By Ed Ballard
Precious metals rallied early Wednesday, while stock futures dropped as more bank earnings rolled in.
Bank of America, Wells Fargo and Citi are posting results this morning, when a gauge of wholesale inflation is also due. Financial stocks weighed on indexes on Tuesday after JPMorgan posted lower profit and a surprise drop in investment-banking fees.
The Supreme Court has indicated it will issue rulings on Wednesday. These could include a decision on the legality of President Trump's sweeping tariffs, but the court doesn't say ahead of time which specific decisions it plans to announce.
Public appearances by five senior Federal Reserve officials may garner extra attention in the wake of the investigation into Fed Chair Jerome Powell. Central bankers and JPMorgan CEO Jamie Dimon have defended Powell and the Fed's independence this week.
Gold and silver futures both hit intraday record highs, with the latter shooting up over 4% to top $90 a troy ounce. Copper futures also hit an all-time peak in New York.
In other markets:
-- Japan's Nikkei 225 extended its rally, closing at another record high. South Korea's Kospi composite also hit an all-time peak.
-- Oil futures extended Tuesday's gains that came after Trump appeared to hint at the U.S. intervening in Iran's upheaval.
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(END) Dow Jones Newswires
January 14, 2026 07:12 ET (12:12 GMT)
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