Tonight’s Highlights | Greenland Tensions Escalate, U.S. & European Stocks Slide; Spot Gold & Silver Hit Fresh Record Highs
U.S. stock futures plunged in pre-market Tuesday amid renewed chaos. President Trump reignited the Greenland issue just before heading to the Davos summit, deepening losses across Europe and U.S. indices.
As of press time: Nasdaq 100 futures (2603 contract) −1.72%, S&P 500 futures −1.39%, Dow futures −1.24%.
European major indices extended their decline Tuesday, with the STOXX 50 falling over 1%.
Japanese bonds also tanked sharply Tuesday as investor worries over government fiscal expansion intensified. Japan’s 30-year and 40-year yields both surged at least 28 basis points—the biggest sell-off since April’s tariff shock.
(Chart: Japan 40-year bond yield, source: TradingView)
Markets face a series of geopolitical storms in the coming days. Tuesday remains a key day for U.S. Supreme Court rulings—unclear if the court will release its decision on the legality of Trump’s tariffs right as he travels to Europe.
Per the Davos schedule, Trump is scheduled to speak around 8:30 a.m. ET Wednesday—right before U.S. markets open. Investors will watch closely for any signals on Greenland.
Safe-haven flows surged amid the rising tensions: spot gold and spot silver both hit all-time highs Tuesday, with gold at $4,700/oz and silver at $95/oz.
After-hours focus shifts briefly back to earnings
Streaming giant Netflix reports quarterly results Tuesday night. Amid concerns over slowing subscriber growth and sustainability, Netflix shares have fallen nearly 30% since its last earnings report in October.
The company also announced pre-market that its $82.7 billion deal to acquire Warner Bros. Discovery will now be all-cash.
Other Headlines
Quantum computing firm Quantinuum reportedly advancing IPO
Reports Tuesday say Honeywell-backed quantum computing company Quantinuum is working with Morgan Stanley and JPMorgan on an IPO. The company aims to go public in the first half of this year at a valuation of $15–20 billion, raising around $1.5 billion.
GSK to acquire Rapt Therapeutics for $2.2 billion
As of press time, Rapt Therapeutics shares surged 63.56% pre-market. The UK pharma company announced Tuesday it will be acquired by GSK at $58 per share—a 65% premium to Monday’s close—valuing the equity at $2.2 billion.
Post-deal, GSK gains global (ex-Greater China) rights to the food allergy drug ozureprubart and will handle milestone payments to Shanghai Jiuyu Pharma.
AI app stock AppLovin hit by short-seller attack
As of press time, AppLovin shares fell over 7% pre-market. Short-seller Capitalwatch released a report accusing the company’s core shareholder structure of systemic compliance risks and major financial crimes.
Germany restarts EV purchase subsidies
The German government announced January 19 that households buying new electric vehicles will receive subsidies of up to €6,000 to boost domestic EV adoption.
This marks a revival of similar incentives after they were terminated at the end of 2023.
Sony to spin off TV business, form JV with TCL
Sony announced Tuesday it signed an MoU with TCL to create a joint venture for its home entertainment business (TVs, home audio, etc.).
TCL will hold 51%, Sony 49%. The new entity will operate globally and continue using Sony and Bravia brands.
Moderna reports positive mRNA cancer combo therapy data
Moderna announced Tuesday that its mRNA-based cancer therapy intismeran autogene (mRNA-4157), when combined with Merck’s PD-1 therapy Keytruda, reduced the risk of recurrence or death by 49% in high-risk melanoma patients five years after resection.
Other Events/Data to Watch Tonight
January 20
11:30 p.m. ET: Canada PM Carney speaks at World Economic Forum
January 21
12:30 a.m. ET: Bundesbank President Nagel, SNB President Schlegel speak at WEF
After-hours
Netflix earnings release