Markets opened quietly on a snowy Monday morning, with stock index futures stabilizing after weekend weakness while commodities continued to surge. Gold and silver hit historic highs, energy prices climbed, and natural gas strength offered support to Canadian markets. Investors are watching key events this week, including a Federal Reserve meeting, major tech earnings, and a potential U.S. government shutdown, all of which could increase volatility.
Equity markets showed signs of recovery, with possible new buy signals forming in major U.S. indexes, while financial stocks remained a drag. Strength continued in gold, energy, and select micro- and small-cap stocks, while Bitcoin and Ethereum traded slightly lower. Overall, the outlook suggested a cautious but constructive start to the week amid weather disruptions and global uncertainty.
Stephen Whiteside
Monday, January 26, 2026
