CNBC's "Fast Money" Stocks Rally As Trump Calls Off Europe Tariffs… And The Next Fed Chair 1/21/26
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Jan 21, 2026 Carter Braxton Worth, a renowned chart analyst known for his technical insights, joins the discussion on the stock market's rally following President Trump's cancellation of European tariffs. He delves into the stark performance divergence between software and semiconductor sectors, proposing a pairs trade strategy. The conversation also covers the broader market reactions, including tech weaknesses and gold’s strength amid Trump's ambiguous remarks on potential Fed chair nominees and the evolving landscape of AI and investment opportunities.
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Headline Relief Drove A Late Rally
- Markets rallied sharply after President Trump called off tariffs and said a framework deal exists over Greenland, despite few specifics.
- Traders reacted to the headline relief even though details and official confirmations remained unclear.
Gold's Bounce Signaled Lingering Skepticism
- Gold rebounded after an initial dip, suggesting some investors stayed cautious despite the tariff news.
- That resilience in gold signaled markets may not fully trust the headline or expect sustained risk-on momentum.
Small Caps Filling Mega-Cap Leadership Gaps
- The market's leadership was shifting as mega-cap tech lagged while small caps and banks outperformed.
- Investors chased cheaper valuations in small- and mid-cap stocks to replace prior leaders during earnings season.