Dow Adds 588 Points After Trump Abandons New Europe Tariffs

Stocks pared some of yesterday's selloff to settle higher on Wednesday, with President Trump easing geopolitical fears at the World Economic Forum in Davos after he said he will not use force to acquire Greenland. Trump also abandoned new tariffs on Europe, noting he and NATO Secretary General Mark Rutte "formed a framework of a future deal with respect to Greenland.” The Dow added 588 points, while the S&P 500 and Nasdaq settled firmly higher as well. Following the tariff announcement, the 10-year Treasury price and U.S. dollar edged higher.

Continue reading for more on today's market, including:

• How the Dow performs after nearing round numbers.
• Berkshire may sell most of its KHC shares.
• Plus, NFLX's bear notes; keep tabs on this gold ETF; and Intel gears up for earnings.

5 Things to Know Today

1. Natural gas futures soared 50% over the last two days, although critically cold temperatures could disrupt gas production. (Bloomberg)
2. The Supreme Court is weighing President Trump's attempt -- proposed last August -- to fire Federal Reserve Governor Lisa Cook. (Reuters)
3. NFLX disappoints with margin outlook.
4. Options bulls are piling on this gold ETF.
5. INTC's data center is boosting chip demand.

Gold Extends Record Rally

Oil prices edged higher on Wednesday, as investors eyed potentially higher U.S. crude inventories, rising geopolitical and trade tensions, as well as Kazakhstan's temporary field shutdowns. Front-month West Texas Intermediate (WTI) crude added 3 cents to settle at $60.39 per barrel.

Gold prices extended yesterday's rally and conquered the $4,800 level for the first time as President Trump continued to seek U.S. control of Greenland. February-dated gold futures added 1.7% to $4,844.20 per ounce.