Here are the takeaways from today’s Morning Brief, which you can register to receive every morning in your mailbox accompanied by:
Covering the World Economic Forum in Davos, Switzerland every year is something I consider a competitive sport.
I’m actually starting to train for the intense summer week, as my few close friends know (and yes, they all make fun of me). The number of workouts each week gradually increases, making it easy for me to run the two-mile walk with a backpack to attend as many meetings as humanly possible (yes, I do that).
My one cheat meal a week is replaced with green drinks and extra doses of vitamins to ensure I don’t get sick. I meditate twice a day and carefully choose clothing that I know will help me perform at the highest level. Look good, feel good, good things are coming.
For me, this event is the closest I’ll ever get to being like Michael Jordan in the playoffs – and I’m very lucky to be there.
And this year, the gathering of elites coming on private jets to wax poetic about the world’s biggest issues will be even crazier.
Learn more: Here are the biggest global risks for 2025
The conference unofficially begins on Trump’s inauguration day. Some CEOs I know who would normally be in Davos all week are coming back mid-week after going on the inauguration tour. By Tuesday, the new president could have issued a series of executive orders that could impact the activities of top CEOs on the ground. And of course, this will impact global markets.
That’s why this year’s WEF will be more important than the norm for you, the average investor. The headlines will be hot and heavy as CEOs seek to challenge Trump or side with him. They will also be looking to make a case for their business before earnings season begins and as markets become a little more volatile of late.
This is what is truly yours and ours Jennifer Schoenberger I’ll be watching while bundled into five layers all week. Be sure to bookmark the “stream now” section on Yahoo Finance to follow all of our market development interviews in real time. Or tune in where you usually see us, whether that’s on a Samsung TV or our nifty app.
Unlike our previous trips to Davos over the past decade, I will be recording several special episodes of the Opening Bid podcast on the ground. I could tell you who those guests will be, but where’s the fun in that? Better to be surprised!
Now let’s move on to this guide…
CEOs of major banks: The biggest names in banking, such as Jamie Dimon, CEO of JPMorgan (JPM), Brian Moynihan, CEO of Bank of America (BAC), David Solomon, CEO of Goldman Sachs (GS), Jane Fraser, CEO of Citi ( C), and Morgan Stanley (MS). Ted Pick will be there. Although this group will all be asked about Trump’s policies, it will be their outlook on interest rates that will be most determining for market sentiment. Most have not spoken publicly since the Fed signaled a likely halt to rate cuts last month, and they will want to make their voices heard ahead of the Fed’s Jan. 28-29 policy meeting.
The CEO rate: Retail will have some nice representation at Davos, with the CEOs of Polo Ralph Lauren (RL), Williams Sonoma (WSM) and Gap (GAP) (their CEO’s first time at the event) making the rounds. These companies are right in the middle of the pricing debate. I will be interested to know how they prepare for the Trump tariffs from a supply chain perspective. I’m also interested in how much they might raise prices after the tariffs are removed – this could provide valuable insight into the 2025 inflation outlook and Fed policy.
The race to catch up with Nvidia: It will be another year of AI discussions in the halls of Davos. This time, I think the discussions will take two forms. First, unlike last year, when discussions about AI were mostly about potential, investors will want to see clear lines between revenue and profits. So I encourage AI CEOs to bring it. And second, we’ll likely learn more about how big tech players like Microsoft (MSFT) and Alphabet (GOOGL) aim to develop their own high-powered AI chips to catch up to Nvidia (NVDA), or at least make chips good enough to diversify. . Executives from OpenAI and Anthropic will also be there, and their thoughts on the chips could be key. I’ll be watching Nvidia’s stock price like a hawk this week, and you should be too.
Crypto delegation: The crypto industry has had a strong presence in Davos over the past five years. This year, the industry is expected to be out in force, headlined by an appearance by Coinbase (COIN) CEO Brian Armstrong. I’ll be all ears to see what cryptocurrencies think about the latest bitcoin volatility, MicroStrategy’s (MSTR) bitcoin buying spree, what they hear from the pro-administration crypto Trump and early assessments of Paul Atkins as the likely next SEC. president.
And of course, the new Trump coin which debuted to great fanfare (and market cap) on Friday.
Actions: The stocks are starting to look very heavy (especially the Magnificent 7), as I reported. I look forward to hearing from market professionals such as JPMorgan Marie Erdoès and economic experts like Nouriel Roubini wonder if they see any warning signs on the horizon. The decisions they make in Davos could carry greater weight given Trump’s more volatile market conditions and increased policy uncertainty.
The political jokers: As of this writing, contacts have informed me that President-elect Donald Trump is considering sending delegates to Davos. Whoever gets the green light precisely is the joker. (I imagine it will be potential Commerce Secretary Howard Lutnick, a regular on the Davos party scene for many years. Elon has hated Davos for a long time, so it’s hard to see him showing up). Trump himself is expected to deliver a remote speech on Thursday, a source told Yahoo Finance.
But who ultimately emerges from Trump’s orbit — and what they say once they arrive — could set the tone for U.S. international relations from the start. If a delegate arrives in Davos days after Trump took actions that could weigh on economic growth in foreign countries and then seeks to explain those actions, one has to believe that the inevitable headlines may not be as favorable to the walk.
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Brian Sozzi is the editor-in-chief of Yahoo Finance. Follow Sozzi on @BrianSozzi, Instagram and on LinkedIn. Any advice on stories? Email [email protected]. Three times a week, Sozzi participates in insightful conversations with the biggest names in business and markets on Yahoo Finance. Opening offer podcast. Find more episodes on our video center. Monitor your favorite streaming service. Or listen and subscribe at Apple Podcasts, Spotifyor wherever you find your favorite podcasts.
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