Gold Extends Record Rally, US Stock Futures Drop: Markets Wrap

Market Overview - Gold prices surged for the ninth consecutive day, surpassing $5,550, driven by rising geopolitical tensions and expectations of Federal Reserve easing, with a year-to-date increase of 27% [1][2] - Silver reached an all-time high, climbing nearly 1% as precious metals continued their rapid ascent [2] - West Texas Intermediate crude oil rose to its highest level since September, influenced by President Trump's warning to Iran regarding nuclear negotiations [2][3] Federal Reserve and Economic Indicators - The Federal Open Market Committee voted 10-2 to maintain the federal funds rate in a range of 3.5%-3.75%, indicating a tight consensus among officials [8] - Fed Chair Jerome Powell did not signal any imminent rate cuts, suggesting a wait-and-see approach as the labor market stabilizes and inflation remains steady [7][9] - The yield on 10-year Treasuries remained stable at 4.24% following the Fed's decision [7][12] Corporate Highlights - Microsoft reported a record high in spending, with concerns over the slower growth of cloud sales impacting its stock [10] - Meta's strong advertising performance allowed for increased investment in artificial intelligence, boosting its current-quarter outlook [10] - Samsung's chip unit exceeded expectations with a more than five-fold profit increase, attributed to the AI boom, and announced a $2.5 billion buyback [12] - Amazon is cutting 16,000 corporate jobs to streamline operations, while Tesla plans to invest $2 billion in Elon Musk's AI company, xAI, after reporting higher-than-expected profits [12]