US stocks rose on Thursday as investors breathed a continued sigh of relief that President Trump called off his threatened tariffs on European allies over his pursuit of Greenland.

The tech-heavy Nasdaq Composite (^IXIC) led the advance, rising nearly 0.9% as Tesla (TSLA) shares surged over robotaxi optimism. The blue-chip Dow Jones Industrial Average (^DJI) gained roughly 0.6%. Meanwhile, the benchmark S&P 500 (^GSPC) added 0.5% on the heels of Wall Street's sharp rally on Wednesday.

Gold (GC=F) also crossed $4,900 per ounce for the first time on Thursday, extending a string of record highs since the start of the year.

Stocks continued climbing after Trump hit pause on the 10% tariffs planned for eight NATO members in February, soothing the concerns that weighed on Wall Street earlier in the week. But investors remain on alert, as the EU and the US are still at odds over who will control Greenland.

Trump said he had drawn up a "framework of a future deal" with NATO's leader for the Arctic island, which the US wants to purchase. But Denmark's prime minister stressed Thursday that the sovereignty of its territory is not up for discussion.

Beyond trade and geopolitics, investors are bracing for Intel (INTC) to lead out Big Tech earnings when it reports quarterly results after the bell on Thursday. AI spending by the likes of Meta (META) and a global memory shortage will be in focus as the chipmaker attempts a turnaround. Procter & Gamble (PG) and GE Aerospace (GE) are among the crowd of companies also on the earnings docket.

Read more: Live coverage of corporate earnings

Meanwhile, a shutdown-delayed report on the Federal Reserve's preferred inflation gauge, the PCE price index, showed that consumer prices rose at a 2.8% annual pace in November. That inflation data, coupled with initial jobless claims, which increased only marginally, kept the Fed on course to hold rates steady at its next policy meeting.

In another economic reading, the US economy grew at the fastest pace in two years through the third quarter of 2025. GDP grew at an annual pace of 4.4% for the quarter in an upgrade from the government's first estimate.

Even so, unemployment benefits claims ticked up to 200,000 for the week ended Jan. 17, up just slightly from the previous week's 199,000 filings, according to Labor Department data.

Stocks rose for a second day in a row as the threat of an escalation over President Trump's pursuit of Greenland faded.

The S&P 500 (^GSPC) gained 0.5%, while the Dow Jones Industrial Average (^DJI) increased 0.6%.

Tesla (TSLA) shares the tech-heavy Nasdaq Composite (^IXIC) higher after CEO Elon Musk said the company started robotaxi rides with no safety monitor present in the cars in Austin, a long-awaited move.

The move higher in stocks comes a day after President Trump announced a 'framework' for a future deal for Greenland, and abandoned the threat of fresh tariffs against European nations.

Gold (GC=F) touched a fresh record high, surpassing $4,900 for the first time ever as momentum in precious metals continued to build during an explosive rally.

Tesla (TSLA) CEO Elon Musk said the company started robotaxi rides with no safety monitor present in the cars in Austin, a long awaited move. This comes after Waymo announced another expansion of its robotaxi service in the US, hammering home its lead in the autonomous space - for now.

Musk also claimed on Thursday that he expects the company’s self driving service to get EU and China approval soon.

Tesla stock popped on the news in midday trade, up over 3%.

Read more here.

Yahoo Finance's Francisco Velasquez reports:

President Trump's call that the S&P 500 (^GSPC) will see another massive rally is starting to look fuzzy.

\\"If you get double the stock market, it really will reflect the economy doubling,\\" Ben Emons, founder and CIO of FedWatch Advisors, told Yahoo Finance's Opening Bid.

Emons warned that for the market to deliver another year of outsized, double-digit gains, the US economy would effectively need to catch fire.

Trump sees the market's future differently. At the Davos World Economic Forum this week, he described the market's recent dip as \\"peanuts,\\" blaming the blimp on \\"Iceland,\\" though it is likely he meant Greenland.

