EU Suspends US Tariffs, Riedel Emerges as Fed Chair Candidate; Global Safe-Haven Surge.

EU Delays Tariffs on $93 Billion of US Goods

The European Union has decided to postpone its plan to impose retaliatory tariffs on $93 billion worth of US goods for an additional six months. This decision follows former President Trump's withdrawal of threats against EU countries opposing his acquisition of Greenland. Olof Gill, a spokesperson for the European Commission, stated that the commission intends to propose an extension of the suspension period, originally set to expire on February 7.

Gill emphasized the preference for achieving goals through diplomatic means rather than escalating into a cycle of measures and countermeasures. The suspension can be reinstated at any time if necessary.

BlackRock Executive as Potential Successor to Fed Chair

Rick Rieder, a senior executive at BlackRock, has emerged as a leading candidate to succeed Federal Reserve Chair Jay Powell, according to Polymarket. Rieder's odds have risen to 34% following Trump's indication of a decision in the near future. He manages $2.4 trillion in assets and has expressed concerns about high borrowing costs and the struggling real estate market.

Economic Indicators and Consumer Confidence

The American Chamber of Commerce's leading economic indicators have shown a decline in October and November, primarily driven by weak consumer confidence. Despite a projected GDP growth of 4.4% in Q3 2025, leading indicators suggest a potential slowdown in the US economy in 2026.

Greenland Negotiations and US-EU Relations

Trump has stated that negotiations regarding US sovereignty over military facilities in Greenland are progressing well. However, Greenland has firmly opposed any sovereignty claims, marking a significant point of tension in US-EU relations.

Market Reactions and Stock Performance

On Wall Street, the three major indices showed mixed results, with the Nasdaq slightly up while Intel's stock plummeted by 17% after disappointing earnings guidance.

Silver and Gold Prices Surge Amid Geopolitical Tensions

Silver prices have surpassed $100 per ounce for the first time, while gold has reached $5,000 per ounce, driven by geopolitical instability and expectations of interest rate cuts in the US. Analysts suggest that these precious metals will continue to benefit from various supportive factors.

Intel's Disappointing Earnings and Future Outlook

Intel's stock fell sharply after the company provided a weaker-than-expected earnings forecast. Analysts have expressed concerns about the company's ability to improve margins in the short term, despite potential price increases for server CPUs.

Apple Faces Longest Losing Streak Since 2022

Apple has experienced its longest losing streak since May 2022, with significant outflows compared to other tech giants. Despite this, Goldman Sachs remains optimistic about Apple's upcoming earnings report.

UBS to Offer Cryptocurrency Investment Services

UBS is planning to provide cryptocurrency investment services to select private banking clients, marking a significant shift in its stance towards digital assets.

Conclusion

The current economic landscape is marked by geopolitical tensions, fluctuating stock performances, and evolving market strategies among major corporations. Investors are advised to stay informed on these developments as they could significantly impact market dynamics.