📈 Global Market Brief: January 29, 2026 Global economic growth is holding **steady** but uneven, projected at **3.3%** for 2026. This resilience is fueled by surging investment in technology, particularly Artificial Intelligence (AI), and broadly accommodative financial conditions. Equity Market Momentum Major US indices saw minimal movement following the Federal Reserve's decision to keep interest rates in the **3.5% to 3.75%** range. The **S&P 500** recently touched the **7,000** level for the first time, reflecting continued strength. The technology-heavy **Nasdaq** finished slightly up by **0.3%**, while the **Dow Jones Industrial Average** closed fractionally lower. This comes amid a critical week for major tech earnings. Post-market releases showed **Meta Platforms** and **Tesla** beating expectations, while **Microsoft** slipped about **7%** despite beating estimates, due to concerns over slowing cloud growth. **Nvidia** shares advanced **1.6%** on reports of H200 chip sales approval in China, reinforcing the AI theme. European equities, including the **STOXX Europe 600**, are also trading at record levels, driven by the outperformance of technology and defense sectors. Key Economic Indicators US economic indicators are mixed. The labor market shows signs of softening, with the December payrolls figure declining to a **-22,000** three-month average, yet the unemployment rate slightly improved to **4.4%**. Global headline inflation is expected to continue its decline, forecast to fall from an estimated **4.1%** in 2025 to **3.8%** in 2026. This easing pressure supports the expectation for further US and UK monetary policy rate declines, although the pace will vary. Commodities and Currencies Safe-haven assets have seen a major spike due to heightened geopolitical tensions, particularly regarding Iran. **Gold futures** have pushed past **\$5,385** per ounce, with **silver futures** surging over **10%** and trading above **\$117** per ounce, near a new all-time high. **West Texas Intermediate (WTI) crude oil** is up **1.5%** and trading around **\$63.35** a barrel, a four-month high, on supply disruption fears linked to Middle East tensions and a recent US winter storm that temporarily cut production. The **US Dollar Index (DXY)** is slightly higher at **96.39** but remains near a four-year low, making dollar-denominated commodities more attractive. In Asia, the **Indian Rupee (USD/INR)** recently hit a new low, closing at **91.99** against the US dollar. **Bitcoin** is trading around **\$89,400**. Geopolitics and Trade Trade tensions and shifting policies remain a significant headwind. Global trade growth is projected to slow to **2.2%** in 2026, down from the resilient **3.8%** seen in 2025. Rising tariffs and the reconfiguration of global value chains due to geopolitical shifts are impacting cross-border investment. Key diplomatic events, such as the **EU–India Summit** in New Delhi, are focused on concluding a major free trade agreement to reduce tariffs and boost investment in sectors like technology and energy.