“We have an unbelievable future in that stock [market]. That stock market is going to be doubled,” he said, referring to the Dow Jones Industrial Average (^DJI). “We’re going to hit 50,000, and that stock market is going to double in a relatively short period of time because of everything that's happening.”

Read more here.

GE Aerospace (GE) stock fell 5% as of midday trading on Thursday. The jet engine maker reported better-than-expected fourth quarter earnings, but investors were hoping for a stronger full-year sales forecast.

Fourth quarter revenue of $12.7 billion rose 18% year over year and beat Wall Street estimates of $11.1 billion, according to S&P Global Market Intelligence. Adjusted earnings per share of $1.57 also topped estimates of $1.43.

For the full year, GE expects profits in the range of $7.10-$7.40 per share, in line with estimates. The company guided for adjusted revenue growth in the low double digits, which investors were less enthusiastic about.

Over the past year, GE Aerospace shares are up about 60%, indicating the stock was priced for solid results.

Yahoo Finance's Claire Boston reports:

Mortgage rates moved up slightly this week as geopolitical tensions between the US and Europe flared.

The average 30-year mortgage rate was 6.09% through Wednesday, according to Freddie Mac data, up from 6.06% a week earlier. The average 15-year mortgage rate increased to 5.44%, up from 5.38%.

President Trump’s fresh tariff threats over Greenland temporarily jolted markets earlier this week and sent mortgage rates from near 6% — their lowest level since 2022 — to around 6.2%.

“Selling pressure in Treasuries, driven by renewed trade policy uncertainty, pushed long-term yields higher and helped nudge mortgage rates back up,” Realtor.com senior economist Anthony Smith said in a statement.

Read more here.

Moderna (MRNA) stock just keeps powering higher.

Shares of the biotech firm rose another 8% on Thursday afternoon, adding to a 15% daily gain on Wednesday and nearly 3% increase on Tuesday, following positive results for its personalized cancer vaccine and treatment.

The results, which showed that Moderna's treatment improved outcomes for melanoma patients over a five-year period, sent a constructive signal to investors waiting for the company's next breakthrough product that could put it on the path to profitability — especially as vaccine sales decline.

\\"With the company’s top-line revenue growth from its vaccine franchise continuing to wane, we view Moderna’s oncology program as a key catalyst for future company growth and a contributor to achieving its guidance of breaking even in 2028,\\" William Blair analyst Myles Minter wrote in a note on Tuesday.

Year to date, Moderna stock has surged more than 82% to $53 per share, though it's still well off its pandemic high of around $450, reached in September 2021.

Intel (INTC) is set to report earnings after the bell Thursday, and its financial results could either solidify or rattle the chip stock’s 47% gain over the past month amid growing Wall Street optimism over the company’s long-awaited turnaround.

Despite more positive sentiment from Wall Street analysts on the chipmaker’s turnaround recently, Intel is projected to report earnings per share declining 33% from the previous year to $0.09 and revenue falling 6% to $13.4 billion, according to Bloomberg consensus estimates. Intel stock’s upswing despite the weak outlook shows investors hoping the results will be “ less bad than feared,” Morningstar analyst Brian Colello told me Wednesday.

Read more about what Wall Street expects from the chipmaker's upcoming report here.

Nestlé SA (NESN.SW, NSRGY) has called for initial bids for a stake in the company's water business, which includes brands like Perrier and Acqua Panna, according to a Bloomberg report.

Shares in Nestlé on the Swiss market traded higher by roughly 0.7% in the minutes after the news broke, while American depository receipts for the company's stock gained 0.3%.

The company is pushing ahead with plans initially disclosed in 2024 to eventually sell or spin off its water business, worth roughly 5 billion euros, or $5.8 billion.

Nestlé — which holds one of the largest consumer food portfolios in the world, including Nespresso, Stouffer's, DiGiorno, and KitKat — has asked potential buyers to send first-round bids by the end of this month, Bloomberg reported.

Private equity giants Bain Capital, Blackstone (BX), and KKR (KKR) have all reportedly expressed interest.

Bankers are preparing between 2 billion euros to 3 billion euros, or roughly $2.3 billion to $3.5 billion, in debt financing to support potential deals, equal to four-to-six times the water unit's 500 million euros, or $585 million, in EBITDA.

