markets

Nate Becker1/21/26

Stocks jump as Trump backs off European tariff threats, says “I won’t use force” to acquire Greenland

US President Donald Trump said he wouldn’t slap tariffs on several European countries after reaching what he called “the framework of a future deal” on Greenland with NATO’s secretary general.

Stocks extended their gains for the day on the news, having already been up earlier in the day when Trump said in a Davos, Switzerland, speech that he wouldn’t use force to acquire Greenland.

“Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st,” Trump wrote on Truth social Wednesday afternoon. “Additional discussions are being held concerning The Golden Dome as it pertains to Greenland. Further information will be made available as discussions progress.”

Trump’s threats to acquire Greenland had put markets on edge in recent days, including a sharp drop on Tuesday.

Trump told a Davos crowd earlier Wednesday: “We probably won't get anything unless I decide to use excessive strength and force, where we would be frankly unstoppable, but I won’t do that... People thought I would use force. I don’t have to use force. I don’t want to use force. I won’t use force.”

He seemed to indicate that Denmark, which owns Greenland, could rebuff the US’s overtures to acquire the country without military retaliation.

“They have a choice. You can say yes and we will be very appreciative. Or you can say no and we will remember,” he said. Throughout his speech, Trump constantly reiterated his desire for the US to own Greenland.

The S&P 500 was up 1.5% while the Nasdaq 100 was up 1.7% as of 2:50 p.m. ET.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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