What we’re reading (1/20)
“The $100 Billion Of U.S. Goods At Risk Of Tariffs In Trump’s Greenland Push” (Wall Street Journal). “The European Union created a list of hundreds of categories of American products last year that it planned to target with import duties if trade talks with the U.S. unraveled. Those levies were put on hold after the two sides struck a deal last summer, but are set to kick in on Feb. 7 unless the bloc acts to extend the suspension.”
“US Oil Production Now 20% Of Global Oil Production” (Torsten Slok). “US oil production has increased dramatically over the past 15 years…and most of the rise is used for exports[.]”
“Is A Stock Market Rotation Underway? These Sectors Are Outpacing Tech In 2026” (Morningstar). “The market is showing hints of a rotation early this year as small-cap companies rise and the tech sector stumbles, reversing stock market trends from 2025. ‘We are most definitely seeing a rotation, and it has picked up some momentum from the end of last year,’ says Michael Arone, chief investment strategist at State Street. Large-cap companies ended 2025 on a high with gains of 19.78%, ahead of their small- and mid-cap counterparts. But early data points to a possible David-and-Goliath reversal. Small-cap companies’ gains have reached 5.57% in the year to date, while large caps have gained a mere 0.56%. Analysts are also seeing signs of a reversal in sector results. Tech is currently the worst-performing sector, losing 0.40% this year. That’s a major shift after 2025’s AI investment boom lifted tech to second best across all US market sectors.”
“Shifting Tides In Global Markets: The Reemergence Of International Investing” (Enterprising Investor). “After more than a decade of US market dominance, 2025 may have marked a turning point for global investors. International equities have surged ahead of their US counterparts, evidenced by strong earnings growth and supported by policy reform momentum and a reassessment of ‘American exceptionalism.’”
“NYSE To Launch New Venue For Tokenized Stocks” (Ledger Insights). “The New York Stock Exchange (NYSE) is developing a platform to trade and settle tokenized stocks 24/7, though the initiative requires regulatory approval before launching. Additionally, parent company Intercontinental Exchange (ICE) is working with BNY and Citi to support tokenized deposits at its clearing houses, marking new banking partnerships beyond its earlier collaboration with stablecoin issuer Circle.”
