Markets Cheer for TACO Trade Return & Ryanair vs. Musk is Good for Biz
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, it's tacos for breakfast as Trump backs off Greenland tariff threats.
Ben, is Elon Musk really going to buy Ryanair? It's Thursday, January 22nd.
What impact did Trump's tariff threats have on the markets?
Let's ride.
This winter, America is turning into a nation of monks. Not only is dry January in full swing, but a new, even more hardcore test of discipline has surged in popularity. No, by January, the wall street journal notes that many younger people inspired by social media have taken a pledge to avoid purchasing anything that's not essential. things like clothes or electronics, for the 31 days of January. It's not necessarily new, but it is far more mainstream than before. Google searches for no-buy January hit a five-year high this December, according to PwC, and a survey by NerdWallet found more than one quarter have tried no-spend January, with 12% hopping on the trend in 2026. Toby, what do you think is easy for you?
Dry January or no-buy January?
See, I'm more of a financially crippling February kind of guy, a multi-buy March, an affluent April, a massive debt May kind of guy. In reality, I do love any January challenge. So for the last eight or nine days of the year, I'm not buying anything either in solidarity with my no-buy brethren. Of the month, of the month. So I can buy, I cannot buy something for eight days, I think. And now a word from our sponsor, Indeed. Neil, I'm finally adopting AI. Sudden change of heart around technology? Nope. AI is the name of a very mean kitten I found outside my apartment.
Well, in less bitey news, we're here at the World Economic Forum in Davos this week, and Indeed is here too, diving into things like how AI is transforming jobs, skills, and employer adoption. Indeed will be sharing real-time insights like that into the global labor market and how leaders can navigate the workforce challenges and opportunities ahead.
Indeed's Helping Business Leaders and Hiring Professionals dive into these perspectives through Indeed's Global Labor Market and Workforce Trends Report.
This report also includes where job opportunities are growing, where skill shortages and mismatches could impact business performance. and how immigration patterns are shaping workforce capacity.
Together, these insights help leaders prepare for what's next and make better workforce decisions grounded in real-time data. Learn more at Indeed.com slash Davos. That's Indeed.com slash Davos. There's something about some fresh alpine air that makes cooler heads prevail. Trump's aspirations to acquire Greenland took a chill pill in Davos as he announced that he had reached a framework of a future deal for Greenland with NATO's head at the World Economic Forum. That sound you hear is Wall Street breathing a huge sigh of relief because tacos are back on the menu. The taco trade, aka Trump always chickens out, roared back to life. The announcement of the handshake agreement helped markets climb out of the dip they experienced earlier in the week that was fueled by fears of growing EU and US tension and the threat of new tariffs on seven European countries.
Think back to Tuesday. Europe was readying its so-called tariff bazooka for the retaliatory punch of blocking US goods and services from the lucrative EU market, while US bonds were spiking and the dollar was falling. But post-Greenland announcement, the 10-year U.S. bond yield chilled out a little, the dollar index jumped, and stocks made a nice recovery. Neal, zooming out a little bit, Greenland was certainly a major theme at Davos this year, but far from the only one. We also had Mark Carney, Canada's PM, talking about the end of rules-based order. BlackRock CEO Larry Fink warning of AI's power to increase wealth inequality. and Jamie Dimon railing against a proposed 10% cap on credit card interest rates.
But let's start back at this handshake deal. What details do we even have about it?
Yeah, we have very few details. It's certainly a concept of a framework of a deal that will be negotiated in the future.
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