The world seems to have turned upside down this morning, moving from crossfire to messages of détente in less than 24 hours. Two issues appear destined to cool down after having caused distressing earthquakes: Greenland on one side, Ukraine on the other. The stock markets started celebrating already last night at New York and they continue this morning in Asia, show the return of affection for technology stocks, with South Korea turning above 5.000 points. Even the European stock exchanges are seen opening with a strong rebound, as investors move away from safe haven assets such as gold and silver. However, the lack of details Yesterday's deals suggest investors should be cautious, and in fact, stock gains have not fully recovered the week's losses, and the declines in precious metals are not that significant either.
Trump reconsiders Greenland: no tariffs or use of force
US President Donald Trump has abruptly made backtrack on threats to impose tariffs as leverage to seize the Greenland, has excluded theuse of force and hinted that an agreement was in sight to end a dispute over Danish territory that threatened the deepest rupture in transatlantic relations in decades. No details were provided.
After the meeting with the NATO Secretary General Mark Rutte In Davos, Trump said that Western Arctic allies could enter into a new agreement on Greenland, which satisfies his desire for a “Golden Dome” missile defense system and access to essential minerals, while blocking the Russia and China's ambitions in the Arctic“This is an agreement that everyone is very pleased with,” Trump told reporters. “It's a long-term agreement. It puts everyone in a good position, especially when it comes to security and minerals.” Rutte He then said that the question of whether Greenland should remain with Denmark had not been raised in his talks with Trump. "This issue did not come up again in my conversations with the president this evening," Rutte said in an interview on the program "Special Report with Bret Baier" on Fox News.
“He (Trump) is very focused on what we need to do to ensure that that vast Arctic region, where changes are taking place right now and where Chinese and Russians are increasingly active, may be protected.”
Putin will discuss peace in Ukraine with U.S. envoys today. Trump: An agreement is relatively close.
But this morning a conciliatory message also arrived regarding the dossier UkraineRussian President Vladimir Putin Putin will meet with US envoys in Moscow today Steve Witkoff and Jared Kushner to discuss a possible peace plan for Ukraine, and Trump said that an agreement to end the war is “reasonably close.”
Putin, speaking yesterday evening at a meeting of the Russian Security Council, also said that he also wants to continue the dialogue with the US envoys on Trump's idea of a “Board of Peace” and on the possibility of using the Russian assets frozen.
Gold deflates, but Goldman Sachs sees it at $5.400 within the year
Precious metals fell after messages of easing from the Greenland front, but not significantly, while the rise could continue due to investment diversification, according to analysts. is about $100 an ounce below its all-time high and up 11% this year, while thesilver, also below recent all-time highs, is up 30%. However Goldman Sachs raised his gold price forecast by the end of 2026 at $5.400 an ounce compared to its previous estimate of $4.900 an ounce, underscoring the investment diversification in gold by central banks, the private sector and emerging markets.
Spot gold peaked at $4.887,82 an ounce yesterday. The safe-haven metal has risen more than 11% since the start of 2026, extending a rally that saw it jump 64% last year. Today, it is down 0,7%. The brokerage firm also expects central bank purchases to average 60 tons in 2026, as emerging market central banks are likely to continue diversifying their gold reserves.
Tech cravings return after Nvidia CEO's messages, and Seoul's Kospi soars above 5.000 points.
The greater easing of tensions is leading investors to focus once again on the artificial intelligence sector, even after the reassuring messages from Nvidia's CEO yesterday in Davos.
Il Kospi of South KoreaThe tech-heavy index is in strong form this morning, rising more than 2% to a new all-time high above 5.000 points. The index was supported by gains in semiconductor and automotive stocks, as investors bet on their growing potential in artificial intelligence and robotics.
Samsung Electronics e SK Hynix jumped between 3% and 4% following reports that they plan to reduce some memory chip production to support prices and margins, both benefiting from exceptionally strong AI-driven demand.
Broader sentiment towards technology and AI-related stocks was boosted by positive comments from Nvidia CEO Jensen Huang Speaking at the World Economic Forum on Wednesday, Huang praised AI as driving the "greatest infrastructure expansion in human history." According to Bloomberg News, citing a source familiar with the matter, Huang plans to go to China in late January to try to reopen a key market for the company's artificial intelligence chips. According to the report, Huang is expected to attend company events ahead of the Lunar New Year holidays in February and may even visit Beijing.
