Today’s Market Recap: Greenland Framework Sparks Global Market Recovery
On January 21, 2026, unusual trading activity in Vale (VALE), a leading global producer of iron ore and nickel, highlighted a shift in sentiment across the mining sector. Vale’s stock rose 4.29% to close at $15.57 during a volatile recovery session. This rally occurred as materials and mining stocks rebounded alongside broader markets, with investors closely monitoring how macroeconomic conditions and iron ore demand will influence future earnings.
Trading volume for the day surged to 57.9 million shares, approximately 74% higher than the three-month average of 33.3 million. Since its IPO in 2002, Vale has seen a total growth of 592%.
The broader market also posted gains, with the S&P 500 rising 1.16% to near 6,875 and the Nasdaq Composite adding 1.18% to finish around 23,225. Peer companies in the metals and mining industry followed suit: BHP Group (BHP) climbed 1.89% to $65.61, and Rio Tinto Group (RIO) gained 3.69% to close at $88.84 as cyclical stocks joined the market rebound.
Market volatility was driven by attention on the World Economic Forum in Davos, Switzerland, specifically President Trump’s address. Mining stocks like Vale surged as geopolitical tensions eased regarding a potential U.S. acquisition of Greenland. Following his speech, President Trump stated on Truth Social that a "framework of a future deal" regarding Greenland and the Arctic Region had been established. Although there is no specific indication that mining is included in these discussions, investors were encouraged by the removal of recently threatened tariffs.
Meanwhile, tech leaders continue to emphasize the massive scale of the AI revolution. Nvidia (NVDA) ’s CEO suggested that a single technological breakthrough could create more wealth in the next five years than the internet did in twenty. Amazon’s Jeff Bezos noted the impact is "hard to overstate," while Cathie Wood projects that AI could represent an $80 trillion opportunity by 2030 — a figure dwarfing the current market caps of tech giants like Microsoft and Amazon.
While many investors focus on the major players, much of this projected growth depends on a single "choke point." A relatively small, lesser-known company currently holds a virtual monopoly on a critical technology that Nvidia, AMD, and Intel (INTC) require to function, positioning it as an indispensable part of the AI infrastructure.
President Trump announced a "framework agreement" with NATO regarding Greenland, leading to a temporary suspension of planned tariffs against Europe and sparking a rally in U.S. equities and digital assets while silver prices plunged. During a meeting with NATO Secretary General Mark Rutte, Trump described their discussions as "very productive," resulting in a permanent framework for Greenland and the broader Arctic region. As a result, the tariffs previously scheduled for February 1 will not be implemented. While Trump noted that the framework would be made public soon, he did not disclose whether the deal involves U.S. ownership of the island.
French President Emmanuel Macron has called for mutual respect over "bullying" in international relations and advocated for increased Chinese investment in key European sectors to drive growth. Emphasizing that the current era should focus on global cooperation rather than "neo-imperialism," Macron stated that Europe prefers the rule of law over force. In a subtle critique of Trump, he noted that despite claims from some that "wars are solved," the world remains troubled by dozens of conflicts in 2025. Macron welcomed Chinese foreign direct investment, particularly in critical industries, as a necessary component for European economic expansion.
The European Parliament has announced an indefinite freeze on the review of the EU-U.S. trade agreement due to perceived threats to European sovereignty. Bernd Lange, Chairman of the European Parliament's Committee on International Trade, stated on January 21 that negotiations and review processes would be suspended immediately. Lange emphasized that "business as usual" is impossible while the EU's sovereignty and territorial integrity face ongoing threats, leading to a total halt of the legislative work regarding the transatlantic trade deal.
NVIDIA CEO Jensen Huang highlighted that AI requires trillions of dollars in infrastructure investment, noting that surging demand is driving up GPU rental prices globally. Speaking at the Davos Forum, Huang identified AI as a "platform-level shift" and categorized the industry into a five-layer architecture from energy to applications. He cited three major breakthroughs over the past year: agentic AI, the release of the first open-source reasoning model by DeepSeek, and physical AI. Huang predicted that AI would create high-value employment, specifically suggesting that blue-collar trades like plumbing and electrical work could command six-figure salaries in the AI era.
Google (GOOG) ’s latest TPU has significantly narrowed the gap with NVIDIA, achieving a 70% reduction in inference costs to match the cost-efficiency of the GB200. According to Goldman Sachs, the transition from TPU v6 to TPU v7 has dramatically lowered the cost per token, bringing Google/Broadcom’s hardware to parity with NVIDIA’s NVL72. Analysts suggest this shift indicates that the core competition in AI chips is moving beyond raw speed toward "sustainability and affordability," though NVIDIA maintains a strong market position.
Apple (AAPL) is planning to overhaul Siri into its first sophisticated AI chatbot, with a scheduled debut for the second half of 2026. Internally codenamed "Campos," the new AI service is expected to be unveiled at the Worldwide Developers Conference (WWDC) in June and officially launched in September. While users will still trigger the service via traditional Siri commands, its capabilities are expected to far exceed current versions. Following the report, Apple shares rose nearly 2%, while Alphabet, whose technology reportedly supports the project, also saw a 2% gain. Additionally, Apple is reportedly developing an AI-powered wearable device known as "PIN."
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