Charles Schwab is up 6% so far in premarket following a set of fourth quarter results that largely beat expectations.

Here are the top line numbers:

• Adj earnings per-share $1.01 (est $0.91)

• Rev $5.33B (est $5.19B)

• Total Client Assets $10.10T (est $10.17T)

• Net Interest Rev $2.53B (est $2.43B)

• Bank Deposits $259.1B (est 250.9B

Gold prices surged to over a two-month high on Tuesday before correcting after Trump's first day in office.

The spot price of gold was muted at $2,723.02 per ounce, while gold futures slipped 0.5% to $2,733.50 per ounce.

Trump has pledged to impose new trade tariffs on its neighbouring countries, and China to bring down its trade deficit. This could provide renewed strength to the dollar, thereby affecting gold prices.

"I believe Donald Trump will result in higher market volatility, while some of his policies might keep inflation higher for longer. This should continue to support safe-haven assets like gold," UBS analyst Giovanni Staunovo said.

A weaker dollar usually drives gold prices higher because it makes the metal cheaper for buyers using other currencies.

"The markets remain firmly in risk-off mode so I would expect any gold price dips to catch bids," said StoneX analyst Rhona O'Connell.

Gold has been viewed as a safe haven during times of economic turmoil. Investors tend to flock to the precious metal during crises, seeking to preserve wealth and hedge against inflation.

"Gold's status as a financial asset makes it likely exempt from broad-based tariffs, and we therefore assign a 10% probability to a 10% effective tariff on gold being introduced within the next 12 months," Goldman Sachs said.

Read more on Yahoo Finance UK

Streaming giant Netflix is due to report its fiscal fourth quarter earnings on Tuesday after the market close, and shares were up nearly 1% in pre-market trading, as analysts expect the company to deliver strong results.

According to Bloomberg consensus estimates, analysts expect Netflix to report revenue of $10.11bn (£8.25bn), which would be slightly below the company's guidance of $10.13bn but higher than the $8.83bn it posted last year.

Wall Street is expecting earnings per share of $4.18, which would also be lower than Netflix's guidance of $4.23, but up on the $2.11 it reported in the fourth quarter of 2023. Analysts anticipate the company to report net subscriber additions of 9.18 million for the quarter, which would be lower than 13.12 million in the same period last year.

Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance last week that the fourth quarter results "typically... tend[ing] to do really, really well, but really I think this time around sports is dominating the narrative" as the streaming platform leans more into live entertainment content.

Here's the update from LiveSquawk:

Timo Lehes, co-founder of crypto fintech Swarm, writes:

Pedro Goncalves writes:

Oil prices retreated after Trump revealed plans to boost US oil and gas production by declaring a national emergency.

Brent crude futures lost 1.6% to $79.49 per barrel, while US West Texas Intermediate (WTI) crude slipped by the same margin to $76.75.

Trump revealed a comprehensive initiative to fast-track permitting oil, gas, and power projects, raising concerns about a further surge in US production — already at record highs. Such a policy shift could exacerbate the competitive pressure on global markets, though it may also strengthen America's energy security.

Trump also hinted that the US is likely to halt oil purchases from Venezuela, where it is currently the second-largest buyer after China. This move could further shift the balance of global supply, with US refiners forced to seek alternative sources.

Meanwhile, production in North Dakota, a key US oil-producing state, has taken a hit due to extreme cold weather, with output falling by an estimated 125,000 to 150,000 barrels per day, according to the state’s pipeline authority. The weather-induced disruption adds an additional layer of uncertainty to market dynamics.

We could be in for a volatile week as Trump takes office.

Russ Mould, investment director at AJ Bell, said:

Rachel Reeves has headed to Davos for the World Economic Forum to meet banking bosses and tout the UK as an investment opportunity, PA reported.

Business secretary Jonathan Reynolds will also meet with corporate chiefs and foreign trade ministers.

Reeves said:

The top gainers as the index owners are banking stocks.

Vicky McKeever writes:

As new data gives an optimistic outlook for the UK property market in 2025, here are some of stocks that could benefit from the sector's rebound.

The latest closely-watched survey from the Royal Institution from the Chartered Surveyors (RICS), published on Thursday, showed that many estate agents and other professionals in the sector expect property sales and house prices to rise in 2025.

A net balance of 37% of respondents to the December survey said they foresaw sales activity rising over the next 12 months, while a net balance of 53% envisaged prices climbing higher over the year ahead.

Read more on Yahoo Finance UK

Stocks are trading cautiously higher in US premarket.

Markets were closed in the US on Monday for MLK day. It was also Donald Trump's inauguration as president, which went off without a hitch.

Among his first moves have been to block the TikTok ban and hint at new tariffs on neighbouring countries.

"We are thinking in terms of 25% on Mexico and Canada," he said while signing a slew of executive orders in the Oval Office, and added that they could happen soon.

"I think we are going to do it on February 1," he said.

He also suggested that blanket tariffs remain on the table but could be farther off, saying all countries rip off the United States to some extent.

Hello from London. Lucy Harley-McKeown here ready to bring you the latest business and markets news of the day.

This morning we've already had UK jobs data — usually a signal for what will come up at the next Bank of England rate setting meeting.

At 10am, Germany's ZEW economic sentiment index is released.

The World Economic Forum also kicks off in Switzerland today, so expect some world leader-related headlines.

Let's get to it.