5 Things to Watch on
January 22, 2026

Markets are up in premarket trading, extending gains after President Trump reversed course on proposed tariffs against European countries and signaled a tentative "framework" deal over Greenland. The walk-back eased trade-war fears and revived risk appetite, with investors leaning into the so-called "TACO" trade as geopolitical tensions cooled. Treasury yields were mixed, with modest declines at the long end reflecting some relief after recent volatility.

Attention now turns to President Trump's speech at Davos for clarity on policy follow-through, as well as upcoming U.S. data including the PCE inflation report and jobless claims. While the tariff retreat sparked a global relief rally, investors remain cautious, watching for details on the Greenland framework and Europe's response, with markets still down modestly for the week despite the rebound.

General Electric (GE) is down over -1.0% in premarket trading despite outlined a bullish outlook through 2026, projecting solid revenue growth and rising operating profit, led by Aerospace's expanding services business. Management highlighted the strength of its large installed engine base, which continues to drive recurring, high-margin service revenue. While the growth profile remains attractive, investors are increasingly focused on valuation, with GE trading near historical highs on earnings and book metrics. The setup positions GE as a quality growth story, but one where execution will need to justify the premium.

Procter & Gamble (PG) is down more than -1.0% in premarket trading after a softer quarter underscored uneven consumer demand. While overall sales momentum stalled, strength in beauty and healthcare highlighted the benefits of innovation and pricing power in select categories. That progress was offset by weakness in family- and baby-related products and continued cost pressures. Management struck a confident tone, emphasizing discipline, shareholder returns, and expectations for a stronger second half despite a challenging global backdrop.

Rocket Lab (RKLB) is down more than -1.0% in premarket trading after reporting a setback during Neutron development after a first-stage tank failed in a stress test, a step the company says is part of pushing designs to their limits. With no facility damage and a replacement already underway, development continues. The update was balanced by a successful Electron launch, reinforcing RKLB's operational strength as it advances toward its next-generation rocket.

Blue Origin announced plans to deploy 5,408 satellites for a new communications network called TeraWave, targeting enterprise, data center, and government users. The constellation is designed to deliver data speeds of up to 6 terabits per second from low and medium Earth orbit, with deployment expected to begin in Q4 2027. The move puts Jeff Bezos' space venture in direct competition with SpaceX's Starlink and Amazon's (AMZN) Project Kuiper, as the satellite internet market becomes increasingly crowded.