Winter storm disrupts travel as markets brace for a big earnings-and-Fed week

A powerful winter storm sweeping a wide swath of the United States disrupted daily life just as investors prepared for a consequential week for markets. Stock-index futures were little changed early Monday, January 26, 2026, with traders weighing upcoming earnings from large technology companies and the Federal Reserve’s next interest-rate decision.

The storm’s most immediate impact was on travel. Flight tracking data cited in market coverage showed tens of thousands of cancellations across the Saturday-to-Monday stretch, with the biggest pain centered on major Northeast hubs. Airlines faced not only operational stress but also fresh investor scrutiny as weather-driven disruptions added to a risk-heavy news cycle.

At the same time, safe-haven assets drew attention. Gold futures pushed through the $5,000-per-ounce threshold, reflecting elevated demand for perceived stability amid a mix of geopolitical, policy, and economic uncertainty. Analysts described a range of potential paths ahead, from continued upside if tensions persist to a pullback if conditions calm later in the year.

Trade headlines also fed volatility. President Donald Trump floated the possibility of new tariffs on Canadian imports in response to Canada’s recent deal with China, increasing questions about how trade policy could affect inflation, corporate margins, and cross-border supply chains—especially as the U.S., Canada, and Mexico head toward a USMCA renegotiation later in 2026.

On the corporate side, investors monitored signs of continued industrial-policy support for domestic supply chains. USA Rare Earth drew attention after reports and company statements pointed to new federal backing tied to the CHIPS program and related financing, adding another layer to the broader narrative: Washington is pushing to strengthen strategic industries while markets wait for the Fed and big-tech results.