US open: Stocks higher as Trump rules out force in Greenland push

(Sharecast News) - Major indices were in the green early on Wednesday as market participants digested comments delivered by Donald Trump in Davos in which he said he was not considering using force to acquire Greenland.

As of 1525 GMT, the Dow Jones Industrial Average was up 0.86% at 48,903.51, while the S&P 500 advanced 0.81% to 6,851.93, and the Nasdaq Composite came out of the gate 0.79% firmer at 23,135.57.

The Dow opened 414.92 points higher on Wednesday, reclaiming some losses recorded by the blue-chip in what was its worst daily performance since October. Yesterday's sell-off also dragged both the S&P 500 and the Nasdaq into negative territory for the year.

"We never asked for anything, and we never got anything. We probably won't get anything unless I decide to use excessive strength and force, where we would be, frankly, unstoppable. But I won't do that. Okay? Now everyone's saying, 'Oh, good.' That's probably the biggest statement I made, because people thought I would use force. I don't have to use force. I don't want to use force. I won't use force," Trump said on Wednesday.

Trump ruled out any military action but said he was "seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States". Speaking in Davos, Treasury Secretary Scott Bessent also noted that the administration was "not concerned" about the previous session's sharp selloff.

Fears surrounding the prospect of further tariff escalation between the US and Europe still remained in focus. Also at the World Economic Forum, French president Emmanuel Macron said the EU could respond to any new US tariffs by deploying its AntiCoercion Instrument, a measure that would restrict American firms from accessing the single market. Triggering the ACI could bar US suppliers from EU public tenders, impose export and import restrictions and limit foreign direct investment.

In the corporate space, Johnson & Johnson issued better-than-expected FY26 guidance on Wednesday and also reported Q4 earnings that topped estimates, while oil services giant Haliburton traded higher in early action after posting Q4 revenue and earnings that came in ahead of Wall Street estimates.

Netflix was also in focus after the streaming giant posted a narrow Q4 earnings and revenue beat and revealed it had reached 325m global paid subscribers.

On the macro front, US mortgage applications rose 14.1% week-on-week in the week ended 16 January, extending the 28.5% surge in the previous period, according to the Mortgage Bankers Association. The sharp back-to-back increases came alongside a drop in the benchmark 30-year mortgage rate to a 16-month low of 6.16%. Applications to refinance a mortgage rose 20%, while applications for a mortgage to purchase a new home increased 5%.

On another note, construction spending rose 0.5% month-on-month in October, according to the Census Bureau, following a 0.6% decrease in September and above market estimates of a 0.1%. Private sector spending rose by 0.6%, with a 1.3% increase in the residential sector offsetting a 0.2% fall in the non-residential market. On annualised basis, construction spending fell 1%.

Finally, contracts to purchase previously owned US homes fell to a five-month low in December, according to the National Association of Realtors, as concerns regarding the US labour market and an ongoing shortage of entry-level houses offset a drop in mortgage rates. The NAR's pending home sales index plunged 9.3% to 71.8, the lowest level since July. Year-on-year, pending home sales dropped 3.0%.

"After several months of encouraging signs in pending contracts and closed sales, the December new contract figures have dampened the short-term outlook," said NAR chief economist Lawrence Yun.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $53.92 11.03%

