**Global Market Brief | January 29, 2026** **Equities: Fed Pause & Tech Earnings Focus** Global markets are trading with mixed sentiment following the Federal Reserve’s decision to hold interest rates steady at **3.50%–3.75%**. Investors are weighing sticky inflation against signs of labor market stabilization. * **US Indices:** The **S&P 500** hovers near **6,978** (+0.01%), while the **Dow Jones** is flat at **49,015**. The **Nasdaq Composite** edged higher to **23,857** (+0.17%), supported by AI-driven tech momentum. * **Tech Movers:** **Tesla** is surging after announcing a **$2B investment in xAI** and a strategic pivot to Optimus robots, discontinuing Model S and X. **Meta** and **Microsoft** remain in focus post-earnings, with heavy capital expenditure on AI infrastructure driving narratives. * **Asian Markets:** Japan's **Nikkei 225** is steady at **53,375**, while Hong Kong's **Hang Seng** rallied **2.58%** to **27,826**, leading regional gains. **Commodities: Precious Metals Rally** A weaker US Dollar (Index down to **96.11**) and geopolitical tensions have triggered a massive flight to safety. * **Gold:** Prices have surged to fresh records, trading around **$5,505 per ounce**, fueled by central bank buying and safe-haven demand. * **Silver:** The metal is outperforming, breaching **$117 per ounce** (up significantly), driven by industrial demand and spillover from the gold rally. * **Energy:** Oil markets remain relatively suppressed compared to metals. **Brent Crude** is trading at **$69.74/bbl** and **WTI** at **$64.45/bbl**, as supply remains adequate despite Middle East tensions. **Economy & Policy** * **Federal Reserve:** The central bank kept rates unchanged, citing elevated inflation risks. Two officials dissented in favor of a cut, signaling internal debate on the timing of future easing. * **Currency Wars:** The US Dollar has hit four-year lows. Comments from the US administration suggest a tolerance for a weaker currency to combat trade deficits, adding volatility to forex markets. * **India Economic Survey:** The Survey projects GDP growth of **6.8%–7.2%** for FY2027, highlighting robust industrial output (+7.8% in Dec 2025) and a surge in automotive production. **Crypto: Consolidation Phase** * **Bitcoin:** The leading asset is consolidating near **$89,200**, down slightly (-0.97%) over the last 24 hours but maintaining a massive market cap of **$1.76 trillion**. * **Market Trends:** **Ethereum** trades around **$2,950**, while **XRP** has seen activity near **$1.88**. Institutional interest remains high, but liquidity is currently pausing after recent rallies.