Global Market Brief: January 29, 2026 **US Markets & Global Sentiment** US equities paused their rally today after the **S&P 500** briefly breached the historic **7,000** level yesterday. The index is currently trading near **6,978**, consolidating gains as investors await earnings from tech giants Microsoft and Meta. The Federal Reserve held interest rates steady, maintaining a policy of caution despite easing inflation. Global economic forecasts remain resilient but tempered. The IMF projects global growth at **3.3%** for 2026, supported by strong technology investments and stabilizing financial conditions, though trade tensions continue to pose downside risks. **Asian & Indian Indices** Indian markets faced selling pressure today, with the **Nifty 50** slipping below **25,250** and the Sensex trading lower. Traders are booking profits ahead of the upcoming Union Budget. * **Top Gainers:** Metal and Energy stocks showed strength, with **Coal India** and **Jindal Steel** seeing buying interest. * **Earnings Impact:** **L&T** reported a **4.29%** decline in net profit to **₹3,926 crore**, impacted by exceptional items, while **Sundram Fasteners** posted a steady profit rise to **₹130.80 crore**. **Commodities** Gold continues its bullish run, driven by geopolitical instability and central bank buying. In domestic Indian markets, **24K gold** prices have surged to record highs, trading around **₹16,709** per gram. Oil prices remain soft, with expectations of a **7%** decline in energy commodity prices for the year due to strong supply growth offsetting tepid demand. **Cryptocurrency** Bitcoin remains range-bound, trading near **$89,800**. Market participants are digesting recent ETF outflows and regulatory signals. Ethereum and major altcoins like Solana and XRP have seen minor corrections, down roughly **1-2%** over the last 24 hours, as liquidity remains thin. **Key Economic Watchlist** * **US GDP & Inflation data** expected later this week. * **Indian Union Budget** anticipation driving sectoral volatility. * **Tech Earnings:** Microsoft and Meta results likely to dictate the next major move for the Nasdaq and S&P 500.