Trump Eases Tariff Threat, Nvidia CEO’s Davos Speech Boosts Markets - AMD Rises 7.7%

U.S. markets stabilized Wednesday (January 21, 2026) after President Trump announced a framework agreement on Greenland with NATO, retracting planned tariffs on eight European countries effective February 1. The shift in tone, coupled with Nvidia (NVDA-US) CEO Jensen Huang's bullish AI remarks at the World Economic Forum in Davos, spurred relief buying. AMD (AMD-US) surged 7.7%, marking its seventh consecutive gain—the longest streak since February 19, 2025—on optimism over its AI server CPU business. Analysts expect strong Q4 results and raised guidance when reported next month. Apple shares also rose on reports that Siri may be upgraded to an AI-powered chatbot, potentially unveiled at WWDC 2026. Trump, in a CNBC interview, said his search for a Fed chair to succeed Jerome Powell has narrowed to one final candidate. Meanwhile, the House Foreign Affairs Committee is set to vote on legislation granting Congress authority to block advanced AI chip exports, including potential sales of Nvidia’s H200 to China.