Donald Trump's policies and behavior make investors seriously consider withdrawing some funds from the United States. Although the power and scale of the economy and the U.S. financial market will attract them, the process of dedollarization and diversification to the detriment of U.S. assets will continue. Most likely, this will be done in a non-public manner.

Quietly exit the US market: how investors are seeking protection from Trump's policies 

Rheinmetall AG

OHB SE

Gold surpassed $5,000 an ounce amid fears of a debt crisis, inflation and a weakening dollar, reflecting investors' flight to safe-haven assets. The U.S. is increasing pressure on allies, forcing Canada to abandon the idea of free trade with China and threatening new tariffs. On these and other topics - in our review of key events for the morning of January 26.

The main thing for the morning: gold exceeded $5000, Germany will create an analog of Starlink

The VIX fear index fluctuated in a 19% range this week, first rising to 20.1 points as it approached the edge of the stress zone, and then falling about 16%. Investors were reacting not to objective macroeconomic data but to Donald Trump's plans for Greenland - as a result, U.S. stocks <a href="https://www.ft.com/content/cb1a8211-ac60-4cb2-b68f-955f3d0f98f5">lost</a> more than $1 trillion on Tuesday. In such an environment, reactive decisions can lead to financial losses. Why discipline and system help an investor to act more effectively than intuition and quick analytics - explains psychologist Mikhail Tegin.

$1 trillion loss in a day on fear: How market discipline saves money

Amazon.com, Inc.

Walmart Inc.

Alphabet Inc.

On January 15, China's Alibaba <a href="https://www.alibabagroup.com/en-US/document-1948497434959151104">announced</a> that it has begun integrating its online shopping and travel services into its Qwen AI app to create a unified platform for its 100 million users. The new features are available for public testing in China. The company has also launched an invitation-only "task assistant" feature for more complex tasks such as booking trips or building web applications.

How Amazon, Walmart and others are incorporating AI agents into their businesses

Renault SA

Donald Trump said the Greenland deal with NATO was "framed" and rejected new duties against Europe. OpenAI has begun talks to raise up to $50 billion from Middle Eastern sovereign wealth funds. Elon Musk is accelerating SpaceX's IPO to fund space AI data centers and is thinking about returning to politics. The main events of January 19-23 are in our review.

Highlights of the week: Greenland deal, SpaceX IPO acceleration and $50 billion for OpenAI

Eli Lilly and Company

Novo Nordisk A/S

Dr. Reddy's Laboratories Limited

Sandoz Group AG

Hims & Hers Health, Inc.

The United Laboratories International Holdings Limited

Huadong Medicine Co., Ltd

DexCom, Inc.

Abbott Laboratories

Lupin Limited

The market for weight loss drugs that <a href="https://oninvest.com/article/vse-o-nikh-govoriat-kak-novye-preparaty-izmeniat-nashu-zhizn">revolutionized</a> pharmacoculture in the early 2020s is entering a new phase. This year, Novo Nordisk's patents for semaglutide, the active ingredient in Ozempic, perhaps the most famous drug in this class, will expire in five major countries. This means that generic manufacturers will enter the race, new numerous players who are already preparing to make money by flooding the world with inexpensive analogs.

Substance-for-money exchange: $32 billion semaglutide market enters patent collapse phase

Netflix, Inc.

Warner Bros. Discovery, Inc.

Tesla, Inc.

Gold, silver and platinum hit all-time highs due to geopolitical risks and pressure on the US Federal Reserve. Tesla shares rose sharply after Elon Musk announced the launch of robotaxi rides in Austin without the use of a security checker. TikTok finalized the separation of its U.S. business from China's ByteDance. About these and other topics - in our review of key events by the morning of January 23.

Highlights for this morning: TikTok in the US has split from ByteDance, gold price nears $5000

Meta Platforms, Inc.

Highlights for this morning: OpenAI seeks $50 billion, Blue Origin challenges Starlink

Data

Corvus Pharmaceuticals, Inc.

Trinseo PLC

Freedom Broker named two stocks from the Russell 2000 index, which includes securities of small and medium capitalization companies that showed the highest dynamics in the period from January 9 to January 22. The growth leader was Corvus Pharmaceuticals, a developer of atopic dermatitis drug, while the outsider was Trinseo, which produces specialized materials for construction and automotive industries.

