Wall Street rises after Trump says won’t use force to acquire Greenland, Netflix dips 2.6%, United Airlines soars 4.2%

US stock indices rose on Wednesday as investors digested President Donald Trump's speech at the World Economic Forum in Davos where he retreated his demand for Greenland acquisition.

As of 10:15 a.m. Eastern Time, the S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite climbed 0.7% each.

At the open, the S&P 500 rose 0.30%, the Nasdaq Composite index added 0.21% and the Dow Jones Industrial Average climbed 0.33%.

Trump’s comments unsettled stock markets earlier in the week.

All three major US indices tumbled nearly 2% on Tuesday, as investors flocked to safe-haven assets after Trump threatened to implement new tariffs on European nations until the US is allowed to buy Greenland, an autonomous territory of Denmark.

In the bond market, the yield on the 10-year Treasury fell to 4.28% from 4.30% late on Tuesday.

What Trump said at WEF Davos?

President Trump on Wednesday insisted that he wants to “get Greenland, including right, title and ownership,” but he said he wouldn’t use force to achieve that. He also said NATO shouldn’t stand in the way of US expansion.

“What I’m asking for is a piece of ice, cold and poorly located,” Trump said, declaring of NATO: “It’s a very small ask compared to what we have given them for many, many decades.”

He further urged NATO to allow the US to take Greenland from Denmark and added a warning, saying European alliance members can say yes “and we’ll be very appreciative. Or you can say, ‘No,’ and we will remember.”

“This enormous unsecured island is actually part of North America,” Trump said. “That’s our territory.”

Key Stock Movers

United Airlines shares climbed 4.2% after the company reported a better than expected earnings.

Netflix stock dropped 2.6% following a fall in subscriber growth.

Halliburton, stock soared 3.9% after the oilfield services firm reported a stronger quarterly profit.

Kraft Heinz shares tanked 4.9% after Berkshire Hathaway said it may sell its 325 million shares in the food giant.

Bullion Market

Gold prices surpassed $4,800 an ounce for the first time on Wednesday as geopolitical tensions including Trump's bid to acquire Greenland drove safe-haven demand.

At 9:30 a.m. ET (1430 GMT), spot gold was up 2.1% at $4,865 per ounce, after rising as far as $4,887.82 earlier in the session. US gold futures for February delivery climbed nearly 2% to $4,858.3 per ounce.

In other metals, spot silver was steady at $94.61 an ounce, spot platinum was 1% higher at $2,487.05 per ounce, and palladium fell 0.9% at $1,849.25.

Oil Crude Oil prices gained on Wednesday as investors assessed a temporary shutdown at two large fields in Kazakhstan.

At 1343 GMT, Brent futures gained 11 cents, or 0.2%, to $65.03 a barrel. The US West Texas Intermediate crude contract rose 14 cents, also 0.2%, to $60.50 a barrel.

Both contracts closed about 1.5% higher in the previous session after OPEC producer Kazakhstan halted output at the Tengiz and Korolev oilfields on Sunday due to power distribution issues.