Trump's Davos speech triggers market fluctuations! Gold short-term decline, cryptocurrencies return above $90,000.

During the World Economic Forum in Davos, Switzerland, on Wednesday, President Trump made a speech addressing various issues, including Greenland, energy policy, financial market performance, and cryptocurrency regulation, drawing high attention from international political circles and markets. Regarding the Greenland issue, Trump explicitly stated that he will not use military force, saying "I don't need to use force, and I don't want to use force." However, he emphasized that without "full ownership" of Greenland, it would be difficult to defend legally and psychologically, pointing out that Greenland is crucial for its "Golden Dome" missile defense plan. Trump stated that leasing agreements alone would not satisfy defense needs and expressed a desire to begin "immediate negotiations" on the matter. As a result, the price of gold plummeted by about $40 in the short term. Although Trump ruled out military options, his stance still raised concerns among European allies. Earlier, several world leaders at Davos expressed concerns about his Greenland remarks, believing that it could further exacerbate tensions in trans-Atlantic relations. Trump, however, stated in his speech that the U.S. "strongly believes" in its alliance with Europe and emphasized that energy, trade, immigration, and economic growth are core issues for maintaining Western unity. Stock market hits new highs as an "achievement report" of his presidency In terms of economy and markets, Trump reiterated the strong performance of the US market during his presidency, stating that since the November 2024 presidential election, U.S. stocks have reached "52 all-time highs." Since taking office on January 20, 2025, the three major stock indices have performed well, with the S&P 500 index up 13.3%, the Nasdaq Composite index up 16.9%, and the Dow Jones Industrial Average up 11.5%. Trump sees these performances as a reflection of the effectiveness of his economic policies. Energy policy: Support for fossil fuels and favor for nuclear energy On the energy front, Trump once again expressed his support for the oil and natural gas industry, stating that U.S. natural gas production is "higher than ever in history," and oil production is also at high levels. He pointed out that increased energy supply helps reduce inflation and improve livelihoods. Trump also mentioned that the U.S. has obtained about 50 million barrels of oil post the change in the situation in Venezuela and their huge potential reserves, which could further lower energy prices. He stated that gasoline prices in several states are now below $2.50 per gallon. However, according to data from the American Automobile Association, the average price of regular gasoline in the U.S. is still around $2.83 per gallon, a slight decrease from the same period last year. At the same time, Trump stated that the government will "vigorously develop nuclear energy" but continued to criticize renewable energy projects such as wind power, believing that they cause damage to the environment and landscape. Stocks related to nuclear energy rose collectively, with Oklo Inc (OKLO.US) rising over 6%, NuScale Power (SMR.US) rising over 9%, Centrus Energy (LEU.US) rising 0.68%, and Cameco (CCJ.US) rising over 2.7%. Uncertain prospects for cryptocurrency regulation legislation In terms of financial regulation, Trump called on Congress to pass legislation regulating the cryptocurrency market. Bipartisan senators had previously attempted to push for related legislation, but it faced opposition from some cryptocurrency companies due to the proposed ban on crypto platforms paying interest to deposit customers, halting the progress of the bill. The cryptocurrency industry believes that high returns are an important means of attracting investors, while community banks are concerned about the outflow of deposits from high-yield products. White House officials expressed frustration with this, but the uncertainty remains as to whether the bill will restart. After Trump's speech, Bitcoin rose in the short term, returning to above $90,000. New selection for the Federal Reserve Chairman will be announced soon Trump stated that his nominee for Federal Reserve Chairman will be a man. This aligns with the current reported list of candidates, including White House economic adviser Kevin Hassett, Fed board member Chris Waller, former Fed official Kevin Warsh, and BlackRock, Inc. executive Rick Rieder. Trump said, "I will announce a new Federal Reserve chairman soon. He will be a man. I think he will do very well and will be a respected person." Additionally, Trump added, "Every candidate interviewed for the Federal Reserve Chairman position has been great. But the problem is, once they take on the role of Federal Reserve Chairman, they change their stance, which is somewhat disloyal. Once they become the Federal Reserve Chairman, the change is remarkable. Overall, Fed Chairman Powell has been too slow on interest rates. I hope the new Fed Chairman does his job well." Verbal sparring with Canadian and European leaders In his speech at Davos, Trump also made strong remarks regarding Europe and Canada, stating that some regions in Europe have become "hard to recognize" and believing that Europe is not moving in the right direction. French President Macron warned earlier that authoritarianism could lead to "a world without rules." In response to Canadian Prime Minister Trudeau's remarks about the "old order not returning," Trump openly refuted him, stating that Canada is "highly dependent on the United States" economically and in terms of security, further intensifying market concerns about the direction of North American and trans-Atlantic relations.