He huffed. He puffed. But President Trump didn't blow down a shaky stock market a day after it plunged because of renewed tariff fears.
Trump used his bully pulpit at the World Economic Forum in Davos on Wednesday to hit all his classic notes. During an hour-plus speech, he attacked Fed Chair Jerome Powell for being "too late" to cut interest rates. He suggested for the first time that Powell's replacement will be a man.
He even set in motion plans to stop institutions from buying single-family homes, but did apologize to his billionaire friends (see Blackstone (BX) CEO Steve Schwarzman, whose firm stands to lose) in the audience about doing so.
Above all else, Trump said he would not use force to seize control of Greenland, a country that he frequently panned as a "piece of ice."
That was enough for a jittery market to scry that Trump won't go nuclear with his latest tariff threat against Europe.
As of this writing, all three major indexes were in the green. The Dow Jones Industrial Average (^DJI) was leading the way with a 0.6% gain. Investors returned to richly valued momentum stocks such as AMD (AMD) and Google (GOOG).#TrumpCancelsEUTariffThreat #TrumpTariffsOnEurope #WriteToEarnUpgrade