Markets steady ahead of Fed week as gold tops $5,000 and storm snarls travel
U.S. stock futures were little changed Monday as investors looked toward major earnings and an upcoming Federal Reserve decision. Gold futures broke above $5,000 per ounce amid geopolitical and economic uncertainty, while severe winter weather fueled widespread flight cancellations and delays.
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A cautious start to a pivotal week
U.S. markets opened the week in a holding pattern, with stock futures hovering near flat as investors prepared for a heavy run of corporate earnings and a Federal Reserve meeting that could reshape expectations for interest rates. Traders also weighed geopolitical uncertainty and fresh trade friction that has added volatility in recent weeks.
The most striking move came in commodities. Gold futures surged to record territory, pushing past $5,000 an ounce as investors sought perceived safety in a period defined by policy uncertainty, shifting global alliances and concerns about growth. Silver also advanced sharply, echoing the risk-off tone in parts of the market.
Winter storm disrupts airlines and airports
The same massive winter storm that left large areas dealing with snow and ice also hit the travel industry hard. Flight cancellations mounted over the weekend and into Monday, affecting major hubs and leaving airlines to manage aircraft and crew dislocations. Shares of several major carriers slipped as the scale of disruption became clearer.
Trade and supply-chain themes remain in focus
Beyond weather-related disruption, investors continued to digest new trade uncertainty, including President Trump’s tariff threats aimed at Canada. The prospect of shifting tariff regimes added to an already complex outlook for inflation, corporate margins and cross-border supply chains—factors that also feed into the Fed’s rate calculus.
With major tech earnings and the Fed decision ahead, many investors appeared reluctant to take big positions early in the week, leaving markets sensitive to incoming data and policy headlines.