S&P 500 wins back all losses from Greenland dip, gold and silver surge even higher
US stock indexes rose on Monday, while other markets made higher moves, including another record rally for the price of gold.
The S&P 500 rose 0.5% and regained losses from last week’s decline. The Dow Jones Industrial Average rose 313 points, or 0.6%, and the Nasdaq Composite added 0.4%.
Baker Hughes stock helped lead the way and rose 4.4% after posting stronger earnings last quarter than analysts expected. The energy technology company said it is benefiting from strong momentum in demand for liquefied natural gas, among other things.
CoreWeave stock rose 5.7% after Nvidia said it invested $2 billion in the stock and will help accelerate construction of CoreWeave’s AI factories, which use Nvidia chips, by 2030 to boost AI adoption. Nvidia shares fell by 0.6%.
USA Rare Earth rose 7.9% after the US government said it had agreed to provide $277 million in federal funding to help the company produce heavy rare earths, metals and magnets. The Trump administration also approved a proposed $1.3 billion loan, while the company separately raised $1.5 billion through private investors.
Much of the rest of Wall Street was relatively quiet. This included a mixed performance for airlines, which were forced to cancel thousands of flights due to the winter storm that swept through much of the United States over the weekend. Delta Air Lines shares lost 0.7%, and Southwest Airlines shares added 0.2%.
Overall, the S&P 500 rose 34.62 points to 6,950.23. The Dow Jones Industrial Average added 313.69 points to 49,412.40, and the Nasdaq Composite Index rose 100.11 points to 23,601.36.
The move was stronger in the gold market, where the price of the metal rose another 2.1% and briefly surpassed $5,100 an ounce for the first time to set another record. Silver rose further and settled higher by 14%.
Precious metal prices have risen as investors look for safer places to park their money amid threats of tariffs, still-high inflation, political conflicts and mountains of debt to governments around the world.
The latest concern piling to the top of the swelling list is president Donald Trump’s threat to impose a 100% tariff on goods coming from Canada if it signs a free trade agreement with China.
The value of the US dollar also continued its recent decline against its counterparts. Last week, it was threats of US tariffs related to Greenland that pushed some global investors away from the dollar. This time, the Japanese yen jumped sharply due to expectations that officials in both Japan and the United States may intervene in the market to support the value of the Japanese currency.
There could be more volatility in the financial markets in a week full of big tests.
The Federal Reserve is scheduled to announce its latest move on interest rates on Wednesday. He cut the key interest rate and indicated that further cuts could be on the way in 2026 to help support the labor market and give a boost to the economy.
Most economists expect it to remain flat on Wednesday, in part because inflation remains stubbornly above the Fed’s 2% target, and lower interest rates could exacerbate it. Whatever the Fed decides, Chairman Jerome Powell’s comments in the wake of the decision could impact stock and bond markets.
Several of Wall Street’s most influential stocks are also scheduled to report their latest earnings reports this week. This includes Meta Platforms, Microsoft and Tesla on Wednesday and Apple on Thursday.
In the bond market, the yield on the 10-year Treasury note fell to 4.21% from 4.24% late Friday.
In overseas stock markets, indicators were mixed amid mostly modest moves in Europe after some sharp fluctuations in Asia. Japan’s Nikkei 225 index fell 1.8% in one of the world’s biggest moves. A stronger yen could hurt Japanese exporters, and Toyota Motor shares fell 4.1%.
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AP Business Writers Yuri Kajiyama and Matt Ott contributed.
This story originally appeared on Fortune.com
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2026-01-26 23:43:00
