**Global Market Snapshot: Thursday, Jan 29, 2026** **US Markets & Fed Policy** Wall Street closed mixed Wednesday as the Federal Reserve held interest rates steady at **3.50%–3.75%**. Chairman Powell signaled no immediate rush to cut, citing resilient employment data. * **S&P 500:** Flat at 6,978. * **Nasdaq:** Up **0.3%** to 23,857. * **Dow Jones:** Flat at 49,015. **Tech Earnings Volatility** "Magnificent Seven" earnings are driving sharp divergence: * **Meta:** Surged **7%** post-market on strong revenue outlook. * **Microsoft:** Slid **7%** as rising AI infrastructure costs weighed on sentiment. * **Tesla:** Edged higher after beating earnings estimates. **Asian & Indian Markets** Asian equities are trading cautiously today (Thursday). The **Nikkei 225** and **Hang Seng** both dipped ~0.2% in early trade. * **India:** Nifty and Sensex opened **0.5% lower**, snapping a two-day rally. * **Key Driver:** Investors are bracing for the **Economic Survey 2025-26** (tabled today at 11:00 AM IST) and the upcoming Union Budget on Sunday, Feb 1. **Commodities: Gold & Oil Surge** Geopolitical tensions involving Iran and a softer US dollar have triggered a massive flight to safety. * **Gold:** Hitting historic highs, breaching **$5,300/oz** globally (approx. ₹1.67 Lakh/10g in India). * **Oil:** Brent Crude climbing toward **$69/barrel**; WTI near $64 amid fears of supply disruption in the Middle East. **Crypto & Currency** * **Bitcoin:** Holding steady around **$89,400** as the US administration pushes its "crypto capital" agenda. * **Currency:** The US Dollar Index (DXY) remains under pressure, hovering near four-year lows. **Events to Watch Today** * **India:** Economic Survey presentation. * **US:** Initial Jobless Claims data (8:30 AM ET).