CNBC Daily Open: 'TACO' trade boosts markets amid ongoing geopolitical tensions around Greenland and Ukraine

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U.S. President Donald Trump walks aft charter announcement for his Board of Peace inaugural aimed astatine resolving planetary conflicts, alongside the 56th yearly World Economic Forum (WEF), successful Davos, Switzerland, January 22, 2026.

Denis Balibouse | Reuters

Amid the caller uproar implicit U.S. President Donald Trump's purpose of annexing Greenland, it's casual to suffer way of different geopolitical hostility that's been raging connected the European continent for astir 4 years: the Russia-Ukraine war.

On Friday, Ukrainian, Russian and U.S. ambassadors volition clasp trilateral talks successful the United Arab Emirates that volition past until Saturday.

Notably, Europe won't beryllium progressive successful the meetings. Ukraine's president, Volodymyr Zelenskyy, connected Thursday accused Europe of being "lost" and trying to transportation Trump to assistance them, alternatively than uniting for their ain defense.

On different front, Denmark connected Thursday signaled it was open to talks with the U.S. implicit its "Golden Dome" rocket defence plan, which is portion of the "deal" regarding Greenland that U.S. President Donald Trump had announced a time earlier.

But Greenland's Prime Minister Jens-Frederik Nielsen said that helium doesn't cognize what's successful the agreement — a effect shared by galore analysts and governmental watchers.

Ed Price, elder non-resident chap astatine New York University, told CNBC connected Thursday that striking a woody "requires 2 radical to tango," describing Trump's code astatine the World Economic Forum successful Davos, Switzerland, arsenic "a monologue not a dialogue."

Still, Trump walking backmost connected his tariff threats connected EU countries and toning down the rhetoric connected Greenland has lifted markets globally, reviving talks of TACO — "Trump Always Chickens Out" — trade.

The U.S. president besides signed his Gaza "Board of Peace" into being connected Thursday — and withdrew his invitation to Canada to articulation the board, conceived arsenic a means to oversee the reconstruction of Gaza aft a two-year warfare with Israel.

There's a flimsy dip successful the somesthesia astir Greenland, but geopolitical vigor persists elsewhere.

— CNBC's Kevin Breuninger, Anniek Bao, Lucy Handley and Hugh Leask contributed to this report.

What you request to cognize today

Trump withdraws 'Board of Peace' invitation to Canada. The determination comes aft Canadian Prime Minster Mark Carney gave an code successful Davos informing against economic coercion by the world's superpowers. Carney said past week helium intended to join the board.

TikTok forms U.S. associated venture. This means the video-sharing app volition beryllium allowed to continue operating successful the U.S. The caller venture, which volition tally arsenic an "independent entity," volition beryllium headed by Adam Presser, who has been serving arsenic TikTok's caput of operations and spot and safety. 

The Bank of Japan raises economical forecast. Economic enlargement successful the fiscal twelvemonth ending March 2026 is expected to deed 0.9%, up from the 0.7% estimated successful October. The BOJ besides held involvement rates steady. Meanwhile, inflation successful December cooled, and Prime Minister Sanae Takaichi dissolved parliament connected Friday.

U.S. stocks widen gains. On Thursday, starring U.S. indexes climbed for a 2nd time after Trump called disconnected Europe tariffs. Asia-Pacific markets roseate Friday, but tech stocks, specified arsenic SoftBank Group and Lasertec, fell aft Intel shares plunged successful extended trading.

[PRO] Stocks that look poised to surge. CNBC Pro screened for names that person been upgraded to bargain oregon overweight by astatine slightest 3 much analysts since the extremity of past year. A large trading level and Wall Street slope showed up connected the list.

And finally...

Nvidia’s Huang to sojourn China arsenic AI spot income stall

Nvidia CEO Jensen Huang plans to sojourn China successful the coming days up of the mid-February Lunar New Year, 2 radical acquainted with the substance told CNBC. Huang is expected to be an Nvidia institution enactment successful Beijing connected Monday, said 1 of the sources, who requested anonymity to talk astir the trip.

The travel comes arsenic questions persist implicit the U.S. spot giant's quality to merchantability successful the Chinese market, which erstwhile accounted for at slightest one-fifth of revenue from Nvidia's information halfway business.

Evelyn Cheng

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