Asian stocks follow Wall Street's rise while gold slips slightly

Asian Markets Edge Higher Following Positive U.S. Earnings

Asian stock markets mostly advanced on Tuesday, taking cues from modest gains in U.S. equities, which were lifted by encouraging corporate earnings.

Gold prices retreated slightly from their recent peak, dipping 0.2% to $5,071.70 per ounce. Silver also declined, falling 5.1% to $109.66 per ounce.

Regional Market Highlights

• Japan's Nikkei 225 climbed 0.6% to reach 53,188.39.
• South Korea's Kospi jumped 1.9% to 5,042.32, despite President Donald Trump's announcement of increased tariffs on South Korean imports due to a delayed trade agreement approval.
• Trump stated on social media that tariffs would rise on South Korean automobiles, lumber, and pharmaceuticals, with rates on other products increasing from 15% to 25%.
• Technology stocks, such as Samsung Electronics (up 2.9%), helped offset losses in the auto sector, where Kia Corp. dropped 2%.
• Chinese markets showed mixed results: Hong Kong's Hang Seng rose 1.1% to 27,055.65, the Shanghai Composite was nearly flat at 4,134.03, while Shenzhen's main index slipped 0.9%.
• Taiwan's Taiex gained 0.8%, whereas India's Sensex declined by 0.5%.

U.S. Market Futures and Recent Performance

Futures for the S&P 500 were up 0.3%, while Dow Jones futures edged down 0.1%.

On Monday, the S&P 500 advanced 0.5% to 6,950.23, recovering from last week's losses. The Dow Jones Industrial Average increased 0.6% to 49,412.40, and the Nasdaq composite added 0.4% to 23,601.36.

Key Events and Earnings to Watch

This week could bring further volatility to financial markets, with several major events on the horizon.

• The Federal Reserve is set to announce its interest rate decision on Wednesday, with expectations that rates will remain unchanged. The Fed has been gradually reducing its main rate and signaled the possibility of additional cuts in 2026 to support employment and stimulate economic growth.
• Inflation continues to exceed the Fed's 2% target, and lowering rates could potentially intensify inflationary pressures.
• Several tech giants are scheduled to report earnings: Meta Platforms, Microsoft, and Tesla on Wednesday, followed by Apple on Thursday.

Notable Stock Movements

• Baker Hughes surged 4.4% after surpassing profit expectations for the latest quarter, driven by robust demand for liquefied natural gas and other factors.
• CoreWeave jumped 5.7% after Nvidia announced a $2 billion investment and plans to help accelerate the expansion of CoreWeave’s AI infrastructure using Nvidia chips by 2030. Nvidia, however, slipped 0.6%.
• USA Rare Earth rallied 7.9% following news that the U.S. government will provide $277 million in federal funding to support the production of heavy rare earth elements, minerals, and magnets. The Trump administration also agreed to a proposed $1.3 billion loan, and the company secured an additional $1.5 billion from private investors.

Other Market Developments

Elsewhere on Wall Street, trading was relatively subdued. Airlines experienced mixed results as they grappled with thousands of flight cancellations caused by a severe winter storm across the United States. Delta Air Lines slipped 0.7%, while Southwest Airlines edged up 0.2%.

Early Tuesday, gold prices eased by 0.3% to $5,067 per ounce after rallying 2.1% on Monday and briefly surpassing $5,100 for the first time. Silver saw an even sharper increase, closing 14% higher and now trading around $109 per ounce.

Investors have been flocking to precious metals as safe havens amid ongoing concerns over tariffs, persistent inflation, political tensions, and mounting government debt worldwide.

Currency and Commodity Updates

• The U.S. dollar strengthened to 154.52 Japanese yen from 154.20 yen, while the euro slipped to $1.1873 from $1.1881.
• U.S. benchmark crude oil fell 35 cents to $60.28 a barrel. Brent crude, the global benchmark, declined 43 cents to $64.34 a barrel.

Reporting contributed by Matt Ott and Stan Choe, AP Business Writers.