Freedom named the leader and outsider of the past two weeks among small-cap companies

Profile Systems & Software SA

The Greek equity market is gradually emerging from the post-crisis period and entering a new, more mature phase. While earlier investors focused primarily on macroeconomic stabilization and the low-base effect, attention has increasingly shifted to the quality of corporate growth, earnings visibility, and the ability to scale without sacrificing margins.

Greece's new economy: Four sectors, five small-cap names to gain exposure in 2026

The Russell 2000, which tracks smid-cap stocks, hit <a href="https://www.bloomberg.com/news/articles/2026-01-22/small-caps-headed-for-longest-win-streak-over-s-p-500-since-1996">another record high</a> on Thursday, January 22, for the eighth time since the start of 2026. It also outperformed the U.S. broad-market benchmark, the S&amp;P 500, for the 14th consecutive session. That marks the Russell 2000’s longest winning streak versus large caps since May 1996, the <i>Wall Street Journal</i> <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-01-22-2026/card/russell-2000-winning-streak-is-its-longest-in-nearly-30-years-RnuZ0lfDDkkDHzTUUXXs?mod=lctimeline_finance">notes</a>. This is just the beginning, according to investment bank <a href="https://www.bloomberg.com/news/articles/2026-01-22/small-caps-headed-for-longest-win-streak-over-s-p-500-since-1996">BTIG</a>.

Russell 2000 sets eighth record high in 2026. How long will the rally go?

The company's CEO noted the 'wow effect on the stock'

Macron's sunglasses at Davos send shares of Italy's iVision skyrocketing

Biohaven Ltd.

Investment bank RBC Capital Markets <a href="https://www.cnbc.com/2026/01/21/this-biotech-stock-has-plummeted-over-the-past-year-rbc-says-it-sees-a-big-gain-ahead.html">upgraded</a>&nbsp;to "outperform"&nbsp;its rating on shares of Biohaven Ltd, a small cap developer of drugs for epilepsy and kidney disease. The upgrade follows new clinical data that, in RBC’s view, reduces development risk and improves the risk-reward profile. The bank now sees potential for the stock to rise 70% from current levels.

RBC Capital upgrades TP and rating on small-cap biotech Biohaven, seeing 70% upside

Small Caps

NVIDIA Corporation

Baker Hughes Company

Merck & Co., Inc.

Revolution Medicines, Inc.

Delta Air Lines, Inc.

Booz Allen Hamilton Holding Corporation

CSX Corporation

Alcoa Corporation

Daily review and forecast of events on the U.S. stock market from Mikhail Denislamov, Deputy Director of Freedom Capital Markets Research.

Morning in New York: the situation is not favorable to excessive risk taking

Ryanair Holdings plc

The Boeing Company

Most Wall Street analysts think Ryanair shares are attractive at the current price point

Ryanair improves outlook due to strong demand. Why did the stock fall?

The market is ready to take any drawdown in gold prices as a buying chance, according to Metals Focus

Gold breaks through $5100 after Trump's muddled decisions. Will the rise continue?

Circle Internet Group

Microsoft Corporation

Broadcom Inc.

ARK Invest has published a big report on technologies that could change the global economy

From robotaxis to nuclear renaissance: Cathie Wood's big ideas for the next five years

Apple Inc.

Wall Street is gearing up for the most eventful week of the first quarter: The U.S. Federal Reserve will hold an interest rate meeting, and a <a href="https://www.barrons.com/articles/stock-futures-sunday-trading-fed-shutdown-7db0cea7?mod=RTA#:~:text=about%20a%20fifth%20of%20S%26P%20500%20companies%20will%20report">fifth</a> of the companies in the S&amp;P 500 index will report earnings, including four issuers from the "Magnificent Seven": Microsoft, Meta Platforms, Tesla and Apple, Yahoo Finance <a href="https://finance.yahoo.com/news/big-tech-earnings-fed-meeting-feature-as-markets-end-january-with-busiest-week-of-q1-what-to-watch-125211822.html">writes</a>.

Review