U.S. stock futures edged lower as investors awaited earnings from major banks. JPMorgan reported a drop in fourth-quarter profit, impacted by its Apple credit card acquisition and concerns over Trump's proposed interest rate cap. Bank of America and Wells Fargo are also set to report.

China recorded a record trade surplus of $1.2 trillion in 2025, up 20% from the previous year. The shift reflects efforts to reroute exports away from the U.S. due to Trump-era tariffs, with increased shipments to the EU, Southeast Asia, Latin America, and Africa.

Gold hit an all-time high on expectations of Fed rate cuts and geopolitical tensions in Iran. Meanwhile, oil prices retreated slightly despite ongoing supply concerns. Investors are also watching for any commentary on Federal Reserve independence amid a criminal investigation into Chair Jerome Powell.