Markets steady ahead of Fed decision as gold tops $5,000 and storms disrupt travel

U.S. markets opened a pivotal week with stock futures little changed as investors prepared for a Federal Reserve rate decision and a heavy slate of corporate earnings, including major technology reports. Traders signaled caution after recent volatility driven by geopolitical tensions and shifting trade policy expectations.

Gold extended its surge, with futures breaking above $5,000 per ounce, as investors sought perceived safety amid political and economic uncertainty. The move came alongside strength in other precious metals, as rising demand and risk aversion pushed prices to new records and kept attention on inflation hedges.

Travel disruption added another layer of uncertainty for the economy. A severe winter storm affected a wide swath of the United States, triggering mass flight cancellations and forcing many travelers to rebook. The impact was especially visible at major East Coast hubs, where snow and ice complicated schedules and staffing.

Trade rhetoric also remained in focus. President Donald Trump renewed tariff threats, including warnings tied to Canadian imports, after Canada’s trade dealings with China became a political flashpoint. The possibility of escalation has kept companies and investors attentive to how quickly costs could rise for cross-border supply chains.

Meanwhile, pockets of the market reacted strongly to policy-linked industrial news. Shares of USA Rare Earths jumped after the company disclosed new government funding and potential federal involvement as part of a broader effort to strengthen domestic supply chains tied to critical minerals and advanced manufacturing.

With the Fed meeting and earnings reports still ahead, investors are weighing whether economic growth can stay resilient while policy risk remains elevated. The week’s direction may hinge on guidance from large firms and on whether the central bank signals a tighter or more flexible path in the months ahead.