MPC Morning Call 23rd January 2026 – Trumps TACO re-energizes Tech Bulls
Tech bulls reenergized overnight as Trumps TACO filled investors with a “risk on” attitude
WATCH ON YOUTUBE MPC Morning Call 23rd January 2026 – Trumps TACO re-energizes Tech Bulls Tech bulls reenergized overnight as Trumps TACO filled investors with a “risk on” attitude Meta Platforms led a broad tech rally after its shares surged more than 5%, driven by Jefferies reaffirming it as a top pick due to its strong AI prospects and appealing risk-reward profile. Alibaba also gained after reports surfaced of its plan to list its AI chip unit, T-Head. Meanwhile, the earnings season continued with mixed results: Procter & Gamble cut early losses after posting slightly below-forecast revenues; Mobileye and McCormick both fell on disappointing earnings; and Freeport-McMoRan beat forecasts thanks to higher copper prices. Analysts noted that overall corporate performance remained resilient amid a healthy U.S. economy. Attention now turns to next week’s Federal Reserve meeting, where markets widely expect interest rates to remain unchanged despite political pressure for cuts. Economic data supported a positive outlook: initial jobless claims rose only slightly to 200,000, signaling steady employment, and third-quarter GDP grew 4.4%, exceeding forecasts. The upcoming release of the core PCE inflation index — the Fed’s preferred inflation gauge — will be closely watched for clues on monetary policy in the months ahead. On the geopolitical front, tensions subsided after former President Trump announced a framework deal with NATO involving Greenland, retracting his earlier threat to impose tariffs on European nations and to use force over the island. While details remain vague, Trump’s remarks about ongoing discussions regarding a “Golden Dome” defense initiative eased fears of a confrontation. Analysts called the crisis around Greenland unnecessary, labeling its resolution another example of “TACO” — short for “Trump Always Chickens Out” — a phrase popularized on Wall Street to describe Trump’s habit of reversing aggressive policy threats. Earnings: Intel (INTC) fell 9% after it issued quarterly guidance that trailed estimates. The company’s CEO said it is working aggressively to grow supply to meet strong customer demand. Alcoa (AA) rose 4% after it published quarterly results that showed better than expected EPS. Adjusted net income increased to $335 million, or $1.26 per common share Intuitive Surgical (ISRG) rose 2% after it reported stronger results than analysts estimated for the final quarter of 2025. Intuitive Surgical reported Q4 EPS of $2.53, $0.27 better than the analyst estimate of $2.26. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $2.75 billion. CSX Corp. (CSX) climbed 6% after reporting in-line Q4 EPS. Revenue totaled $3.51 billion for the quarter, decreasing 1% year-over-year, as the effects of lower merchandise volume and reduced export coal revenue offset higher pricing in merchandise and intermodal, an increase in intermodal volume, and higher fuel surcharge revenue. Spotify (SPOT) rose 2% after it was upgraded to ’buy’ at Goldman Sachs. Government Bond Yields Commodities, Energy & FX ASX Overnight: SPI 8810 (+0.00%)
Read on MPC Markets Mosaic