No final decisions on the timing of a sale or the size of a potential stake have been made, according to Bloomberg.

Stocks bounced higher after the Federal Reserve's preferred inflation gauge held steady in November, largely keeping the Fed on course to leave rates unchanged.

Consumer prices rose 2.8% year over year for November and October, according to data from the Commerce Department's Bureau of Economic Analysis released Thursday morning. \\"Core\\" PCE — which strips out the volatile food and energy categories — also rose 2.8%. Both measures were in line with economists' estimates.

The report, which was delayed by the government shutdown, showed that while inflation has stabilized, it remains stubbornly above the Fed's 2% target.

Markets have largely formed a consensus that the Fed will hold interest rates steady at its next policy meeting next week, and today's PCE reading did little to shake that faith.

Ahead of the PCE report on Thursday, traders were betting on a 95% chance the Fed holds rates at the same level, according to CME Group's FedWatch tool, while 5% priced in a 25 basis point cut. That was little changed from 95.6% certainty the Fed would hold rates steady one day ago.

Read more here.

The US and Chinese governments have reportedly approved a deal to sell TikTok's US business to a group of American investors led by Larry Ellison's Oracle (ORCL) and the private equity firm Silver Lake Technology Management, Semafor reported on Thursday.

Shares in Oracle traded roughly 2.3% higher in the minutes after the news broke.

The deal — which was laid out in an internal memo from ByteDance CEO Liang Rubo — would see ByteDance retain a stake equal to less than 20% of TikTok's US business, while Oracle, Silver Lake, and state-owned Emirati investment firm MGX would all take 15% stakes, according to Semafor.

Quantitative trading firm Susquehanna and Michael Dell's family office will also reportedly invest in the deal, Semafor reported.

TikTok CEO Shou Chew said in December that the company had signed binding agreements with the consortium of non-Chinese investors who would take control of the social media platform's US business.

At the time, Chew said the deal was set to close on Jan. 22, 2026, a deadline put in place by the Trump administration in an executive order that granted a 120-day-long halt on the US enforcing a federal ban on TikTok use inside the US.

The deal that has been approved by US and Chinese regulators is now set to close this week, Semafor reported. Though figures have not been publicly shared, Vice President JD Vance said in September that a deal would likely value TikTok's US business at around $14 billion.

Meta (META) and Alphabet (GOOG, GOOGL) led the \\"Magnificent Seven\\" large-cap technology stocks higher Thursday morning amid fresh bullish takes from Wall Street.

Jefferies (JEF) analyst Brent Thill reiterated Meta as one of the investing firm's top picks and told clients to buy the dip — shares are down 4% in 2026 — as he believes the company will solidify an AI strategy to boost its core ad business given recent hires and the potential release of a new model in the first half of the year.

\\"Despite reports casting doubt on these hires and META's AI culture, with META having all the key ingredients for AI (users/data, compute, talent), we remain very positive,\\" he said in a note to investors Wednesday evening.

Meanwhile, Raymond James (RJF) analyst Josh Beck upgraded GOOGL shares to a Strong Buy rating from Outperform, saying its integrated AI stack (chips, models, and applications) \\"could create one of the highest quality top-line AI acceleration stories in the public universe.\\"

Meta stock jumped nearly 4% Thursday morning, while Google climbed almost 2%. Other Big Tech stocks rose around 1%.

US stocks picked up steam on Thursday as investors rallied following President Trump's decision to call off his tariff threats against European countries over his pursuit of Greenland.

The market's biggest players led the advance, as the tech-heavy Nasdaq Composite (^IXIC) and blue chip-heavy Dow Jones Industrial Average (^DJI) both picked up roughly 1%. The S&P 500 (^GSPC) added roughly 0.7% on top of a sharp rally Wednesday.

The stock market reacted positively after Trump announced he was pulling back from his 10% tariff plan for eight NATO members in February, easing worries that had rekindled the \\"Sell America\\" trade.

