Markets Wrap Up a Volatile Week 23/01/2026

HOT stories for today

Market wrap:

• U.S. equities advanced for a second straight session as investors took comfort from signs of easing trade frictions and a cooling in geopolitical risk. The Dow Jones Industrial Average rose more than 300 points, about 0.6%, while the S&P 500 gained a similar amount. The Nasdaq Composite outperformed, rising 0.9%, and the small-cap Russell 2000 notched a record close. The rebound began Wednesday after President Donald Trump backed away from threatened tariffs on imports from eight European nations that were due to take effect Feb. 1. The shift followed Trump’s statement that he and NATO Secretary General Mark Rutte had reached a “framework of a future deal” regarding Greenland. 
• Gold extended its run, with futures settling at another record on Thursday. In late trading, Intel sank 12% after the chipmaker issued a weaker-than-expected first-quarter outlook. Elsewhere, Trump withdrew an invitation for Mark Carney to a “Board of Peace,” deepening tensions with Canada. The Bank of Japan raised its economic growth forecasts ahead of a snap election and kept its policy rate at 0.75%. Bitcoin continued to struggle.

Dip Buyers Step In After Trump Tariff, Greenland Shock

• U.S. stocks suffered their sharpest slide since October on Tuesday after President Donald Trump threatened to take over Greenland and unveiled tariffs targeting eight European nations. The market rebounded a day later after Trump said he had reached a “framework” agreement with NATO tied to U.S. strategic interests in the Danish territory. Institutions leaned into a “sell America” trade on Tuesday, pushing U.S. equities and the dollar lower while sending bond yields and gold higher. Retail investors, by contrast, helped underpin stocks by adding exposure to the rout, according to market data.
• “As geopolitical developments cast fresh uncertainty over market sentiment this Tuesday, retail investors responded by stepping in strongly to buy the dip,” Arun Jain, JPMorgan’s head of U.S. equity quantitative strategy, wrote Thursday. Tuesday marked the third-largest one-day burst of retail buying in the past year, JPMorgan said. Net inflows from individuals reached $12.9 billion for the week, nearly double the 12-month weekly average. Jain said precious-metals funds and international equities also drew increased interest, while VandaTrack pointed to unusually strong Main Street buying,  a sign investors remain “conditioned to buy weakness,” said Ashwin Bhakre. Some investors framed the move as another “TACO” trade,  shorthand for “Trump Always Chickens Out”,  betting the most aggressive proposals are later softened. Evercore ISI’s Krishna Guha said the Greenland bounce “vindicated” investors who didn’t press sell-America trades harder ahead of a potential Trump reversal.

Stocks on the move:

• Intel (INTC): Shares slid more than 6% in extended trading after the chipmaker issued softer-than-expected guidance. Intel sees first-quarter revenue of $11.7 billion to $12.7 billion and breakeven adjusted EPS, versus LSEG estimates for $12.51 billion in sales and $0.05 a share in earnings.
• Intuitive Surgical (ISRG): Shares gained about 3% after results beat expectations. Adjusted fourth-quarter EPS was $2.53 versus $2.26 expected, and revenue was $2.87 billion, above the $2.75 billion consensus.
• Capital One (COF): The stock fell roughly 2% after the bank said it agreed to buy startup Brex for $5.15 billion in a deal split 50% cash and 50% stock. Separately, fourth-quarter adjusted EPS missed, coming in at $3.86 versus the $4.11 LSEG consensus.
• Clorox (CLX): Shares slipped nearly 2% after the company announced a deal to acquire Gojo Industries, maker of Purell, valued at $2.25 billion. Including expected tax benefits of $330 million, Clorox put the net purchase price at $1.92 billion. Excluding the transaction’s impact, the company reaffirmed its 2026 outlook for net sales, diluted EPS and adjusted EPS.
• CSX (CSX): Shares rose about 3% after fourth-quarter intermodal revenue came in at $562 million, topping the $551.2 million StreetAccount estimate. The company also said it expects full-year 2026 revenue to increase by low single digits.

Watchlist: INTC, ISRG, CSX, ERIC, COF, CLX, META, MU

Key Economic Events Today:

EST time

09:45 am: USD Flash Manufacturing, Services PMI
10:00 am: USD Consumer Sentiment
10:00 am: USD Inflation Expectations


Earnings

BMO ( Before Market Open): SLB Limited (SLB), Ericsson (ERIC), Webster Financial (WBS)




The TEFS Analyst team wishes you a successful day!