Luke Vargas

Meta's off-hours rally has helped to push U.S.

stock futures higher this morning following similar gains in Europe, while Asian stocks ended the day mixed.

And we've got a lot more coverage of the day's news on the WSJ's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

FBI agents search a Georgia election office, part of a push to re-examine Trump's 2020 loss.

Plus the backstory on the medals rally that just won't quit.

And investors reward Meta for growing its digital ad revenue as big tech's AI costs pile up.

It's Thursday, January 29th.

I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today.

Gold has hit another record high, topping the $5,500 mark for the first time as the rush to precious metals continues.

After recording its strongest annual performance since 1979 last year, the World Gold Council said that global demand for the safe haven asset is expected to remain strong this year, driven by lower interest rates and persistent geopolitical risks.

Deputy Finance Editor Quinton Webb says the run-up in prices means a lot of different investors are trying to get in on the trade.

And gold isn't the only metal hitting new records this morning, with silver, copper, and palladium all rallying too.

Tech giants Meta and Microsoft reported earnings yesterday.

Both results topped analyst expectations, with Meta posting record Q4 sales growth and Microsoft blowing past net income forecasts.

But what ensued was a tale of two very different investor responses, as Meta shares popped in off-hours trading while Microsoft's fell.

Joining us to dissect the themes cropping up across this earnings season so far is State Street Investment Management's Altaf Qasim.

Altaf, Meta and Microsoft are both spending big on data centers, building out their respective AI capabilities, and both also signaled yesterday that trend is not going to end.

It's really going to play out through 2026.

Why then the mixed reaction on Wall Street?