"Stocks were headed lower at the open, but as President Trump addressed the audience at the World Economic Forum in Davos, Switzerland, the moment he mentioned that the United States had no intention of using force in the quest to acquire Greenland, stocks reversed and headed higher all the way to the close. The Dow Jones Industrials closed at 49,077, up 1.21%, and the S&P 500 ended trading at 6,875, up 1.1%."
"Prices were higher across the energy complex on Wednesday, but the big story of the day was Natural gas, which ripped higher by a staggering 24.78% to finish the session at $4.88, for a two-day move of almost 50%. The combination of short covering, a massive winter storm heading down from Canada and the Arctic, and continued rising demand driven by Data Center usage as AI and cloud computing continue to soar were all factors in the parabolic leap higher."
Futures rose after a broad rebound across major US indices following a sharp prior decline. President Trump's World Economic Forum comment about no intention to use force to acquire Greenland triggered a market reversal that lifted the Dow to 49,077 (+1.21%), the S&P 500 to 6,875 (+1.1%), the Nasdaq to 23,224 (+1.18%) and the Russell 2000 to 2,698 (+2%). Treasury yields were mixed as sellers pressured short maturities while buyers supported middle and long maturities; the 10-year was near 4.25% and the 30-year near 4.87%. Natural gas surged 24.78% to $4.88 on short covering, a major winter storm, and rising data-center demand, while Brent and WTI rose modestly and gold continued upward pressure.
Read at 24/7 Wall St.
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