Here are the takeaways from today’s Morning Brief. Sign up to receive the following in your inbox each morning:
Covering the annual World Economic Forum in Davos, Switzerland, is a competitive sport for me.
As my few close friends know, I’m actually starting to train for an intense week of summer (and yes, they all make fun of me). The number of weekly workouts gradually increases towards that point, so it’s easy to backpack up and down a two-mile boardwalk and cram into as many meetings as humanly possible ( Yes, I do that too).
My weekly cheat meal is replaced with a green drink and extra vitamins to keep me from getting sick. I meditate twice a day and carefully choose clothing that I believe will help me perform at my highest level. Look good, feel good, and good things will happen.
For me, this event is the closest I get to being like Michael Jordan in the playoffs, and I’m so lucky to be a part of it.
And this year, the gathering of elites jetting in on private jets to wax poetic about the world’s biggest issues will be even more special.
Read more: Here are the biggest global risks of 2025
The meeting begins informally on President Trump’s inauguration day. Some CEOs I know who would normally be in Davos all week are returning mid-week after a round of inaugural parties. By Tuesday, the newly sworn-in president could pull the plug on a number of executive orders that could affect the business of top CEOs in the field. And of course, it also affects the global market.
This is why this year’s WEF will be more important to you, the average investor, than usual. Headlines will be hot and heavy as CEOs seek to challenge or take advantage of Trump. They will also consider discussing the businesses of both companies ahead of the start of earnings season, given the market has been a bit volatile lately.
Here’s what you and our very own Jennifer Schoenberger are looking at all week bundled up in five layers. To watch all the market-moving interviews in real-time, be sure to bookmark the Now Streaming section on Yahoo Finance. Or watch it wherever you usually watch our shows, like on your Samsung TV or in our nifty apps.
Unlike previous trips to Davos over the past decade, I will be recording several special episodes of the Bid Opening Podcast on site. We can tell you who the guests will be, but where’s the fun in that? The best thing is to be surprised!
story continues
Now, let’s move on to that guide…
Major Bank CEOs: JPMorgan (JPM) CEO Jamie Dimon, Bank of America (BAC) CEO Brian Moynihan, Goldman Sachs (GS) CEO David Solomon, Citi (C) CEO Jane Fraser, Morgan Banking industry luminaries such as Stanley (MS) CEO Ted Pick will also be in attendance. All of this group will be asked questions about President Trump’s policies, but the key to market sentiment will be the outlook for interest rates. Most chairmen have not spoken publicly since the Fed signaled the possibility of pausing interest rate cuts last month, and are expected to be heard ahead of the Fed’s policy meeting on January 28-29. I hope so.
Tariff CEO: Retail will have a great display at Davos, with CEOs from Polo Ralph Lauren (R), Williams-Sonoma (WSM) and Gap (their CEOs attending the event for the first time). attend. These companies are in the middle of tariff discussions. I’m interested in how they are preparing for Trump tariffs from a supply chain perspective. I’m also interested in how much prices can be raised after the tariff hike. That could provide valuable insight into the 2025 inflation outlook and Fed policy.
Read more: How do tariffs work and who actually pays them?
The race to catch Nvidia: This will be another year when artificial intelligence will be talked about across the halls of Davos. I think this discussion will take two forms. First, unlike last year, when the discussion around AI was primarily about potential, investors will want to see a clear line between revenue and profit. So I encourage AI CEOs to adopt it. And second, big tech companies Microsoft (MSFT) and Alphabet (GOOGL) are building their own high-performance chips to compete with Nvidia (NVDA), or at least make chips good enough to diversify. We’ll probably hear more about how it aims to develop AI chips. . Leaders from OpenAI and Anthropic will also be in attendance, and their thoughts on the chip could be key. I’ll be watching Nvidia’s stock price like a hawk this week. And so should you.
Crypto Delegation: The crypto industry has had a strong presence at Davos for the past five years. Industry activity is expected to pick up steam this year, led by the arrival of Coinbase (COIN) CEO Brian Armstrong. I discuss Bitcoin’s recent volatility, MicroStrategy’s (MSTR) Bitcoin binge, what we’re hearing from the pro-crypto Trump administration, and early assessments of Paul Atkins, likely the next SEC. is very sensitive to what virtual currency fans think about it. chairman.
And, of course, the new Trump coin, which debuted to much fanfare (and market cap) on Friday.
The token quickly rose to a market cap of $73 billion in about 48 hours, surpassing DOGE as the largest meme coin to date.
According to CoinMarketCap, the cryptocurrency’s market capitalization has fallen to $12 billion since its launch.
Stocks: As I reported, stocks are starting to look top-heavy (especially Magnificent 7). I’d like to hear from market experts like JPMorgan’s Mary Erdoes and economic experts like Nouriel Roubini about whether there are any red flags on the horizon. Whatever they say at Davos could carry more weight given more volatile market conditions and increased uncertainty about Trump’s policies.
Political wildcard: As of this writing, officials have heard that President-elect Donald Trump plans to send a delegation to Davos. The person who nods correctly is the wild card. (I suspect it will be Commerce Secretary nominee Howard Lutnick, a longtime Davos fixture. Elon has long hated Davos, so I’d like to see him appear.) It was painful to watch). Trump himself plans to speak remotely on Thursday, a person familiar with the matter told Yahoo Finance.
But who ultimately emerges from President Trump’s orbit, and what they say after landing, could soon set the tone for America’s international relations. When delegates arrive at Davos days after President Trump takes actions that could depress economic growth abroad and attempt to explain those actions, the inevitable headlines may not be so market-friendly It would be better to think that there is.
—
Brian Sozzi is editor-in-chief of Yahoo Finance. X Follow Sozzi on @BrianSozzi, Instagram and LinkedIn. Any hints about the story? Email brian.sozzi@yahoofinance.com. Three times a week, Sozzi has insightful conversations with some of the biggest names in business and markets on Yahoo Finance’s Open Bid podcast. Find more episodes on our video hub. Watch on your favorite streaming service. Or listen or subscribe on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.
For the latest stock market news and in-depth analysis of price-moving events, click here
Read the latest financial and business news from Yahoo Finance
