On Monday, TSX futures remained subdued, reflecting investor concern over falling precious metal prices. This follows a steep drop in gold and silver, which saw significant declines on Friday. The S&P/TSX composite index experienced its worst one-day fall since last April, ending January with a modest gain of 0.7%, after a strong run of nine consecutive monthly climbs.

U.S. stock futures also declined, affected by the precious metals selloff and ahead of a week packed with corporate earnings reports. The Federal Reserve chair nomination of Kevin Warsh weighed on markets, potentially leading to tighter financial conditions. Analysts are focused on the Fed's balance sheet, and how Warsh might influence it, which adds to market uncertainty.

The decline in gold and silver prices, coupled with a stronger dollar, has dampened market sentiment. The precious metals experienced a sharp fall, with gold dropping below $5,000. Investors are also closely watching the upcoming U.S. employment report. This week's earnings season will also see reports from tech giants like Amazon and Alphabet.

Oil prices also dipped as tensions with Iran eased. Given the mixed signals, investors are likely to remain cautious. The market is also looking at how the earnings season will play out, especially in the tech sector, and how the Fed's next steps will influence the markets.