Wall Street Stabilizes as Precious Metals Rebound, Asia Stocks Soar

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Wall Street Stabilizes as Precious Metals Rebound, Asia Stocks Soar/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Global markets showed renewed strength Tuesday, driven by record-breaking gains in Japan and South Korea and a sharp rebound in gold and silver. Wall Street futures rose as investors digested more earnings reports and steadied after last week’s sell-off. Tech stocks and precious metals fueled the recovery amid lingering economic uncertainty.

Specialists, from left, Dilip Patel, Glenn Carell, and Michael Pistillo work on the floor of the New York Stock Exchange, Monday, Feb. 2, 2026. (AP Photo/Richard Drew)

Markets Rally Quick Looks

Gold rebounds nearly 6%, silver surges 12% after steep sell-off.
Japan’s Nikkei 225 climbs 3.9% to all-time high; South Korea’s Kospi soars 6.8%.
Nasdaq futures rise 0.5%; S&P 500 futures up 0.3%; Dow futures flat.
Palantir jumps 12% after strong Q4 and bullish 2026 revenue forecast.
Pepsi dips despite beating estimates, citing snack price cuts to attract customers.
Asian markets lifted by tech sector optimism and AI-related rebounds.
Political expectations boost Japan’s markets ahead of February 8 election.
South Korean tech giants Samsung and SK Hynix post double-digit gains.
Australian central bank raises rates amid hotter-than-expected inflation.
European markets mixed; U.S. crude and Brent oil tick higher in early trading.

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 3, 2026. (AP Photo/Ahn Young-joon)

Deep Look: Global Markets Steady as Precious Metals Rebound, Asia Stocks Lead Surge

Global financial markets regained their footing Tuesday, led by explosive rallies in Japan and South Korea and a sharp recovery in gold and silver prices after recent turbulence. Wall Street appeared poised for a stable open as investors digested earnings and remained cautious amid shifting signals from central banks and geopolitical developments.

Wall Street Futures and Precious Metals

U.S. futures signaled a modestly positive tone before the market open. S&P 500 futures rose 0.3%, Nasdaq futures climbed 0.5%, and Dow Jones futures remained flat. This comes as gold jumped nearly 6% and silver rebounded 12%, reversing steep losses from Monday and Friday that had included a dramatic 31.4% collapse in silver’s price.

Analysts cited several factors behind the volatility in metals, including uncertainty over the Federal Reserve’s leadership following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair. Others pointed to leveraged investors liquidating positions after gold and silver surged earlier in the year.

Tech-Led Surge in Asia

The biggest gains were seen in Asia. South Korea’s Kospi rocketed 6.8% to an all-time high of 5,288.08, driven by renewed confidence in AI and tech stocks. Samsung Electronics led the way, up 11.4%, while SK Hynix soared 9.3%.

Japan’s Nikkei 225 index gained 3.9%, finishing at a record 54,720.66. Equipment makers like Disco Corp. (+7.4%) and Advantest (+7.1%) posted strong gains, reflecting broader tech optimism and investor expectations that Prime Minister Sanae Takaichi’s Liberal Democratic Party will score a decisive victory in the upcoming February 8 election.

While Japanese equities surged, analysts warned that increased fiscal stimulus could weaken the yen, creating potential headwinds for consumers and companies.

Earnings Spotlight: Palantir and Pepsi

In corporate news, Palantir Technologies rallied over 12% to $164.42 after beating Q4 sales and profit expectations. The AI software firm reported $4.48 billion in 2025 revenue and projected 60% growth for 2026, boosting investor confidence in the sector.

In contrast, PepsiCo shares slipped despite narrowly beating expectations. The snack and beverage giant announced plans to cut prices on popular items like Lay’s and Doritos in response to consumer pushback over inflation, signaling tighter margins ahead.

Global Market Recap

Hong Kong’s Hang Seng added 0.2% to 26,834.77.
Shanghai Composite gained 1.3% to 4,067.74.
Australia’s S&P/ASX 200 rose 0.9% to 8,857.10 after the Reserve Bank of Australia raised interest rates for the first time in two years, citing higher-than-expected inflation.

In Europe, the German DAX edged up 0.4%, France’s CAC 40 was flat, and Britain’s FTSE 100 dipped 0.5% as investors remained cautious amid global uncertainty.

Commodities and Currency Moves

In energy trading, U.S. crude added 25 cents to $62.39 a barrel, while Brent crude rose 16 cents to $66.46. The U.S. dollar strengthened slightly to 155.87 yen, while the euro increased to $1.1799.

Looking Ahead

The rebound in global markets shows renewed investor appetite for risk, particularly in AI and tech sectors, even as macroeconomic uncertainty continues to stir volatility. Traders are also watching closely for signals from central banks, especially the Federal Reserve, as leadership changes and inflation fears shape expectations for future policy moves.