Market Reaction - Stock futures experienced a significant decline, with Dow futures down over 600 points (1.26%), S&P 500 futures dropping nearly 100 points, and Nasdaq futures falling more than 440 points (1.72%) before the market opened [1][3][4] Tariff Threats - President Trump announced plans to impose new tariffs starting at 10% on imports from several European nations, escalating to 25% by June if they do not agree to cede Greenland to the US [3][4] - The affected countries include Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland, with tariffs set to begin on February 1 [3] Market Volatility - The CBOE Volatility Index surged above 19, indicating a shift from market complacency to heightened anxiety, marking the highest level in approximately two months [4] Safe Haven Investments - Traders are increasingly investing in safe havens such as gold and the Swiss franc due to concerns that the tariff threats could lead to a broader trade war with Europe [5] European Response - European leaders have rejected the notion of selling Greenland, emphasizing its status as an autonomous territory of Denmark, while warning of potential countermeasures against US tariffs [10] National Security Argument - Trump has framed the acquisition of Greenland as essential for US national security, citing its strategic location and resources as vital to countering Russian and Chinese influence in the Arctic [6][12] - Treasury Secretary Scott Bessent supported this view, stating that the strategy aims to prevent future conflicts by leveraging economic power instead of military force [9] Ongoing Negotiations - Trump indicated that diplomatic efforts are ongoing, mentioning a positive conversation with NATO Secretary General Mark Rutte and plans for a meeting with various parties in Switzerland [16]

Core Viewpoint - Warner Bros. Discovery has accepted a new all-cash offer from Netflix to sell its studios and streaming business for $27.75 per share, moving towards a shareholder vote amid a hostile bid from Paramount [1] Group 1: Deal Structure and Financials - The revised deal is valued at $72 billion and has prompted Warner Bros. Discovery to release new financial disclosures regarding its cable networks, providing investors with clearer insights into the business that will remain post-transaction [2] - Paramount has criticized the lack of detailed financial disclosures about the cable spinoff and the Netflix deal structure, claiming this was a key reason for escalating its hostile bid [3] - Warner Bros. Discovery has released updated projections for the cable business, which will be spun off into a separate entity named Discovery Global [5] Group 2: Market Reactions and Statements - The cable division is projected to show declining revenue and earnings over the next several years, despite generating better-than-expected cash flow [9] - Netflix co-CEO Greg Peters stated that the revised deal reflects their commitment to the transaction and accelerates the process for Warner Bros. Discovery shareholders [9]

Core Viewpoint - Gold and silver prices reached record highs due to increased demand for safe-haven assets following President Trump's tariff threats against European countries over Greenland [1][3][4]. Group 1: Gold Market - Spot gold prices surged 1.7% to $4,672.49 per ounce, reaching a peak of $4,689.39 [1][3]. - US gold futures for February delivery increased by 1.8% to $4,677.70 per ounce [1]. - Gold has historically performed well during geopolitical and economic uncertainty, gaining over 64% in 2025 and more than 8% since the beginning of the current year [5]. Group 2: Silver Market - Spot silver climbed 5% to $94.41 per ounce after hitting a record high of $94.61 [8]. - Silver has increased by over 32% since the start of the year [8]. - Analysts at Citi Research maintain a bullish outlook on precious metals, projecting gold to reach $5,000 per ounce and silver to hit $100 per ounce within the next three months due to ongoing geopolitical tensions [8]. Group 3: Market Reactions - The dollar weakened as investors sought safe-haven assets like gold, the Japanese yen, and the Swiss franc amid rising risk aversion [4]. - Federal Reserve officials indicated a readiness to cut interest rates if the job market weakens, which could further support gold prices [7].

Core Viewpoint - De Beers has cut rough diamond prices for the first time since December 2024, responding to declining demand, the rise of lab-grown diamonds, and trade disruptions affecting the global diamond market [1][4]. Group 1: Price Cuts and Sales - De Beers implemented price cuts on rough stones weighing more than three-quarters of a carat during its first regular sale of the year [2][9]. - The exact size of the price reductions remains unclear due to changes in billing and the composition of diamond boxes, complicating direct price comparisons [4]. Group 2: Market Conditions - The global diamond industry is experiencing one of its worst downturns in decades, with demand and prices for natural stones significantly declining from 2023 through 2025 [6]. - The rapid rise of lab-grown diamonds has led to a collapse in their prices, allowing them to capture market share, especially in the bridal segment, and undercut natural diamonds [8]. Group 3: Geopolitical and Economic Factors - China's weakening economy and declining marriage rates have negatively impacted demand for diamond jewelry, turning it from a growth engine to a drag on the industry [9]. - Geopolitical factors, including tighter sanctions on Russian diamonds and increased tariffs on Indian imports, have created additional challenges for the diamond supply chain [10]. - The US is the largest market for India's diamond industry, which processes approximately 90% of the world's diamonds by volume; however, higher tariffs have led to a significant drop in diamond exports from India to the US, with reports indicating a reduction of more than half [11].

