Markets on Edge: Earnings, Gold, and a Fed Shake Up

👋 Welcome Back Investors! (January 26 to 30, 2026)

This last trading week of January kept markets busy as investors reacted to a mix of global warnings, earnings results, and policy shifts. The United Nations raised alarms after warning of an imminent financial collapse, while earnings stayed in focus as the Magnificent Seven reported, with Apple posting record iPhone sales that still failed to lift its stock. At the same time, gold and silver sold off sharply after recent gains, catching investors off guard. Rounding out the week, President Trump named Kevin Warsh as his pick to replace Jerome Powell at the Federal Reserve, pushing markets to reassess the future path of interest rates and central bank leadership.

🔔 UN Warns of Imminent Financial Collapse

The United Nations this week delivered a stark warning that it faces an imminent financial collapse unless funding issues are resolved. Secretary-General António Guterres said the organization is running short on funds because many member states have fallen behind on payments they owe. Guterres told delegates that the UN is struggling to cover core functions, including peacekeeping, humanitarian aid, and development programs. Cash shortages have forced the organization to borrow just to pay salaries and basic operating costs. He said the current financing model is outdated and relies too heavily on a few countries paying late or not at all, creating a growing gap between commitments and available cash.

This warning drew global attention because the UN plays a central role in coordinating responses to conflicts, climate change, and humanitarian crises. If member states don’t act, key programs could be interrupted at a time when global cooperation remains critical.

📊 Magnificent Seven Earnings: Record iPhone Sales Don’t Lift Apple’s Stock

This week investors watched the Big Tech earnings cycle continue with the Magnificent Seven reporting results for the latest quarter. Apple delivered record iPhone sales but its share price barely moved after the announcement. The disconnect shows how much expectations already sit in stock prices. Investors wanted more than unit records, they wanted signs of margin expansion, strong services growth, and clear visibility on future demand. Other major tech names also reported mixed results, with some beating expectations and others falling short in key areas like software growth or cloud revenues. The takeaway for markets was clear: strong fundamentals matter, but investors remain cautious when growth slows or when outlooks don’t beat forecasts.

📉 Gold and Silver Sell Off

Gold and silver fell sharply this week after a powerful rally became overcrowded and unstable. Gold dropped close to 9 percent from its peak, while silver fell more than 11 percent, as investors rushed to lock in profits after months of fast, momentum-driven gains. The sell off started when U.S. equities, led by megacap tech, repriced violently, forcing investors to cut risk across portfolios. That de-risking pulled liquidity out of precious metals and triggered stop-losses, margin calls, and forced selling.

A stabilizing U.S. dollar and reduced expectations for near-term Fed rate cuts added pressure just as positioning peaked. This move was not manipulation and it did not break the long-term case for gold or silver. It marked a crowded trade unwinding. For investors, the message is simple. Volatility does not mean the thesis failed. For public mining companies, prices remain historically high, but markets now reward discipline, strong balance sheets, and realistic valuations over hype.

🏦 Trump Picks Kevin Warsh to Lead the Federal Reserve

President Trump named Kevin Warsh as his pick to replace Jerome Powell as chair of the Federal Reserve, putting a former Fed governor and longtime central bank critic back at the center of U.S. monetary policy. Warsh served at the Fed during the 2008 financial crisis and later warned that ultra-low rates and large asset purchases distort markets and fuel future instability. The pick matters because Warsh is seen as independent and cautious on inflation, not someone who will automatically push through aggressive rate cuts. Markets reacted by reassessing interest rate expectations and central bank independence, with investors now watching closely how Warsh would balance pressure from the White House against a divided Fed committee that remains focused on inflation data.

👀 Stocks to Watch: What This Week’s Moves Reveal

Markets moved through another choppy week as investors reacted to shifting rate expectations, global institutional stress, and sudden moves in commodities. From tech valuation pressure to financials and defensives adjusting to policy uncertainty, these four stocks stood out for what they signal about the broader market:

• Microsoft (MSFT | 8.5%) — Came under pressure despite strong earnings as investors focused on rising capital spending tied to AI and cloud infrastructure. The move showed that even high-quality tech names face scrutiny when costs grow faster than near-term returns.

• JPMorgan Chase (JPM | 1.6%) — Gained attention as financial stocks adjusted to changing expectations around the Federal Reserve. Banks remain sensitive to rate outlooks, but strong balance sheets and pricing power continue to support large institutions.

• Lockheed Martin (LMT | 9.0%) — Benefited from renewed focus on global defense spending as geopolitical risk stayed elevated. Defense stocks continue to act as relative safe havens when uncertainty rises.

• Freeport-McMoRan (FCX | 1.5%) — Slipped as gold and silver sold off sharply, dragging broader metals and mining names lower. The move highlighted how quickly momentum can reverse in commodities and the equities tied to them.

🛎️That’s a Wrap!

Markets closed the week with a cautious tone as investors balanced institutional warnings, earnings reality checks, and shifting policy expectations. A stark warning from the United Nations raised concerns about global financial strain, while Big Tech earnings reminded investors that strong results are no longer enough when valuations run high. At the same time, gold and silver pulled back sharply after crowded rallies, showing how quickly safe haven trades can unwind. Rounding out the week, President Trump’s pick of Kevin Warsh to lead the Federal Reserve added uncertainty around future rate policy and central bank independence. With volatility elevated and confidence being tested across markets and institutions, investors ended the week selective, focused on discipline, and watching policy signals closely.

Until then, stay focused and stay curious. Catch you next week 👋