Stock market today: Dow, S&P 500, Nasdaq rise after Trump backpedals on Greenland tariffs

Group 1: Market Reactions - US stocks rose as President Trump called off threatened tariffs on European allies, leading to a gain of approximately 1% in the Nasdaq Composite and Dow Jones Industrial Average, with the S&P 500 adding roughly 0.8% [1][2] - Investors remain cautious despite the pause on tariffs, as tensions between the EU and US over Greenland persist [2][3] Group 2: Earnings Reports - Intel is expected to lead Big Tech earnings with its quarterly results, focusing on AI spending and a global memory shortage [4] - Procter & Gamble and GE Aerospace are also scheduled to report earnings [4] - Alibaba shares increased following news of a planned IPO for its AI chipmaking unit, T-Head, which aims to compete with Nvidia [5] Group 3: Economic Data - The US economy grew at an annual pace of 4.4% in the third quarter, marking the fastest growth in two years, with an upgrade from the initial estimate [7] - Unemployment benefits claims slightly increased to 200,000 for the week ended January 17, up from 199,000 the previous week [7]