Softer jobs data lifts US markets; gold prices hit record high level amid rising geopolitical tensions

The US markets ended higher on Friday with the Dow and the S&P 500 reaching new record closing highs. The strength on Wall Street reflected a positive reaction to the release of the Labour Department's closely watched report on employment in December. With the report showing employment increased by less than expected in December, the data has led to some optimism about the outlook for interest rates.

Dow Jones surged 237.96 points or 0.48% to 49,504.07, S&P 500 rose 44.82 points or 0.65% to 6,966.28 and NASDAQ increased 191.33 points or 0.82% to 23,671.35

The Labour Department said non-farm payroll employment rose by 50,000 jobs in December after climbing by a downwardly revised 56,000 jobs in November. Traders also took support with a report released by the University of Michigan showed consumer sentiment in the U.S. has improved slightly more than expected in the month of January.

On the other hand, the gold prices jumped over 1.5% in the early morning on Monday on softer US labor data and rising geopolitical tensions between the US and Venezuela, and an uprising in Iran. The gold prices traded at $4,578 per ounce on Monday morning, gaining nearly 6% in the first 10 days of 2026.

Credit card lenders will be in Focus in Monday's trading session after President Trump annoucned cap on the credit card interest at 10% per annum. Shares of lenders like JP Morgan Chase, American Express, Citi Group and Bank of America will also remain in focus as key banking names to start reporting quarterly earnings report.

The US market futures plunged on Monday morning after chasing record highs in the previous week, heightened geopolitcal risks and concerns over Federal Reserve's independance. Federal Reserve got subpoenaed by Department of Justice with threats of criminal indictment, said the Fed chai Jerome Powell.

The NASDAQ futures traded 170 points of 0.69% lower, followed by Dow Jone futures traded 217 points or 0.44% lower at 8:00 am IST on Monday.