CNBC Daily Open: Greenland could be next on Trump’s list

It’s not even been a week since the U.S. attack on Venezuela, and murmurs of another potential military operation are already coming out of the White House. On Tuesday stateside, Press Secretary Karoline Leavitt told CNBC that the Trump administration is not discounting “utilizing the U.S. Military” to obtain Greenland.

Even before the news broke, headlines about a potential takeover were already circulating. European politicians banded together to stand behind Greenland’s borders, while leaders of Denmark and its autonomous territory emphasized the Arctic island’s sovereignty.

But much like the U.S.’ strike on Venezuela, U.S. President Donald Trump’s aggressive posturing around Greenland didn’t seem to faze markets much. In fact, the S&P 500 and Dow Jones Industrial Average notched fresh records, along with Europe’s Stoxx 600.

“The market’s reaction to the Venezuela news underscores the gap between headline risk and actual price action. While [Venezuelan President Nicolás] Maduro’s arrest is a notable geopolitical event, it carries no immediate implications for oil supply — the factor markets truly care about,” said Angelo Kourkafas, senior global investment strategist at Edward Jones.

Meanwhile, Greenland’s economy is facing “major challenges,” according to a report by Søren Bjerregaard, head of securities and balance of payments at Danmarks Nationalbank.

That said, there is no denying the severity of the move on a geopolitical basis, and on the level of individual human lives, if Trump gives in to his desire to acquire Greenland. Markets could react badly to the symbolic — and possible concrete — fracturing of the NATO partnership.

Record closes for the S&P 500 and Dow. Major U.S. indexes rose Tuesday on the back of artificial intelligence-related stocks such as Amazon, Micron and Palantir. Asia-Pacific markets mostly fell Wednesday, snapping a two-day winning streak.

Trump weighs military action on Greenland. The White House is considering “a range of options” in order to acquire Greenland — including “utilizing the U.S. Military,” White House press secretary Karoline Leavitt told CNBC on Tuesday.

U.S. to get oil from Venezuela. The U.S. will receive between 30 billion to 50 million barrels of oil from Venezuela, which will be sold at its market price, Trump said Tuesday evening stateside.

India still buying Russian oil. State-owned refiners, such as the IOC (Indian Oil Corporation) and BPCL (Bharat Petroleum Corporation), are still purchasing Russian crude, analysts said. Trump slapped high tariffs on India over its import of Russian oil.

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