Beyond trade and geopolitics, investors will be watching for Intel (INTC) to lead out Big Tech earnings after the bell on Thursday and a shutdown-delayed report on the Federal Reserve's preferred inflation gauge, the PCE price index.

Paramount Skydance (PSKY) has extended the deadline on its tender offer for Warner Bros. Discovery (WBD) shares in its bid to acquire the company, according to a proxy document filed on Thursday.

Shares in Paramount jumped by 0.4% in premarket trading on Thursday, while shares in WBD fell by roughly 0.4%.

Paramount's tender offer, originally filed on Dec. 8 to acquire all of WBD's common stock at $30 per share as part of CEO David Ellison's bid to acquire the rival company, was set to expire on Jan. 21. The new deadline for the offer is Feb. 20.

The move marks the latest step in Paramount's months-long bid to acquire WBD, helmed by media titan David Zaslav, and beat out Netflix (NFLX), a saga that has been running since September.

Netflix shares gained roughly 0.5% in premarket trading on Thursday.

While Ted Sarandos's Netflix is seeking to acquire WBD's studios & streaming assets, Paramount is seeking a full buy-out of Zaslav's media company.

Paramount's $30 per share all-cash offer, valued at $108.4 billion, was initially rejected by WBD's board on worries that Paramount did not have the liquidity to fund such a deal. To ease those concerns, Oracle founder and David Ellison's father, Larry Ellison, agreed to personally backstop more than $40 billion in financing for the deal.

Paramount has also sued WBD in an attempt to force Zaslav's company back to the negotiating table.

In the latest twist in the M&A battle that has captivated Wall Street, Netflix revised its offer to an all-cash bid at $27.75 per share — valuing WBD at $82.7 billion — where previously the streaming giant had been offering a cash-and-stock bid.

Abbott (ABT) stock fell 5% before the bell on Thursday after missing Wall Street estimates for quarterly ​revenue, hit by ‌weakness in its diagnostic and nutrition business.

Reuters reports:

Shares ‌of the Illinois-headquartered company fell nearly 4% in premarket trading after it also forecast current-quarter profit below ⁠market expectations.

Shares ‌of the Illinois-headquartered company fell nearly 4% in premarket trading after it also forecast current-quarter profit below ⁠market expectations.

Abbott ‌has already warned its diagnostics division faces a projected $700 ‍million revenue hit in 2025, driven primarily by the steep drop‑off in ​COVID‑19 testing demand and pricing ‌pressure from China's volume‑based procurement program, which buys laboratory equipment and consumables in bulk at substantial discounts.

Read more here.

Natural gas (NG=F) futures have soared, picking up more than 75% over the past five trading sessions to mark the largest five-day gain since at least 1990.

The energy product, trading around $3 per million British thermal unit (MMBtu) at the start of the week, is now changing hands at over $5 per MMBtu.

Weather forecasts are showing a major cold snap set to hit a wide swath of the eastern seaboard this coming weekend, with low temperatures and heavy snow expected across an area stretching from New York City to Dallas.

Overall, the storm is expected to impact more than 150 million people, according to AccuWeather.

\\"We are anticipating a major winter weather event expected to impact much of the US population this weekend, especially the Midwest and East Coast,\\" Kristi Noem, secretary of the Department of Homeland Security, said in an X post. \\"Please prepare and take precautions in the event of power outages, pipe-bursts, road closures, airport delays, flight cancellations, and freezing temperatures.\\"

Natural gas is the most common source for heating through the US, responsible for fueling 47% of heating demand, according to the Energy Information Administration. Gas also makes up a significant chunk of electrical generation power. Cold weather, like that predicted to hit New York City and the surrounding area, triggers natural gas demand as people turn on their heaters and backup generators in power outages.

Gas is also susceptible to quick pricing pressure because it can only reliably be moved around the country by pipeline, meaning extra supply cannot be quickly trucked in like oil. The data center boom is also putting increasing pressure on the market as Big Tech developers turn to gas for quick, cheap power, booking pipelines and further tightening supply.

