CNBC Business News Update - Market Open: Stocks Higher, Markets Rebound As Trump Says Military Force Won't Be Used Against Greenland, Heating Oil Spikes 1/21/26

Episode Date: January 21, 2026

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I'm Jessica Eddinger, CNBC. A rebound for stocks today on Wall Street after the sell-off yesterday. After President Trump took military force off the table, while the U.S. seeks to take over Greenland, the Dow, up 454 points, just about 1%. And video shares leading it higher. They're up 3% now. The S&P 500 index up 73 points. That's 1%.

The NASDAQ up 297. That's about 1.5%. President Trump today at the World Economic Forum in Davos. It's the United States alone that can protect this giant mass of land, this giant piece of ice, develop it and improve it and make it so that it's good for Europe and safe for Europe and good for us. And that's the reason I'm seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States. Now, things aren't just uncertain for investors right now. unstable, said Charles Schwab's Lizanne Saunders on CNBC.

We are navigating sort of this constantly moving target. And I think you can apply that to geopolitics, to trade policy, to monetary policy. Instability is just a different animal. At the World Economic Forum, there's a lot of talk about a new world economic order forming, especially now that Canada's Prime Minister Mark Carney has a new trade deal with China, the CEO of Lazard, Peter Orzak, spoke in Davos with CNBC's Andrew Ross Sorkin. China, effectively partnering with our closest neighbor, Canada. That's a remarkable idea to be on your doorstep this way.

At the same time that we're trying to take Greenland, because we think that that is going to help us protect ourselves against China, for example. I think at the heart of a lot of the discussions here, this evolution in terms of the two poles of the global economy, what the United States does not want is to allow the China poll to win. Lizard's CEO Peter Orzac on how the U.S. may or may not be invited to the future world party. Mark Carney's proposal, basically, that the Trans-Pacific Partnership should join forces with the European Union, that's a huge idea. And that would transform the world trading system in a way that, you know, many other things wouldn't do.

Basically what's happening is the world is moving into two poles, the crinks, China, Russia, Iran, North Korea. and then the United States, this would effectively form a third pillar, and they would invite either the United States or China to join. It fundamentally changes the dynamics. Gold hit a new record high again today, breaking $4,800 an ounce on the Greenland tariff threats. Gold is seen as a hedge against inflation and a safe haven in times of turmoil. President Trump threatening NATO nations with tariffs if they don't go along with the U.S. takeover of Greenland. Natural gas prices. are soaring up 20% today. Heating oil prices at their highest since last Thanksgiving as an Arctic cold blast hits a large part of the U.S. Heating demand expected to spike, and it's not just in the north. A major ice storm is threatening Texas Friday night that will extend through the deep south and the Carolinas into this weekend.

Jessica Eddinger, CNBC. Become a smarter investor with CNBC Pro Plus exclusive live events. This is my first time at the Stock Exchange. and it's been awesome. To be on the floor, I just can't believe I'm here. Become a CNBC Pro. Go to CNBC.com slash get pro now.