Market Recap: US Stocks Rally 1.2% as Trump Backs Off Greenland Tariffs; Moderna Surges 15.8% on Cancer Vaccine News

The US market staged a strong rebound on January 21, 2026, as President Trump announced a framework deal with NATO on Greenland, halting planned tariffs on European allies. The Dow Jones Industrial Average surged 1.214% to $49,077.23, the S&P 500 climbed 1.159% to $6,875.62, and the Nasdaq Composite rose 1.178% to $23,224.82. Commodities saw mixed results: gold hit a record $4,834.4 (+1.439%), WTI crude oil rose 0.547% to $60.69, while silver and copper declined. Energy (+2.27%) and industrials (+1.89%) led sector gains, while the energy sector’s rally was fueled by Trump’s emphasis on securing rare earth minerals in Greenland. The market sentiment turned decisively bullish following the de-escalation of trade tensions and a 1.5% rebound in the S&P 500 after a prior 2.1% drop.

Hot Stocks

Tech Giants:

• Intel (INTC): +11.72%
• AMD (AMD): +7.71%

• Micron (MU): +6.61% Biotech Breakouts:

• Moderna (MRNA): +15.84%

• BioNTech (BNTX): +11.78% Energy & Materials:

• Dow (DOW): +6.88%

• Venture Global (VG): +6.72% Chinese ADRs:

• Baidu (BIDU): +8.17% Market Movers:

• Namib (NAMM): +130.61%

• Universal Safety (UUU): +19.95% Decliners:

• AlphaTON (ATON): -15.45%

Analysts Opinions

Analysts highlighted Trump’s reversal of Greenland-related tariffs as a key driver of the market rebound. Capital Economics’ John Higgins noted that while the bond market remains a critical gauge for policy shifts, the current sell-off lacks the intensity to force Trump to back down. The energy sector’s outperformance was attributed to Trump’s focus on securing rare earth resources, with JPMorgan analysts calling it a "strategic imperative" for US manufacturing. Meanwhile, the AI sector saw optimism as Intel and AMD’s server chip demand surged, with KeyBanc upgrading Intel to "Overweight."

However, concerns lingered over the housing market, with Redfin reporting a 47% gap between sellers and buyers, signaling prolonged price pressures.

Macro & Corporate & Global Narrative

Trump’s Greenland Framework Averts Trade War

President Trump’s announcement of a "framework" deal with NATO on Greenland, coupled with the cancellation of $1.5 billion in February tariffs, triggered a 1.4% surge in the S&P 500. The move eased fears of a transatlantic trade war and stabilized bond markets, with 10-year yields dropping 4.255 basis points. The EU suspended its trade deal with the US pending clarity on Greenland-related demands.

Gold Hits Record High as Geopolitical Uncertainty Lingers

Gold prices surged to $4,834.4, nearing $5,000, as central banks increased purchases and investors sought safe-haven assets. JPMorgan noted gold’s share of central bank reserves hit a record high, reflecting its role as a hedge against inflation and geopolitical risks.

Bitcoin Surges 10% on Trump’s Policy Shift

Bitcoin rallied above $90,000 after Trump’s tariff rollback eased market volatility, triggering over $1 billion in crypto liquidations. The move also boosted Ethereum and XRP, with prediction markets assigning a 56% probability to a Trump-led Greenland acquisition.

Housing Market Slump Deepens

Pending home sales dropped 9.3% in December, with stagnant mortgage rates (6.25%) and low inventory (1.18 million homes) deterring buyers. Redfin reported a 47% gap between sellers and buyers, the widest since 2013, signaling prolonged price pressures despite a 5.1% rise in existing-home sales.

Energy Sector Rallies on Rare Earth Focus

Energy stocks surged as Trump emphasized securing Greenland’s rare earth minerals for weapons and EVs. Dow (DOW: +6.88%) and Venture Global (VG: +6.72%) led the charge, while the energy sector gained 2.27% on optimism about supply chain security.