. It rose 70% for the week, its biggest surge on record. Oil prices added nearly 3%, lifting benchmark U.S. crude futures to $61.07 a barrel.

Intel stock sank 17%, after the chip maker swung to a bigger-than-forecast loss and projected further losses this quarter.

In Tokyo, the Nikkei 225 inched higher after the Bank of Japan held interest rates steady and lifted growth projections.

GLOBAL MARKETS MOSTLY HIGHER, GOLD/SILVER HIGHER, OILHIGHER, YIELDS SLIGHTLY LOWER

(1/26/26) European markets opened slightly positive on with the Stoxx 600 edging up about 0.1% early in the session. Major indexes such as the FTSE, DAX, and CAC traded mixed, reflecting cautious sentiment influenced by geopolitical tensions.

Asian markets on showed a broadly positive tone, with major indexes such as the Nikkei 225, Hang Seng, SSE Composite, Kospi, and ASX 200 all trading higher. This reflects a generally upbeat session across the region, driven by tech strength and wider risk-on sentiment. Tech-led momentum continued across Asia, with Japan’s market strength supported by gains in banks, brokerages, and machinery producers. Broader Asia-Pacific sentiment leaned positive, though India’s markets lagged with notable declines in both Sensex and Nifty.

U.S. Treasury yields on moved slightly lower across most maturities, with the 10‑year note around 4.21% and the 2‑year near 3.59%, reflecting investor caution ahead of the Federal Reserve’s first policy decision of the year.

Oil prices on were trading firmly higher, with Brent crude near $65 per barrel and WTI holding above $60, supported by renewed supply‑side risks and bullish market sentiment.

WTI was trading inside an ascending channel, recently testing resistance near $61.43, with potential pullbacks toward support levels at $60.46, $60.16, and $59.86.

Analysts noted crude was attempting to regain bullish momentum, supported by technical indicators and short‑term trend strength.

On a side note, although not global crude benchmarks, several Philippine fuel retailers announced price hikes effective January 27, 2026, driven by supply constraints and geopolitical issues.

Precious metals were trading at exceptionally elevated levels on, with gold above $5,100/oz, silver above $110/oz, and platinum and palladium also sharply higher—continuing the powerful rally that began in late 2025.

Spot gold: $5,024.95 per ounce, gold futures (Feb 2026): $5,024.60 per ounce. Gold crossed the $5,000 mark for the first time in history, extending a powerful multi‑month rally.

Spot silver: $104.72 per ounce. Silver also broke above the $100 threshold for the first time, continuing its explosive momentum from 2025. The price surge continues because of heightened geopolitical tensions and global uncertainty, concerns over U.S. President Donald Trump’s tariff policies, pushing investors toward safe‑haven assets & strong central‑bank buying and heavy ETF inflows supporting gold.

FUTURES POINTING TO A LOWER STOCK MARKET OPENING

WEEK AHEAD

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