**Global Market Brief • Saturday, January 31, 2026** **🇺🇸 US Equities & Fed Leadership** Wall Street closed the week on a mixed note as investors weighed tech earnings against shifting political winds. The **Dow Jones** edged up **0.1%** to finish at **49,072**, while the **S&P 500** slipped roughly **0.1%** to **6,969**. The tech-heavy **Nasdaq** underperformed, dropping **0.7%** to **23,685**. This decline was driven largely by **Microsoft**, which slid nearly **10%** after issuing soft guidance for its cloud division. Conversely, **Apple** shares gained **0.7%** in extended trading after beating quarterly revenue estimates on strong iPhone demand. Market sentiment tightened on reports that President Trump is preparing to nominate former Fed Governor **Kevin Warsh** as the next Federal Reserve Chair. Viewed as a "hawkish insider," the news triggered a rally in the **US Dollar** and placed pressure on risk assets. **📉 Commodities Plunge** After hitting record highs earlier in the week, **Gold** experienced a sharp correction on Friday due to aggressive profit-taking and dollar strength. Prices tumbled significantly, testing the **$5,000/oz** psychological support level (down from a peak near **$5,600**). despite the drop, the metal remains on track for its strongest monthly gain since the 1980s. **Oil prices** retreated approximately **2%** as geopolitical risk premiums eased. Markets reacted to signals of potential diplomatic talks between the US and Iran, dampening immediate fears of supply disruptions. **₿ Crypto Volatility** Digital assets faced renewed selling pressure over the weekend. **Bitcoin** dipped below the **$83,000** mark, trading near **$82,950** as of Saturday afternoon. The pullback coincides with the stronger dollar and uncertainty regarding the incoming Fed leadership's policy stance. **🌏 Global Outlook** Asian markets ended the week mixed. Hong Kong's **Hang Seng** added **0.5%** on fresh policy support for property developers, while Japan's **Nikkei** remained flat. Attention now shifts to next week's manufacturing data and official confirmation of the US Federal Reserve nomination.