Market Beats | Trump’s Davos Trip Delayed by Air Force One Glitch; Nvidia CEO Jensen Huang Plans Late-January China Visit to Boost H200 Market Entry; US Mortgage Applications Hit 3-Year High; Bridgewater China Posts Record 45% Gain in 2025; Trump Presses Europe in Davos to Cede Greenland; US Pending Home Sales Plunge in December by Most Since 2020; Archegos Founder Bill Hwang Seeks Presidential Pardon for Multi-Billion Dollar Fraud

—— Trump’s Davos Trip Delayed by Air Force One Glitch; Nvidia CEO Jensen Huang Plans Late-January China Visit to Boost H200 Market Entry; US Mortgage Applications Hit 3-Year High; Bridgewater China Posts Record 45% Gain in 2025; Trump Presses Europe in Davos to Cede Greenland; US Pending Home Sales Plunge in December by Most Since 2020; Archegos Founder Bill Hwang Seeks Presidential Pardon for Multi-Billion Dollar Fraud

1. Trump’s Davos Trip Delayed by Air Force One Glitch

President Donald Trump’s arrival at the World Economic Forum (WEF) in Davos was delayed by approximately three hours on Wednesday after a mechanical issue forced Air Force One to return to Maryland shortly after takeoff. The Boeing 747 was about 45 minutes into its flight when the crew identified a “minor electrical issue” that caused lights to flicker in the press cabin. Trump eventually switched to a smaller Boeing 757 (C-32) and departed Joint Base Andrews just after midnight, landing in Switzerland later Wednesday afternoon.

The delay has caused significant disruptions to the President’s scheduled itinerary. U.S. Treasury Secretary Scott Bessent confirmed that Trump’s highly anticipated special address, originally slated for 2:30 p.m. local time, would be delayed. Additionally, a planned bilateral meeting with German Chancellor Friedrich Merz on Wednesday has been canceled due to the late arrival.

Despite the setback, Trump is expected to deliver a robust speech focusing on the “tremendous success” of his administration’s first year, while likely doubling down on his controversial push for Greenland and related tariff threats against European allies.

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2. Nvidia CEO Jensen Huang Plans Late-January China Visit to Boost H200 Market Entry

Nvidia CEO Jensen Huang is planning to visit China in late January 2026, aiming to personally facilitate the re-entry of his company’s AI chips into this vital market. According to sources familiar with the matter, Huang will attend corporate Lunar New Year celebrations and is expected to visit Beijing for high-level discussions. The visit comes at a pivotal juncture, following the Trump administration’s formal approval on January 13 to export the H200 AI processor to China—albeit with unprecedented restrictions, including a 25% revenue share for the U.S. Treasury and a 50% supply cap relative to the U.S. market.

However, Nvidia faces a “cooling” reception in China. Beijing has reportedly advised domestic tech firms to prioritize homegrown AI solutions over the H200 to bolster semiconductor sovereignty. Recent reports suggest Chinese customs have even paused H200 imports as officials deliberate on mandatory purchase ratios for local chips. For Huang, this routine annual trip has evolved into a high-stakes diplomatic mission to salvage a market that analysts estimate could represent a $50 billion opportunity.

As competitors like Huawei gain ground and regulatory barriers rise on both sides, Huang’s visit will focus on securing “case-by-case” approvals for major Chinese clients while navigating the complex “managed access” framework imposed by Washington.

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3. US Mortgage Applications Hit 3-Year High

U.S. mortgage applications for home purchases climbed last week to their highest level since January 2023, as easing financing costs began to stimulate the housing sector. According to Mortgage Bankers Association (MBA) data released Wednesday, purchase applications rose 5.1% in the week ended January 16, while the average contract rate for a 30-year fixed mortgage dipped to 6.16%—the lowest mark since September 2024.

The downward trend in rates follows President Donald Trump’s recent order for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities (MBS), a strategic move aimed at lowering borrowing costs for American homebuyers. This intervention triggered a massive wave of activity, with the refinancing index surging over 20% last week following a 40.1% jump the week prior, marking the third consecutive week of growth in overall mortgage demand.

However, the sustainability of this recovery remains in question due to external economic pressures. A severe rout in Japanese government bonds has spilled over into global markets, pushing the U.S. 10-year Treasury yield to its highest level in months.

