Dow Jones Rises 588.64 Points as Trump Discusses Greenland
The major averages were broadly higher in a bounce-back from yesterday's sharp selloff after U.S. President Donald Trump said at the World Economic Forum in Davos that he won't use excessive force to acquire Greenland and that he is seeking immediate talks on the matter. Later in the session, Trump stated in a post on Truth Social that he won't impose planned February 1 tariffs after reaching a framework agreement on Greenland with NATO Secretary General Mark Rutte.Looking to commodities, gold prices pulled back from earlier sharp gains during the session, finishing mostly unchanged. Oil prices were fractionally higher ahead of the API crude numbers set for release this afternoon.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixreportedand provided FY26 revenue guidance, but said it will pause share buybacks to help fund its pending Warner Bros.acquisitionJohnson & Johnsonreportedbut provided a somewhat conservative FY26 outlookUnited Airlinesreportedand provided guidance for Q1 and FY26Smithfield FoodsNathan's Famousfor $102 per share in cashPresident Trump said at the World Economic Forum in Davos that he won't use excessive force to acquire Greenland and later said heplanned February 1 tariffs on NATO-linked countries2. WALL STREET CALLS:Okloto Buy at BofA after MetadealBiohavento Outperform at RBC CapitalCitiAbercrombie & Fitchon favorable risk/reward post selloffArmto Positive at Susquehanna following underperformanceCraig-HallumFlutterto Hold on accumulating transitory headwinds3. AROUND THE WEB:Appleis planning to revamp Siri intot its first AI chatbot code-named Campos, Bloomberg reportsEatonis mulling a sale or spinoff of its $5B vehicle unit, Bloomberg saysNvidiaCEO Jensen Huang is planning to travel to China in late January to attend company parties and potentially meet with senior Chinese officials, Bloomberg reportsAccording to Chief Technology Officer, CTO, Andrew Bosworth, Meta'snew AI lab has internally delivered its first AI models, Reuters saysKerrisdale Capital, in a research note, says the firm is short shares of Affirm, a "Buy Now, Pay Later" lender built "on the same subprime playbook that has undone monoline consumer finance companies for decades."4. MOVERS:Progress Softwarehigher afterand providing guidance for Q1 and FY26Lucid Groupincreases after Rockwell Automationannounced it will power the company'sLexicongains after completing the End-of-Phase 2 meeting withOcugenlower after announcing aAST SpaceMobilefalls after Blue Orirgin announced5. EARNINGS/GUIDANCETE Connectivity, with EPS and revenue beating consensusCitizens Financial, with CEO Bruce Van Saun commenting, "We are pleased to report good Q4 and full year results that reflect strong execution of our key growth initiatives"Teledyneand provided guidance for Q1Travelersand provided guidance for FY25, with CEO Alan Schnitzer commenting, "We are pleased to report excellent fourth quarter and full year results"Dananarrowed itsand provided its outlook for FY26INDEXES:The Dow rose 588.64, or 1.21%, to 49,077.23, the Nasdaq gained 270.50, or 1.18%, to 23,224.82, and the S&P 500 advanced 78.76, or 1.16%, to 6,875.62.
