S&P 500, Dow, Nasdaq surged today as Apple, Meta, and Microsoft led gains, while Trump’s Canada tariff threat pushed gold to hit record high

Market Performance - US stocks closed higher on Monday, with the S&P 500 rising 0.50% to 6,950.23, the Dow Jones Industrial Average gaining 313.69 points (0.64%) to 49,412.40, and the Nasdaq Composite adding 0.43% to 23,601.36 [1][17] - Strength in large technology stocks, particularly Apple (up about 3%), Meta Platforms (up roughly 2%), and Microsoft (up around 1%), contributed to the market rally ahead of their earnings reports [2][13] Political Developments - President Trump threatened a potential 100% tariff on goods imported from Canada if Canada negotiates a trade deal with China, which Canadian Prime Minister Mark Carney responded to by stating that Ottawa has "no intention" of such negotiations [3][4] - Despite the tariff threat, market sentiment appears stable, with analysts noting that investors are not overly concerned about its realization [4] Economic Indicators - Concerns about a potential government shutdown arose after federal immigration agents fatally shot a US citizen, leading to increased political uncertainty [6][7] - Gold prices surged to a record high, briefly surpassing $5,100 per ounce, as investors sought safe-haven assets amid rising political and fiscal risks [9][14] Earnings Season - The earnings season is set to intensify, with over 90 S&P 500 companies scheduled to report results, including major tech firms like Meta, Tesla, Microsoft, and Apple [10] - So far, 76% of reporting companies have exceeded earnings expectations, although some stocks, such as Intel and Netflix, have declined despite positive results [10] Federal Reserve Outlook - The Federal Reserve is expected to announce its first interest rate decision of the year, with markets anticipating rates to remain unchanged, while looking for clues on future rate cuts [11] - Current market pricing suggests two quarter-point rate cuts by the end of 2026 [11] Market Sentiment - Following a losing week, where the S&P 500 fell about 0.4%, market sentiment improved slightly towards the end of the week after positive developments regarding a deal framework involving Greenland [12][17]