Chapter 1: What is the main topic discussed in this episode?
Public.com presents The Rundown, your daily market update in under 10 minutes. My name is Zaid Admani, and today is Friday, January 23rd. In today's episode, we'll tell you why international investors are quiet quitting US assets. We'll also recap earnings from Intel and break down who owns TikTok now.
Then stick around to the end of the show to learn a shocking stat about the college football championship game. We got a great show for you today. Let's go. The Greenland relief rally continued on Thursday with the S&P 500 up about half a percent and the NASDAQ jumped nearly 1%.
You know, investors were breathing a sigh of relief when President Trump walked back his tariff threats on European countries regarding Greenland. And this was like the classic taco trade playing out again. When markets start tanking, Trump tends to back off on his threats. And when he does, markets go back to rallying.
Chapter 2: Why are global investors diversifying away from U.S. assets?
And I guess this will probably keep happening during this administration. Now, with all this volatility and uncertainty, investors continue to push into gold. Gold is already up 13% this year and it's about to cross $5,000 an ounce. But beyond just gold, investors, especially international investors, are starting to look at other areas to invest in outside of the U.S.
Bloomberg is describing this as global investors quiet quitting U.S. assets. International investors and central banks are selling U.S. treasuries and stocks and putting that money into gold and also emerging markets. In fact, emerging market stocks are up 7% this year compared to roughly 1% for the S&P 500.
So early signs point to gold and international stocks outperforming US stocks again this year.
By the way, we're gonna be talking to Kyla Scanlon about all the big things happening in macroeconomics, including the Greenland situation, how the bond market is acting as the fourth branch of government, and what's happening in the Japanese bond market and the impact that's having on markets all over the world.
We already recorded that conversation and it's gonna be posted on Sunday morning, so keep an eye on your podcast feed for that. Let's run through some headlines. Starting with Intel. Intel reported earnings last night and investors are walking away disappointed because of underwhelming revenue and profit outlook, even as demand for AI data center chips continue to explode.
Intel expects Q1 revenues to be between $11.7 and $12.7 billion, which is on the lower end of Wall Street's $12.6 billion expectations. Now what's crazy here is that Intel admitted that it underestimated how strong data center demand would be, and that it simply doesn't have enough chips to meet orders in the current quarter.
Their data center business did grow 9% year over year to $4.7 billion in Q4, but executives said the company left meaningful revenue on the table because it was caught flat-footed on manufacturing capacity.
On top of the weak guidance, Intel swung to a loss in Q4, and they anticipate deeper losses in the current quarter as it ramps up production of its newest chips and looks to solve its inventory shortage. So when you add all that up and investors are pretty frustrated, Intel stock is down 13% at the time of this recording. You know, a lot is riding on Intel's turnaround plan.
The company is trying to reinvent itself as a viable U.S. manufacturer of advanced AI chips. You know, they've received direct investments from the U.S. government, along with Nvidia, which invested $5 billion and SoftBank, which invested $2 billion. And it was all this hype and investment that pushed Intel stock up 84% in 2025. And the stock was already up another 35% this year.
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