US futures fall and world shares are mixed as markets await Trump's word
on replacing Fed chief
[January 30, 2026] By
ELAINE KURTENBACH
U.S. futures dropped while European shares opened higher on Friday after
markets retreated in Asia ahead of a possible announcement by U.S.
President Donald Trump on his nominee to replace Jerome Powell as chair
of the Federal Reserve.
Oil prices dropped and the prices of gold and silver weakened.
The future for the S&P 500 sank 0.8% while that for the Dow Jones
Industrial Average was 0.7% lower.
Trump chose Powell to led the U.S. central bank in 2017 but has
relentlessly assailed him for not cutting interest rates quickly as
quickly as the president would like. The appointment to replace him must
be confirmed by the Senate.
In early European trading, Germany's DAX picked up 0.8% to 24,506.41,
while the CAC 40 in Paris advanced 0.4% to 8,107.50. Britain's FTSE 100
edged 0.2% higher, to 10,189.05.
The CEO of Indonesia's stock market, Imam Rachman, resigned Friday “As
part of a commitment toward recent market conditions,” the exchange said
in an announcement.
Jakarta's benchmark gained 1.2% following news of his resignation. It
had been trading at all-time highs but sank 7.4% on Wednesday and 1.1%
on Thursday after MSCI, a U.S. provider of global equity, fixed income
and real estate indices, warned about market risks such as a lack of
transparency.
Chinese markets retreated, with the Hang Seng in Hong Kong shedding 2.1%
to 27,387.11. Shares in major ports operator CK Hutchison Holdings
dropped 4.6% after Panama’s Supreme Court ruled that the concession held
by a subsidiary to operate ports at either end of the Panama Canal was
unconstitutional.
That advanced a U.S. effort to block any influence by China over the
strategic waterway.
The Shanghai Composite index slipped 1% to 4,117.95.
Tokyo's Nikkei 225 fell back, losing 0.1% to 53,322.85 as stocks related
to artificial intelligence declined. Testing equipment maker Advantest
lost 4.5% and computer chip equipment maker Disco Corp. lost 1.7%.
South Korea's Kospi gave up most of its gains late in the session,
edging just 0.1% higher to 5,224.36 after the Yonhap News Agency
reported that a first day of talks with U.S. Commerce Secretary Howard
Lutnick aimed at resolving trade tensions had not yielded an agreement.
The talks are due to continue Friday.
Earlier this week, President Donald Trump said he planned to raise
tariffs on South Korean exports if the U.S. ally did not swiftly ratify
a trade agreement worked out months ago.
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A man walks past an electronic board displaying stock prices and
Jakarta Stock Exchange Composite Index, at the Indonesia Stock
Exchange in Jakarta, Indonesia, Wednesday, Jan. 28, 2026. (AP Photo/Tatan
Syuflana)
 In Australia, the S&P/ASX 200
declined 0.7% to 8,869.10.
Taiwan's benchmark lost 1.5%, while India's Sensex fell 0.3%.
On Thursday, U.S. stocks finished with relatively modest moves.
The S&P 500 slipped 0.1% after flirting with its record high in the
morning and dropping by as much as 1.5% later in the day. The Dow
Jones Industrial Average rose 0.1% and the Nasdaq composite fell
0.7%.
Investors will likely focus on the Fed and who is to lead it, though
earnings are also a major driver of market activity this week.
Companies are under pressure to deliver solid growth in profits
following record-setting runs for their stock prices.
In other dealings early Friday, the price of gold slipped 5% after
it rallied briefly to nearly $5,600 on Thursday. Gold’s price topped
$5,000 for the first time just this week.
Silver, which has been zooming higher in its own feverish run,
tumbled 11%.
Prices for precious metals have been surging as investors look for
safer investments while weighing a wide range of risks, including a
U.S. stock market that critics say is expensive, political
instability, threats of tariffs and heavy debt loads for governments
worldwide.
The U.S. dollar has seen its value sink over the last year because
of many of the same risks that drove gold’s price higher. Early
Friday, the dollar was trading at 154.14 Japanese yen, up from
153.09 yen. The euro slipped to $1.1922 from $1.1971.
Oil prices slipped after jumping more than 3% on Thursday due to
worries about tensions between the United States and Iran, which
could ultimately constrict the flow of crude. Defense Secretary Pete
Hegseth warned the U.S. military “will be prepared to deliver
whatever the president expects,” just a day after President Donald
Trump told Iran to “make a deal” on its nuclear program.
U.S. benchmark crude oil lost 59 cents to $64.83 per barrel. Brent
crude, the international standard, shed 61 cents to $68.98 per
barrel.
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