Market Reaction - European stocks experienced a sharp decline, with the Stoxx Europe 600 index falling 1.2% as investors reacted to President Trump's tariff threats [1][4] - Germany's DAX dropped 1.3% to its lowest level in nearly two weeks, while France's CAC 40 fell 1.8%, heavily impacted by losses in luxury stocks [2][8] - London's FTSE 100 saw a more modest decline of 0.4%, supported by its exposure to defensive sectors [4] Sector Impact - Luxury and automotive sectors were among the hardest hit, with major companies like LVMH, BMW, and Volkswagen facing concerns over potential sales declines in the US market due to new tariffs [4][5] - Defense stocks, however, showed resilience, with shares of Saab, Rheinmetall, and Dassault Aviation rising over 2% as investors anticipated increased military spending in Europe amid rising tensions [6] Tariff Details - Trump announced a 10% tariff on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, set to increase to 25% by June if negotiations over Greenland fail [5][10] - The tariff threats have raised concerns about the impact on margins and demand for luxury and automotive products in the US, a critical market for European exporters [5] Investor Sentiment - The selloff in European markets was accompanied by a flight to safe-haven assets, with gold prices reaching a new record of $4,672.49 an ounce, reflecting investor anxiety [8] - US futures indicated a rough opening on Wall Street, with S&P 500 and Nasdaq contracts down about 1% as traders anticipated potential retaliatory measures [9] Political Response - European leaders expressed concerns that the tariff threats could escalate tensions, with French President Macron advocating for a strong EU response, potentially restricting US access to the EU market [11][12] - German Chancellor Friedrich Merz emphasized the need for a unified EU position in response to the tariffs, acknowledging differing impacts among member states [12]

Costco has discreetly increased gas rewards for holders of its branded credit card.Members with the Costco Anywhere Visa Card, issued by Citi, can now expect to earn 5% cash back at Costco gas pumps, up from the previous 4%. The higher rewards apply only to gas stations located at the warehouse giant and do not extend to any gas purchases outside the company or electric vehicle (EV) charging.  However, all other eligible gas purchased outside of Costco and EV charging will earn 4% cash back. Both the 5% and ...

Core Viewpoint - JPMorgan Chase CEO Jamie Dimon confirmed he was not offered the position of Federal Reserve chair, contradicting a report that suggested President Trump had made such an offer, which Dimon took as a joke [1][4]. Group 1: Dimon's Statement and Clarification - Dimon stated, "There was no job offer," clarifying the situation regarding the Fed chair nomination [2]. - A JPMorgan spokesperson acknowledged the need for better vigilance in correcting the Wall Street Journal's report before publication [4]. Group 2: Trump's Legal Actions and Political Context - President Trump announced plans to sue JPMorgan for allegedly "debanking" him following the January 6, 2021 attack on the US Capitol [4][7]. - JPMorgan's spokesperson emphasized that no accounts should be closed due to political or religious beliefs, supporting the administration's efforts to address political debanking [5]. Group 3: Dimon's Position on Federal Reserve Independence - Dimon expressed support for the independence of the Federal Reserve amid a criminal investigation into current Fed Chair Jerome Powell [7]. - JPMorgan executives opposed the Trump administration's proposed 10% cap on credit card interest rates, arguing it would limit credit access for millions of households [8].

Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, saying he deserves the “wrongful gains” that they received from his early support, according to a court filing on Friday.OpenAI gained between $65.5 billion and $109.4 billion from the billionaire entrepreneur’s contributions when he was co-founding what was then a startup from 2015, while Microsoft gained between $13.3 billion and $25.1 billion, Musk said in the federal court filing ahead of his trial against the two companies.“Without Elon ...

Core Viewpoint - The US Supreme Court has agreed to hear Bayer's appeal to limit lawsuits claiming that its Roundup weedkiller causes cancer, which could potentially save the company billions in damages [1][2]. Group 1: Legal Proceedings - Bayer is appealing a Missouri Court of Appeals ruling that upheld a $1.25 million verdict awarded to a plaintiff diagnosed with non-Hodgkin's lymphoma after using Roundup [2][4]. - The company argues that federal law governing pesticides should preempt state law claims, as the Environmental Protection Agency (EPA) has not found evidence that Roundup increases cancer risk [7][14]. - Bayer is currently facing approximately 65,000 similar claims in state and federal courts related to Roundup [4][8]. Group 2: Financial Implications - Bayer shares rose nearly 5% following the announcement that the Supreme Court would hear the case [2][8]. - The company has already paid around $10 billion to settle most Roundup lawsuits pending as of 2020, but has not reached a settlement for future cases [11]. - A favorable ruling from the Supreme Court could significantly reduce the number of lawsuits Bayer faces, potentially saving the company billions in damages [1][9]. Group 3: Company Strategy - Bayer's CEO, Bill Anderson, stated that the court's decision is a crucial part of the company's strategy to manage ongoing litigation [3]. - The company has indicated that it may withdraw Roundup from the US market if litigation continues to escalate [15]. - Bayer acquired Roundup as part of its $63 billion purchase of Monsanto in 2018 and maintains that decades of studies support the safety of glyphosate, the active ingredient in Roundup [12][16].

Former Federal Reserve Governor Kevin Warsh soared ahead of National Economic Council Director Kevin Hassett on prediction markets betting on the next Fed chair after President Trump on Friday hinted that Hassett might be out of the running.Trump did not reveal his final choice to replace Fed Chairman Jerome Powell, but said he would like to keep Hassett in his current role.“I see Kevin’s in the audience, and I just want to thank you. You were fantastic on television today,” the president said during remark ...