Additionally, escalating tensions between President Trump and European allies over Greenland have prompted some international investors to offload U.S. government debt, creating upward pressure on long-term yields that could eventually reverse the recent decline in mortgage rates.

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4. Bridgewater China Posts Record 45% Gain in 2025

Bridgewater Associates remains bullish on Chinese equities for 2026 after its onshore hedge fund delivered a 45% return last year, its best performance in at least five years. In a December letter to investors, the firm’s Shanghai-based unit noted that the All Weather Plus fund significantly outperformed the benchmark CSI 300 Index, which rose 18% in 2025. The strong gains were driven by supportive domestic policies, easing external risks, and a surge in market confidence following the success of the homegrown AI model DeepSeek.

The fund’s success in 2025 was a combination of its systematic All Weather strategy, which contributed 25.8%, and active management, which added another 17%. Despite the substantial rally last year, Bridgewater believes Chinese stocks remain “attractive to some extent” as corporate earnings expectations continue to improve. Looking ahead to 2026, the firm expects Beijing to maintain its stimulative policy stance and currently holds a “moderate overweight” position on Chinese risk assets.

With assets under management in China now reaching approximately 60 billion yuan, Bridgewater continues to widen its lead over other foreign private fund managers in the region.

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5. Trump Presses Europe in Davos to Cede Greenland

President Donald Trump escalated pressure on Europe during his speech at the World Economic Forum in Davos on Wednesday, asserting that NATO owes it to the United States to grant full rights to Greenland. Citing national security reasons, Trump called for “immediate negotiations” to acquire the sovereign Danish territory. While he ruled out the use of military force, he suggested that Europe’s response would influence his future commitment to NATO. Framing the acquisition as a “small ask” compared to decades of US-provided defense, Trump warned allies that a refusal would be “remembered” by his administration.

The speech triggered strong pushback from major allies including Germany, France, and the UK, though his pledge not to use force provided some relief to global markets and European capitals.

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6. US Pending Home Sales Plunge in December by Most Since 2020

Pending sales of US existing homes fell in December by 9.3%, the largest monthly drop since April 2020, interrupting what had appeared to be a budding recovery in the housing market. Data released Wednesday by the National Association of Realtors (NAR) showed the index of contract signings decreased to 71.8, a decline that was broader and deeper than economists had anticipated. NAR Chief Economist Lawrence Yun noted that while several months of encouraging signs had emerged earlier, the December figures have dampened the short-term outlook, signaling that the housing sector remains in a challenging position.

The drop was the largest for any December in records dating back to 2001, even after adjusting for typical seasonal patterns. Yun stated it remains unclear whether this plunge is a one-off event or the beginning of a downward trend. Since pending home sales typically lead actual closings by one or two months, this decline suggests a weakening in sales activity for the early part of the new year.

Despite recent dips in mortgage rates, a persistent lack of inventory and broader economic concerns continue to keep prospective buyers from committing to new home contracts.

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7. Archegos Founder Bill Hwang Seeks Presidential Pardon for Multi-Billion Dollar Fraud

The U.S. economy added a modest 50,000 jobs in December, falling short of the 70,000 forecasted by economists, according to the Bureau of Labor Statistics. Despite the weak hiring figure, the unemployment rate unexpectedly dropped to 4.4% from November’s 4.6%. This latest report provides a much-needed clear view of the labor market following months of data distortion caused by the 43-day federal government shutdown last fall.

[Image showing US Treasury yield movements and Fed rate cut probability after December 2025 jobs report]

The December results capped off a “grim” 2025 for American workers, with average monthly job gains plummeting to 49,000 from 168,000 in the previous year. Following the release, short-term Treasury yields edged higher as the drop in the jobless rate dampened hopes for a January rate cut. Federal Reserve Chair Jerome Powell had previously expressed skepticism about BLS accuracy, suggesting actual job growth might be 60,000 lower per month than reported.

While hiring in the private sector remains in a “pause” as firms assess the impact of AI and trade policies, the surprise fall in unemployment has led major analysts, including those at Goldman Sachs, to predict that the Fed will hold rates steady at its upcoming meeting.

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