Trump Announces 'Framework' Of A Deal On Greenland | Balance of Power 01/21/2026

Watch on YouTube ↗  |  January 22, 2026 at 00:51  |  47:52  |  Bloomberg Markets
Speakers
Romaine Bostick — Anchor, Bloomberg
Kevin Hassett — Director, White House National Economic Council
Wesley Clark — Former NATO Supreme Allied Commander
Greg Stohr — Supreme Court Reporter, Bloomberg
Lauren Rosenthal — Reporter, Bloomberg
Frank Luntz — Founder, Fil Inc. & West Point Professor
Joe Mathieu — Host, Bloomberg Radio

Summary

Balance of Power covers President Trump's Davos announcement of a framework deal with NATO on Greenland, which avoided planned tariffs on European allies and sparked a broad market rally. The episode also examines the Supreme Court's skepticism toward Trump's attempt to fire Fed Governor Lisa Cook, the political messaging battle over affordability ahead of the 2026 midterms, and a major winter storm threatening Texas's power grid. Later, National Economic Council Director Kevin Hassett argues Trump's tariffs are positively disruptive for the U.S. and European economies.

  • Trump says a Greenland framework deal with NATO averts Feb. 1 tariffs, lifting stocks.
  • Romaine Bostick says the TACO trade remains alive and dip-buying paid off.
  • Rotation into small caps and cyclicals is discussed as RSP returns to all-time highs.
  • Supreme Court justices appear skeptical of Trump's bid to fire Fed Governor Lisa Cook.
  • Frank Luntz says affordability will dominate 2026 midterm messaging.
  • A major winter storm is expected to test the Texas power grid.
  • OpenAI reportedly seeks $50B at an $830B valuation; Apple is reviving Siri.
  • Kevin Hassett says Trump's tariffs are working and could boost Europe.
Ideas
Romaine Bostick Anchor, Bloomberg 1:56
Buy political-chaos dips; TACO trade alive.
The TACO trade remains alive: when Washington political chaos and Trump tariff threats trigger selloffs, traders should lean into the dip because the pattern has been that Trump backs off or a framework/de-escalation emerges, leading to sharp rallies. The S&P 500 had its best day since November and retail investors who bought yesterday's deep selloff were rewarded, confirming the pattern.
SPY HIGH
Romaine Bostick Anchor, Bloomberg 3:40
Rotation favors small caps and cyclicals.
There is a real rotation into small caps and cyclical stocks, supported by expectations that U.S. and global economic conditions will remain supportive. With high-flying mega-cap companies at huge valuations, investors are seeking bargains and a modicum of safety in these cheaper, more economically sensitive areas; the equal-weight S&P 500 (RSP) returning to all-time highs supports this rotation.
RSP IWM XLY MED
Kevin Hassett Director, White House National Economic Council 41:04
Tariffs boost European economy.
Trump's tariffs are positively disruptive for Europe: they force Europe to lift its game, increase defense spending, and reduce zombie companies, and the competition created by tariff uncertainty could give the European economy a real shot in the arm.
VGK MED
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This Bloomberg Markets video, published January 22, 2026, features Romaine Bostick, Kevin Hassett discussing SPY, RSP, IWM, XLY, VGK. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Romaine Bostick, Kevin Hassett  · Tickers: SPY, RSP, IWM, XLY, VGK