In Japan solid rise for the Nikkei index, which recovers part of the losses suffered at the beginning of the week, with the main indices gaining bank stocks who have signaled a easing of concerns about the country's excessive fiscal spending. Even the technology stocks Japanese have advanced thanks to Huang's comments: Softbank Group rises more than 13%, while Nvidia supplier Advanced Corp. jumps nearly 5%. Japanese government bond yields are falling, after a prolonged sell-off in the debt market that pushed yields to multi-decade highs. Attention now turns to the two-day meeting of the Bank of Japan, with the central bank widely expected to leave interest rates unchanged tomorrow.
- Chinese indices Instead, they underperformed, with the Shanghai and Shenzhen CSI 300 indices and the Shanghai Composite moving in a narrow range, while Hong Kong's Hang Seng remained essentially flat.
Wall Street rose more than 1% yesterday, its biggest gain in two months.
The news of the framework agreement on Greenland pushed the indices of Wall Street The Dow closed up 1,21%, the S&P 500 up 1,16%, and the Nasdaq up 1,18%, posting their biggest daily percentage gain in two months. VIX, which measures volatility on Wall Street, fell more than 15%.
All major industrial sectors grew, with the indicator returning to positive territory for 2026. The stocks energetic led the gains, reaching the historical highs. The small cap have outperformed the U.S. stock benchmark for the thirteenth consecutive session. Even large companies technological From U.S. stocks to Treasuries, corporate bonds to emerging markets, exchange-traded funds tracking these key assets recorded their strongest pan-market rally since August.
Sam altman, CEO OpenAI, according to Reuters, met with major Middle Eastern investors to arrange financing for a new round of investments that could amount to at least $50 billion. Apple Inc. plans to renew Siri by the end of the year, transforming the digital assistant into the company's first AI-powered chatbot, thrusting the iPhone maker into a generative AI race dominated by OpenAI and Google.
Meanwhile, the judges of the United States Supreme Court They said they were wary of Trump's attempt to fire Federal Reserve Governor Lisa Cook over unproven mortgage fraud allegations, saying the move could jeopardize the Fed's independence and rattle markets.
European stock markets opened with a strong rebound. At the Milan Stock Exchange, Eni, Tim, and Webuild were all eyes on the stock market.
European markets are expected to open higher. Euro Stoxx 50 futures are expected to rise 1%.
Bpm bank – Credit Agricole has reached 20,104% of the voting rights, according to a Consob document updated on January 16.
Bper – UBS raised its target price to 13,10 euros, from 11,80 euros, with a Buy rating confirmed.
BRUNELLO CUCINELLI – It presented the new e-commerce site, developed from a project that offers visitors an AI-based digital experience.
Eni – It has signed an agreement with SOCAR, the state-owned oil company of the Republic of Azerbaijan, for the sale of a 10% stake in the Baleine project in Côte d'Ivoire.
Hera – It presented its new industrial plan through 2029, which calls for total investments of 5,5 billion euros and growth in profits and dividends.
nexi – He will present the new strategic plan on March 5th.
Pirelli Continental and Michelin's tire divisions have reported preliminary results for the fourth quarter of 2025. EBIT is in line with expectations, and FCF is better than expected. Michelin's data on the global tire market for December shows a decline of 2% for replacement tires and 1% for OEM tires. This trend is consistent with forecasts.
TelecommunicationsAccording to the European Commission's draft law (Digital Network Act), European telecom operators can use the spectrum indefinitely. Copper is scheduled to be phased out by 2035.
Stellantis – BNP Paribas raised its target to 9,10 euros, from 7,80 euros previously, confirming its Underperform rating.
Telecom Italy – TIM Brasil announces an agreement with American Tower aimed at the sustainability and evolution of its mobile network (approximately 9 towers, 30% of TIM Brasil's infrastructure).
Danieli Berenberg raised its target price to 51 euros from 40 euros.
Webuild - The Courier The article reports that FS (Ferrovie dello Stato)'s offer for Pizzarotti's assets (under administration) has been accepted and should now be subject to approval. FS offered €180 million to secure €3,5 billion in rail contracts. The article highlights the doubts and opposition of ANCE (National Association of Building Contractors).
