Preview of US Stock Market | The three major stock index futures all fell together, with the market focusing on Trump's speech at Davos tonight.

1. Before the US stock market on January 21st (Wednesday), the futures of the three major US stock indexes all fell. As of the time of writing, Dow Jones futures fell by 0.27%, S&P 500 index futures fell by 0.20%, and Nasdaq futures fell by 0.39%. 2. As of the time of writing, the Germany DAX index fell by 1.09%, the UK FTSE 100 index fell by 0.18%, the France CAC40 index fell by 0.38%, and the Europe Stoxx 50 index fell by 0.95%. 3. As of the time of writing, WTI crude oil rose by 0.27% to $60.52 per barrel. Brent crude oil rose by 0.17% to $65.03 per barrel. Market News Market focuses on Trump's speech in Davos tonight. US President Trump is scheduled to speak at the Davos World Economic Forum in Switzerland at 21:30 Beijing time. The market's attention is mainly focused on whether he will ease the tensions in European trade caused by the idea of "purchasing Greenland". With the recent significant decline in the US stock market, the market generally views this speech as a watershed moment to judge whether the trade situation between Atlantic China Welding Consumables, Inc. and Europe will further deteriorate. The White House had previously stated that Trump plans to focus on promoting the resilience of the US economy and proposing a policy that allows the use of retirement savings accounts to pay for down payments on housing. However, recently, he threatened to impose high tariffs on European countries that refused to support the Greenland idea, shifting international investors' focus to tariff policies. As a result, financial markets have been volatile on the eve of the speech, with US stock futures attempting to stabilize, and safe-haven sentiment pushing gold prices to a historic high of $4800 per ounce. Trump's "GEO Group Inc bomb" blows up gold crater? Wall Street shouts out: Political turmoil is just noise, profit growth is the buying point. The United States is threatening to launch at least one economic war to gain control of Greenland; the uncertainty of the Japanese political situation has disrupted the global bond market; in addition, the independence of the Federal Reserve still faces threats from the Trump administration. On Tuesday, the stock market saw its largest single-day decline since October, but Wall Street strategists say the foundation for further stock market gains remains solid. Their logic is usually based on the fact that risk assets have always been able to see through GEO Group Inc political turmoil in the long term, unless this chaos leads to a surge in oil prices. Although oil prices rose on Tuesday, the transaction prices of Brent crude oil and West Texas Intermediate (WTI) crude oil remain far below long-term average levels. Other bullish views come from corporate earnings, with fourth-quarter profit growth expected to be around 9%. President's power vs. central bank independence! The US Supreme Court will hear the "Cook case" today, and the ruling may reshape the foundation of the Federal Reserve's hundred-year system. So far, the US Federal Supreme Court has always helped the Federal Reserve resist various attempts by President Trump to seize control. The legal debate scheduled for Wednesday will test the firmness of the Supreme Court in maintaining the independence of the Federal Reserve. The Supreme Court justices will consider whether Trump has the right to temporarily dismiss Federal Reserve Board member Lisa Cook on the grounds of mortgage fraud chargesCook herself has denied those charges. It is worth noting that the timing of this trial overlaps with the Department of Justice's criminal investigation of Federal Reserve Chairman Jerome Powell, an investigation that has sparked bipartisan opposition. Formally, the core controversy of the Cook case is whether Trump has the power to dismiss her temporarily while her related litigation is still pending. The market begins to question the "beyond expectations" logic! In the era of overvaluation of US stocks, lack of strong performance guidance = selling facts. As of the middle of January, the current round of US stock earnings disclosures have shown that the overall actual profits significantly exceed market expectations, but investors, unmoved, have given the worst stock price reactions after exceeding expectations in recorded history. In the analysts' view, the main logic behind this is that global investors are increasingly baffled by the prospects for GEO Group Inc politics in 2026, as well as macroeconomic, monetary policy, and fiat wealth storage perspectives, and some companies have not raised their 2026 performance guidance in their earnings disclosures, leading investors to sell high upon expectation, the default action after beating expectations. So far, about 81% of the companies in the S&P 500 index have actual profit data that surpassed fourth-quarter consensus profit expectations. Biden: Unconcerned about US debt sell-off issue Japanese counterparts will take action. According to reports, US Treasury Secretary Biden stated on Wednesday that he is unconcerned about the sell-off of US debt, and has linked the sell-off of US debt with fluctuations in Japanese government bonds, saying he has been in touch with Japanese counterparts to ensure they will take measures to stabilize the market. Denmark's position on US debt is inconsequential, much like the country itself. He called on European allies to understand: Greenland needs to become part of the United States, and he hopes they will sit back and wait for President Trump's speech. According to the schedule released by the World Economic Forum, Trump will speak at Davos at 21:30 Beijing time. Gold bull market faith adds more chips! Greenland crisis + Japanese bond collapse + Federal Reserve independence crisis, gold price gathers momentum towards $5000. In the midst of the Greenland sovereignty crisis and the collapse of long-term Japanese government bond prices, along with the strong support for global safe-haven demand due to the threat to the independence of the