Dow Chemical Co. (DOW) $27.66 4.05%

Unitedhealth Group Inc. (UNH) $347.13 2.57%

Nike Inc. (NKE) $65.19 2.46%

Amgen Inc. (AMGN) $337.95 2.10%

Goldman Sachs Group Inc. (GS) $960.25 1.79%

American Express Co. (AXP) $358.39 1.76%

Merck & Co. Inc. (MRK) $111.26 1.65%

International Business Machines Corporation (CDI) (IBM) $296.15 1.65%

Home Depot Inc. (HD) $380.05 1.32%

Dow Jones - Fallers

Johnson & Johnson (JNJ) $215.53 -1.23%

Coca-Cola Co. (KO) $71.01 -1.03%

Microsoft Corp. (MSFT) $450.52 -0.88%

Procter & Gamble Co. (PG) $145.81 -0.81%

Verizon Communications Inc. (VZ) $39.04 -0.09%

Visa Inc. (V) $326.09 0.08%

JP Morgan Chase & Co. (JPM) $303.48 0.24%

S&P 500 - Risers

Intel Corp. (INTC) $53.92 11.03%

Advanced Micro Devices Inc. (AMD) $250.77 8.13%

Advance Auto Parts (AAP) $44.60 7.96%

Western Digital Corp. (WDC) $239.50 7.41%

Celanese Corp. (CE) $47.36 7.08%

Micron Technology Inc. (MU) $389.98 6.84%

Citizens Financial Group, Inc. (CFG) $63.29 5.82%

HF Sinclair Corporation (DINO) $50.71 5.32%

Under Armour Inc. Class A (UAA) $6.04 5.23%

Tractor Supply Company (TSCO) $53.47 4.90%

S&P 500 - Fallers

Kraft Heinz Co. (KHC) $22.77 -4.15%

Netflix Inc. (NFLX) $84.64 -3.01%

Centene Corp. (CNC) $44.40 -2.97%

Dollar Tree Inc (DLTR) $130.32 -2.79%

Oracle Corp. (ORCL) $175.03 -2.72%

Nektar Therapeutics (NKTR) $35.36 -2.40%

Sempra Energy (SRE) $86.58 -2.09%

Gallagher Arthur J (AJG) $249.90 -1.95%

Philip Morris International Inc. (PM) $164.02 -1.89%

General Mills Inc. (GIS) $43.67 -1.75%

S&P 500 - Risers

Intel Corp. (INTC) $53.92 11.03%

Advanced Micro Devices Inc. (AMD) $250.77 8.13%

Advance Auto Parts (AAP) $44.60 7.96%

Western Digital Corp. (WDC) $239.50 7.41%

Celanese Corp. (CE) $47.36 7.08%

Micron Technology Inc. (MU) $389.98 6.84%

Citizens Financial Group, Inc. (CFG) $63.29 5.82%

HF Sinclair Corporation (DINO) $50.71 5.32%

Under Armour Inc. Class A (UAA) $6.04 5.23%

Tractor Supply Company (TSCO) $53.47 4.90%

S&P 500 - Fallers

Kraft Heinz Co. (KHC) $22.77 -4.15%

Netflix Inc. (NFLX) $84.64 -3.01%

Centene Corp. (CNC) $44.40 -2.97%

Dollar Tree Inc (DLTR) $130.32 -2.79%

Oracle Corp. (ORCL) $175.03 -2.72%

Nektar Therapeutics (NKTR) $35.36 -2.40%

Sempra Energy (SRE) $86.58 -2.09%

Gallagher Arthur J (AJG) $249.90 -1.95%

Philip Morris International Inc. (PM) $164.02 -1.89%

General Mills Inc. (GIS) $43.67 -1.75%

Nasdaq 100 - Risers

Intel Corp. (INTC) $53.92 11.03%

Western Digital Corp. (WDC) $239.50 7.41%

Baidu Inc. (BIDU) $160.33 6.87%

Micron Technology Inc. (MU) $389.98 6.84%

Microchip Technology Inc. (MCHP) $76.24 4.20%

Seagate Technology Plc (STX) $338.46 3.83%

DENTSPLY Sirona Inc. (XRAY) $12.49 3.69%

Trip.com Group Limited (TCOM) $62.43 3.24%

Analog Devices Inc. (ADI) $305.22 3.23%

Biogen Inc (BIIB) $170.61 3.16%

Nasdaq 100 - Fallers

Kraft Heinz Co. (KHC) $22.77 -4.15%

NetEase Inc. Ads (NTES) $132.16 -3.64%

Netflix Inc. (NFLX) $84.64 -3.01%

Dollar Tree Inc (DLTR) $130.32 -2.79%

Monster Beverage Corp (MNST) $80.06 -1.73%

Mondelez International Inc. (MDLZ) $57.38 -1.06%

Microsoft Corp. (MSFT) $450.52 -0.88%

Check Point Software Technologies Ltd. (CHKP) $177.25 -0.82%

Qvc Group Inc Series A (QVCGA) $10.26 -0.58%

Broadcom Inc. (AVGO) $331.27 -0.40%