Dow futures climbed 0.4%, S&P500 futures were up 0.6% and tech-heavy Nasdaq futures gained 0.8%. The benchmark STOXX Europe 600 index, which tracks stocks across the region, rose 1.2%.
At the World Economic Forum in Davos, Trump said Wednesday he wouldn’t use force to take Greenland, having previously refused to rule that out. Later in the day, he announced he’d reached a “framework of a future deal” on the territory following a meeting with the NATO secretary general and also that the tariffs he’d threatened to impose next month were off.
This all came as a relief to officials and investors, even though Trump remained firm that he would accept nothing less than full ownership of Greenland — a semiautonomous territory of Denmark .
Denmark’s OMX Copenhagen 20, which tracks the 20 most actively traded shares on Copenhagen’s stock exchange, jumped 2.3% Thursday.
“From the market point of view, it’s the classic TACO trade,” he added, referring to the so-called “Trump Always Chickens Out” trade.
[CNN]