Major US natural gas producers EQT Corporation (EQT) and Antero Resources Corporation (AR) both picked up steam in premarket trading on Thursday after rallies on Wednesday of 6% and 4%, respectively. Major pipeline operator The Williams Companies (WMB) traded down before the market open on Thursday after picking up 2.5% on Wednesday.

Self-driving tech company Mobileye (MBLY) stock fell 6% during premarket trading on Thursday after forecasting annual revenue ​below Wall Street expectations, a sign that slower electric-vehicle production ‌is weighing on demand for its driver assistance technology.

Reuters reports:

U.S. ⁠President Donald ‌Trump's tariffs on the import of vehicles and auto ‍parts have jolted the global automotive industry, forcing several carmakers to abandon forecasts and ​scramble to adjust supply chains ‌to mitigate the impact.

This risk comes as North American carmakers rein in their once‑aggressive electric vehicle push, struggling to keep pace with Chinese ⁠rivals, losing access to ​some tax credits ​and shifting toward more affordable models and hybrids.

Read more here.

Yahoo Finance's Jake Conley reports:

The AI boom triggered a surge in energy demand and infrastructure development throughout 2025. Global leaders gathered at this week's World Economic Forum in Davos expect these same themes to be a major part of the AI story in 2026.

\\"I said, you can't create this much energy. We needed more than double the energy currently in the country just to take care of the AI plants, and I said we can't do that,\\" President Trump said in comments during his speech in Davos Wednesday, during which he repeatedly emphasized the US's commitment to powerful domestic electricity infrastructure.

The administration, Trump said, is intent on making infrastructure development in the US a booming industry to power the country's AI ambitions.

\\"Instead of closing down energy plants, Trump said, \\"we're opening them up.\\"

Read more here.

Shares of Alibaba (BABA, 9988.HK) are popping in premarket after a report that the Chinese tech giant plans an IPO for its chipmaking arm T-Head.

Bloomberg reports:

Alibaba Group Holding is preparing to list its chipmaking arm, tapping strong investor interest in the small circle of companies aspiring to compete with Nvidia (NVDA) in the hot AI accelerator business.

As a first step, Alibaba plans to restructure the unit as a business partly owned by employees, people familiar with the matter said. The company will then explore an initial public offering, though the timing for that remains unclear, the people said, asking to remain anonymous discussing private plans. Alibaba representatives didn’t respond to an email seeking comment.

The company is still at the early stages of the process and it’s unclear how much of a valuation T-Head could command. Debuts by rival chipmakers such as Moore Threads Technology (688795.SS) have drawn strong interest, reflecting bets that Beijing will prop up the industry as an alternative to American technology.

Alibaba has long explored chip design, seeking to secure a supply of the crucial components that underpin its data centers and AWS-like cloud services. AI chips are one facet of a broader campaign to become a leading AI company that rivals the likes of OpenAI (OPAI.PVT).

Read more here.

Moderna (MRNA) stock rose 5% before the bell on Thursday after reporting positive skin cancer vaccine trial results.

GameStop (GME) shares rose 3% before the bell after CEO Ryan Cohen increased his stake in the company and decided to close some US stores.

French video game publisher Ubisoft (UBI.PA) saw it' stock fall on Thursday by over 30% after announcing a reorganization and canceling six games. The dour news for the \\"Assassin's Creed\\" video game series could be an indicator on how the wider video game market as a whole is performing and what lies ahead for others.

From Bloomberg:

Goldman Sachs Group Inc. raised its year-end gold (GC=F) price forecast by more than 10%, reflecting growing private-sector diversification into bullion on top of already-strong demand from central banks and exchange-traded funds.

The bank raised its December 2026 price target to $5,400 an ounce, from a prior forecast of $4,900, on the assumption that private investors who have bought gold as a hedge against macro policy risks will maintain these positions through the end of the year, analysts including Daan Struyven and Lina Thomas wrote in a note dated Jan. 21.

Unlike previous hedges tied to specific events, such as the November 2024 US election, positions taken against perceived risks, such as fiscal sustainability, may not fully resolve this year and are therefore “stickier,” the analysts said.

Read more here.