Wall Street steadies ahead of Fed decision as tariff risk rises and rare-earth funding lifts shares

A busy week for rates and earnings

U.S. futures pointed to a subdued start as investors positioned for a high-stakes week that includes major corporate earnings and a Federal Reserve interest-rate decision. With recent trading marked by sharper intraday swings, attention has shifted to how policymakers and executives describe the outlook for growth, inflation, and demand across 2026.

One clear signal from markets: safe-haven demand stayed strong. Gold futures moved above $5,000 an ounce for the first time, building on a rally that has been fueled by uncertainty around geopolitics, trade, and broader financial conditions. Silver rose sharply as well, reinforcing the idea that some investors are actively hedging rather than adding risk.

Trade uncertainty returns to the foreground

New trade risk entered the picture after President Donald Trump criticized a Canada–China agreement and threatened new tariffs that could reach 100% on Canadian imports. Canadian officials pushed back publicly, saying the arrangement complies with existing U.S.-Canada trade commitments, but traders still had to price in the possibility of a fast-moving policy shift.

USA Rare Earths pops on new funding plan

Shares of USA Rare Earths rose after the company disclosed plans tied to substantial federal support and additional financing meant to accelerate the domestic heavy rare-earth value chain. The funding discussion fits into a larger U.S. effort to harden strategic supply chains, especially for materials used in advanced manufacturing and technology-related production. The move also renewed debate about how government participation can reshape competitive dynamics in critical industries.