Federal Reserve's monetary policy by Trump, one of the precious metals gold continues its record-breaking price surge. After a 70% surge in gold spot/futures prices in 2025, the trajectory of the bull market continues to rise sharply in early 2026. As of the time of writing, spot gold has surpassed the important technical price level of $4880 per ounce, with the latest report at $4863.01 per ounce, up 2.09% on the day. HSBC predicts that the price of gold is expected to break through the massively significant level of $5000 per ounce in the first half of 2026. Stock news First quarter earnings guidance is conservative, and Netflix (NFLX.US) plans to fully cash acquire Warner Bros. Exploration, pre-market drop of over 7%. Netflix's fourth-quarter performance basically exceeded Wall Street's expectations, but the forecast for the coming months is cautious. Netflix expects revenue of $12.16 billion in the first quarter of 2026, slightly below the market's expected $12.17 billion, citing increased program expenses and the cost of completing the transaction with Warner Bros. Discovery Channel. To acquire Warner Bros. Discovery with all cash, Netflix will temporarily suspend its stock buyback plan. As of the time of writing, Netflix's pre-market drop was over 7%. Netflix's Q4 revenue was $12.1 billion, with earnings per share of 56 cents, both exceeding analysts' expectations. Full-year revenue in 2025 reached $45.2 billion, a 16% increase from the previous year. Q4 operating profit increased by 30% year-on-year. The operating profit margin increased from 22.2% in the previous year to 24.5%. At the same time, net profit increased by 29% year-on-year to $2.42 billion. Interactive Brokers Group, Inc. Class A (IBKR.US) Q4 earnings exceed expectations, strong performance driven by "double-engine" trading and interest income. Interactive Brokers Group, Inc. Class A's fourth-quarter performance exceeded market expectations, with customer trading volume continuing to achieve double-digit growth. In this quarter, profitability growth was driven by the two core engines of trading activity and interest income, with customer base expansion and effective cost control underscoring its operational resilience in volatile market conditions. Data shows that total net revenue reached $1.64 billion, in line with market consensus, higher than the previous quarter's $1.61 billion and $1.39 billion in the same period in 2024. Adjusted earnings per share (EPS) were $0.65, exceeding the market's general expectation of $0.59 per share, significantly higher than the $0.57 per share in the third quarter and $0.35 per share in the same period last year. Operating indicators have shown strong performance. US blue-chip stock Johnson & Johnson (JNJ.US) withstands "billion-dollar" drug price impact! Provides strong performance outlook, Q4 innovative drug sales increase by 10%. Forecasts released by Johnson & Johnson's management show that its 2026 revenue and profit expectations will exceed those of Wall Street analysts, despite the "billion-dollar" impact of drug price and pricing agreements signed with the Trump government earlier this month. In the fourth quarter of 2025, Johnson & Johnson's revenue and profits showed robust growth and exceeded Wall Street expectations. Johnson & Johnson's management expects the adjusted EPS for the full year 2026 to be in the range of $11.43 to $11.63, compared to Wall Street's previous average expectation of about $11.45 per share. Johnson & Johnson's overall revenue and profitability in Q4 exceeded Wall Street expectations, with its largest business segment, the Innovative Pharmaceuticals division, posting a sales growth of over 10% in the fourth quarter, reaching $15.76 billion. Halliburton (HAL.US) Q4 financial report exceeds expectations, performance growth driven by international market demand. Halliburton exceeded analysts' expectations in its fourth-quarter financial report published on Wednesday, benefiting from stable growth in international market demand. The company's adjusted earnings per share for the quarter reached $0.69, higher than analysts' expectations of $0.55 per share. This performance was mainly driven by strong growth in international business, with international business revenue increasing by 2.9% to $3.5 billion. Sales of completion tools in Brazil, the North Sea, and the Caribbean regions saw significant growth, and software sales in Mexico also performed well. Although revenue in the North American region remained at $2.2 billion with no noticeable growth, company CEO Jeff Miller said he expects the North American market to recover first when macroeconomic fundamentals improve. After the financial report was released, Halliburton's stock price rose by 1.81% in pre-market trading. Berkshire intends to "clear out" sell Kraft Heinz Company (KHC.US). On January 20th, the latest SEC filing shows that Berkshire Hathaway has registered to sell up to 325.4 million shares of the company. According to FactSet data, Berkshire currently holds 325.6 million shares of the company, meaning this sell-off almost covers its entire position. As of now, Berkshire's stake is 27.5%. As of the time of writing, Kraft Heinz Company fell nearly 6% in pre-market trading. Zuckerberg's "sky-high poaching" beginning to pay off, Meta (META.US) reveals new AI team has delivered core models this month. Meta's Chief Technology Officer stated on Wednesday that the company's newly established artificial intelligence lab had internally delivered the first batch of highly anticipated AI models this month. At a news briefing during the Davos World Economic Forum annual meeting, Chief Technology Officer Andrew Bosworth said that the models built by Meta's Super Intelligence Laboratory team formed last year show immense potential. Meta's efforts have been closely watched after CEO Mark Zuckerberg took major steps to reorganize the AI leadership team, establish a new lab, and poach talent with sky-high salaries. Zuckerberg hopes the company will succeed in the fiercely competitive technology frontier. Previously, Meta faced criticism for the performance of its Llama 4 model.