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Market US stocks and bonds were closed on Monday, January 19th, in observance of Martin Luther King Jr. Day. International Oil Market: Oil prices held steady as concerns over Iranian supply eased, with the situation in Greenland becoming a focal point. Spot gold rose 1.63% to $4,670.87 per ounce, setting a new closing high. Trump's tariff threats impacted European markets, affecting everything from automotive stocks to credit markets.
Macro Trump is set to meet with global business leaders at Davos, with US policy being a key focus. Trump's Peace Council forms a group, offering permanent seats for $1 billion; Macron is expected to decline the invitation. Trump declined to specify whether he would use military force to acquire Greenland. Fed Chair Powell plans to attend a US Supreme Court hearing regarding the Cook case. Aircraft from NORAD are scheduled to arrive at the US military base in Greenland. Veuch will assume the role of Vice President at the European Central Bank. France's budget impasse nears its end as the Prime Minister opts to bypass a parliamentary vote. In the first year of Trump's second term, German investment in the US fell by nearly half. Germany plans effective countermeasures against potential further US tariff hikes. The UNDP will relocate nearly 400 positions from New York to Europe. A blizzard in Michigan, USA, triggered a multi-vehicle pileup involving hundreds of cars. Finnish President Stubb expressed concern that the Greenland issue could dominate the Davos annual meeting agenda. The Spanish train accident has resulted in 40 fatalities, with track welding issues being a primary focus of the investigation. Hamas stated it is prepared to transfer power and execute the handover procedures. France plans to convene a G-7 meeting on Wednesday to discuss US tariff threats.
Company OpenAI officially announced it will release hardware products within the year. An HSBC executive stated the company's market capitalization is approaching £300 billion. Trump's threats regarding Greenland have plunged European companies back into tariff uncertainty. Over the past year, Google's Gemini model licensing business experienced explosive growth. JPMorgan downgraded its rating on emerging market currencies, citing overbought short-term positions.
Commentary Live from Davos | What the business community discussed on the first day inside the 'American House'. If the Supreme Court overturns the tariffs, the Trump administration will swiftly introduce new tax measures. UK Foreign Secretary: There is no justification for pressuring Europe with tariffs. EU's Karas stated Europe has no intention of fighting the US but possesses a range of tools to protect its own interests. Financial markets are vigorously debating extreme retaliatory options, questioning whether Europe would truly weaponize its massive holdings of US assets. IMF Managing Director stated the Greenland dispute could curb economic growth, with the best solution being to find a path to agreement. As Trump aggressively pushes Greenland-related measures, investors are flocking to safe-haven assets, driving gold and silver prices to new historic highs. Canada's inflation rate rose to 2.4%, influenced by low base-year effects. Amid Trump's tariff threats, a more cautious Merz is attempting to moderate Macron's hardline stance. Deutsche Bank: Europe holds $8 trillion in US bonds and stocks, which could potentially be weaponized under tariff threats. Analyst: The tariff threat is a "win-win combination for all commodities." Research indicates 96% of the costs from Trump's tariffs are borne domestically within the US, akin to a consumption tax on the American public. Trump's threats to impose tariffs over the Greenland issue have reignited a rise in copper prices.
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