Traders work during the BitGo initial public offering (IPO) on the floor at the New York Stock Exchange (NYSE) in New York, US, on Thursday, Jan. 22, 2026.
Michael Nagle | Bloomberg | Getty Images
When something is phrased as a “framework” or “concept” of a deal, and described as “a little bit complex” without additional details, it’s not surprising that things can get lost in translation.
While Denmark on Thursday signaled it was open to talks with the U.S. over its “Golden Dome” missile defense plan, which is part of the “deal” regarding Greenland that U.S. President Donald Trump announced a day earlier, Greenland’s Prime Minister Jens-Frederik Nielsen said that he doesn’t know what’s in the agreement.
Broader rection by analysts and political watchers reflected a mix of relief and confusion.
Ed Price, senior non-resident fellow at New York University, told CNBC on Thursday that striking a deal “requires two people to tango,” describing Trump’s speech at the World Economic Forum in Davos, Switzerland, as “a monologue not a dialogue.”
But Trump walking back on his tariff threats on EU countries and toning down the rhetoric on Greenland has lifted markets globally, reviving talks of TACO — “Trump Always Chickens Out” — trade.
The U.S. president also signed his Gaza “Board of Peace” into being, while Ukraine’s president, Volodymyr Zelenskyy, accused Europe of being “lost” and trying to persuade Trump rather than uniting for its own defense.
In Asia, all eyes are on Japan. Prime Minister Sanae Takaichi is set to dissolve the Lower House, having announced a snap election for Feb. 8. The country released its inflation data for December, while the Bank of Japan will announce its interest rate decision as well as unveil its 2026 forecasts for inflation and economic growth.
— CNBC’s Kevin Breuninger, Anniek Bao, Lucy Hnadley and Hugh Leask contributed to this report.
What you need to know today
Japan’s inflation cools drastically. The headline inflation rate in December was 2.1%, its lowest level since March 2022, down from 2.9% in November. But rice inflation came in at 34.4% — which could be a pressing issue for upcoming elections on Feb. 8
U.S. inflation remains above 2%. The personal consumption expenditures price index showed inflation in November stood at 2.8% for both for headline and core readings, in line with the Dow Jones consensus.
Intel offers soft first-quarter guidance. Finance chief David Zinsner said that it was partly because the company lacks supply for seasonal demand. However, Intel beat expectations for its fourth-quarter earnings. Shares were down more than 11% in extended trading.
U.S. stocks extend gains. Leading U.S. indexes climbed for a second day after Trump called off Europe tariffs. The pan-European Stoxx 600 added 1.03%, while shares of Ubisoft plunged as much as 35% after announcing a reorganization.
[PRO] Stocks that look poised to surge. CNBC Pro screened for names that have been upgraded to buy or overweight by at least three more analysts since the end of last year. A major trading platform and Wall Street bank showed up on the list.
And finally…
India, EU eye ‘mother of all deals’ amid U.S. tensions. But New Delhi needs a pact with Washington
As Europe appears to stand up to Trump, it is seeking newer trade alliances. European Commission President Ursula von der Leyen said at the World Economic Forum in Davos on Tuesday that the European Union was on the “cusp of a historic trade agreement” with India.
For New Delhi, which has been facing the brunt of punitive U.S. tariffs, this could be a much-needed shot in the arm. Since Trump imposed 50% tariffs on the Asian economy in August last year, it has been looking at alternate markets for its exports and has entered into trade deals with several countries.
— Priyanka Salve
