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Happy Wednesday. This is TheStreet’s Stock Market Today for Jan. 21, 2026. You can follow the latest updates on the market here in our daily live blog.
Update: 3:57 a.m. ET
A.M. Update: Daylight in Davos
Good morning. After a longer holiday weekend, this week’s opening trade turned out to be quite a wreck. Over 70.7% (3,900) of U.S. issues declined on Tuesday against just 26.4% (1,457) that advanced as headlines declared that Europe was ready to resist President Donald Trump and his threat to seize Greenland.
The Nasdaq Composite and S&P 500fell 2.39% and 2.06% respectively, while the Dow (-1.76%) and Russell 2000 (-1.20%) saddled similar losses. The events came as investors were left awaiting the Supreme Court’s decision on the fate of Trump’s tariffs, Trump’s trip to Switzerland for Davos, and the first wave of Q4 earnings.
Those of you who know your way around a Terminal know how these sorts of tumbles go. In futures trading this morning, U.S. equity benchmarks are up about one-third of a percentage point, undoing some of yesterday’s steep losses. The “buy the dip” mentality always seems to trail a “sell the news” event.
However, in light of the worst trading day since the Apr. 2024 Rose Garden tariff fiasco, you might just wake up to a bloodbath, especially as White House leadership embark to Davos. And based on how blasé and callous the American rhetoric has been, especially with regards to possible countermeasures, anything could undo a comeback bid.
That said, here’s what is on deck for today:
Earnings Today: Johnson & Johnson, Charles Schwab, Prologis
Today will see a wide variety of regional banks reporting, both in the premarket and aftermarket session. However, this morning’s biggest reports will come from health care giant Johnson & Johnson, brokerage Charles Schwab, and REIT Prologis, among others:
Then, after the market closes, we can expect another row of regional bank reports, along with reports from oil & gas company Kinder Morgan, IT company Caci International, and trucking company Knight-Swift:
With all of the regional banks reporting today, you’ll want to keep an eye on the S&P Regional Bank ETF ($KRE), which might be especially responsive to reports. Since its lows in Nov. 2025, the index is up more than 14%. If it were to have a breakout amid the recent geopolitical tremors, it would likely come from better-than-expected results from this pocket of the financial sector.
Economic Data + Events: Davos, Home Sales, Greenland Developments
As aforementioned, U.S. leadership are in Davos for the annual World Economic Forum summit. Before President Donald Trump has even arrived, it’s already shaping up to be quite the exchange of ideas, with U.S. Treasury Secretary Scott Bessent saying Denmark is “irrelevant” in regard to one of the country’s pension funds selling $100 million in Treasurys. (Bessent says that they have been doing that for years and that he’s not concerned.)
At the center of it all will be a highly anticipated speech from the President, which is sure to feature some fireworks, given the ongoing Greenland spat kickstarted by the administration. Of course, the infighting has offered cover for some of the more interesting touchpoints at the conference, including BlackRock CEO Larry Fink predicting “big failures” in the AI market.
In addition, we have the typical prescription of economic data. We’ll be getting new data from the Mortgage Bankers Association, plus the latest on pending home sales, construction spending, and Redbook:
