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Trump to Speak at Davos, NFLX Falls Post-Earnings
Tom White
January 21, 2026
U.S. stock futures are slightly lower and losing overnight gains in premarket trading and are attempting to bounce off of yesterday’s sell-off.
Equities posted sharp losses in Tuesday’s session as President Donald Trump escalated his Greenland tariff threats ahead of his scheduled appearance at the World Economic Forum in Davos, Switzerland this morning.
Yields rose yesterday with the 10-Year hitting 5-month highs near 4.3% and the Dollar fell sharply on the geopolitical risks.
On the corporate front, Netflix (NFLX) shares are down 7% in premarket trading despite a narrow earnings beat amid uncertainty about the Warner Bros. deal weighing on the stock.
Investor focus will be on President Trump’s comments at Davos today along with economic data and earnings.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are flat above $60 a barrel on the temporary suspension of output at Kazakhstan’s oil fields and expectations of firmer global economic growth that could drive fuel demand.
Gold (/GC) – Gold are up 2% near $4865 and hit another record overnight as escalating geopolitical tensions boosted safe-haven demand, while silver also broke above $95 for the first time.
Bitcoin (/BTC) – The Crypto Future is down over 1% near 88,500 in premarket trading.
VIX – The CBOE Volatility Index was up over 26% from Friday’s closing price of 15.86 and settled at 20.09 as stocks sold off.
U.S. Dollar (/DX) – The dollar is down around 0.2% to 98.3.
Biggest Premarket Movers (as of 7 AM ET)
Symbol | Product | Mark % Change (Winners) |
|---|---|---|
UAL | United Airlines | +3.35% |
EQT | EQT | +2.76% |
SNDK | Sandisk | +2.20% |
INTC | Intel | +2.18% |
WDC | Western Digital | +2.13% |
Symbol | Product | Mark % Change (Losers) |
|---|---|---|
NFLX | Netflix | -7.24% |
KHC | Kraft Heinz | -5.51% |
APP | Applovin | -2.40% |
JNJ | Johnson & Johnson | -2.39% |
TEL | TE Connectivity | -1.83% |
Economic Data
Time | Event |
|---|---|
All Day | Davos Economic Forum |
7:00 AM ET | MBA Mortgage Applications |
8:30 AM ET | Housing Starts/Permits (Delayed) |
10:00 AM ET | Construction Spending (Delayed) Pending Home Sales |
1:00 PM ET | 20-Year Bond Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
ALLY, SCHW, CFG, HAL, JNJ, PLD, TRV, TFC, TDY | KMI, KNX | ABT, FCX, GE, HBAN, MKC, MBLY, PG | ALK, AA, COF, CSX, INTC, ISRG, SLM |
Upgrades/Downgrades
Susquehanna upgrades Arm (ARM) to Positive from Neutral
Raymond James upgrades Ulta Beauty (ULTA) to Strong Buy from Outperform
BofA upgrades Oklo (OKLO) to Buy from Neutral
Rothschild & Co. downgrades FedEx (FDX) to Neutral from Buy
BNP Paribas downgrades Kraft Heinz (KHC) to Underperform from Neutral
Raymond James downgrades Darden Restaurants (DRI) to Market Perform from Outperform
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