U.S. stock futures traded mixed on Monday morning, as investors look forward to Big Tech earnings this week, including reports from Microsoft (MSFT), Meta Platforms (META), and Apple (AAPL). Electric vehicle (EV) maker Tesla (TSLA) will also announce its Q4 2025 results this week. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were down 0.23% and 0.06%, respectively, while futures tied to the Dow Jones Industrial Average (DJIA) were up by 0.02% at 8:15 a.m. EST on January 26.
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Interestingly, gold touched a fresh all-time high, crossing $5,100 an ounce on Monday. The yellow metal extended its stellar run as investors favored the safe-haven asset amid geopolitical woes related to Greenland and Venezuela, as well as global volatility. Moreover, the trade tensions between the U.S. and Canada have resurfaced. U.S. President Donald Trump threatened to slap 100% tariffs on Canada if it signs a trade deal with China. However, Canadian Prime Minister Mark Carney said on Sunday that his country has no intention of entering into a free trade agreement with Beijing.
All eyes are on key earnings reports from over 90 S&P 500 companies this week, including Microsoft, Meta Platforms, Apple, and Tesla. Other major earnings include reports from Boeing (BA), UnitedHealth (UNH), AT&T (T), International Business Machines (IBM), Starbucks (SBUX), ASML Holding (ASML), ServiceNow (NOW), Visa (V), Mastercard (MA), SoFi Technologies (SOFI), Exxon Mobil (XOM), and Chevron (CVX).
Investors will also focus on the U.S. Federal Reserve’s first policy decision of 2026 on Wednesday. While the central bank is expected to keep its overnight rate intact, traders will look for insights into the Fed officials’ plans for potential rate cuts ahead.
Turning to trending stocks, USA Rare Earth (USAR) shares surged 14% in Monday’s pre-market trading after the Trump administration took a stake in the rare earths miner. The company will issue 16.1 million shares of common stock and 17.6 million shares in warrants. Also, Allied Gold ($AAUC ) stock was up about 4%, as the gold miner agreed to be acquired by Hong Kong-based Zijin Gold for C$5.5 billion in cash.
Additionally, Newmont (NEM) stock was up 4.6% in pre-market trading as gold prices continued to trend higher amid geopolitical uncertainty. In contrast, Enphase Energy (ENPH) shares declined more than 2% after the solar energy company said that it would cut its workforce by more than 5%. Plus, Revolution Medicines (RVMD) stock plunged nearly 20% after the Wall Street Journal reported that Merck ended its talks to acquire the cancer-drug biotech.
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