Wednesday, January 21st, 2026
President Trump announced at the World Economic Forum in Davos that the U.S. will not pursue military force to annex Greenland, resulting in an immediate gain of 200 points for the Dow Jones Industrial Average. Later in the day, the Dow finished up 588 points (+1.21%), with the S&P 500 rising 78 points (+1.16%) and the Nasdaq gaining 270 points (+1.18%). The small-cap Russell 2000 saw a significant increase of 52 points (+2.00%).
The market’s fluctuation was further influenced by Trump’s deal with NATO regarding tariffs related to the Greenland situation, paired with favorable earnings reports during Q4 earnings season. The upcoming release of the November Personal Consumption Expenditures (PCE) report is expected to show a year-over-year inflation rate of +2.8%, while the first revision of Q3 GDP is projected to remain at +4.3%. Weekly Jobless Claims are anticipated to be around +200,000, reflecting a stable labor market.
