Summary3 min read

WSJ Your Money Briefing

Episode: What’s News in Markets: Intel Slides, Gold Surges and the TACO Trade Is Back
Date: January 24, 2026
Host: Hannah Aaron Lange (for The Wall Street Journal)

Episode Overview

This episode of "What's News in Markets" delivers a concise yet thorough roundup of the week's market movers, with a particular focus on the impact of political drama from President Trump, surges in gold, significant slides among major stocks such as Intel and McCormick, and the return of Wall Street's "TACO Trade." The analysis is presented in typical WSJ fashion: clear, factual, and geared toward helping listeners understand the major financial trends affecting their money.

Key Discussion Points & Insights

1. Market Turbulence Stemming from Political Uncertainty

[00:42 – 01:33]

President Trump's Greenland Deal and Tariff Threats:
- Markets wobbled after aggressive negotiations by President Trump regarding Greenland, and new tariff threats aimed at European countries.
- Equities and the U.S. dollar both fell early in the week; bond yields rose.
Market Recovery Midweek:
- “Stocks rebounded on Wednesday and Thursday. The president said he had reached the framework of a Greenland deal with NATO and also walked back the threat of new trade restrictions.”
  — Hannah Aaron Lange, [01:09]

2. The "TACO Trade" Returns

[01:13 – 01:38]

"TACO" stands for "Trump Always Chickens Out":
- The pattern: threats of tariffs, markets panic, and then the administration backs down, prompting a rebound.
- “This dynamic has played out more than once since the start of last year.”
  — Hannah Aaron Lange, [01:18]
Despite the recovery, major indexes finished in the red:
- S&P 500: Down ~0.4%
- Dow: Down 0.5%
- Nasdaq: Nearly flat

3. Sector-Specific Stock Moves

[01:39 – 03:07]

Food & Consumer: McCormick

Shares fell 8% Thursday after announcing price hikes to offset tariffs and costs.
The company’s global sourcing led to higher expenses and disappointing profits, ending the week down 9.3%.
Insider context: “...higher expenses in the most recent quarter resulted in lower than expected profits.”
— Hannah Aaron Lange, [01:53]

Tech: Intel’s Struggles

Post-earnings, Intel dropped 17% on Friday alone after revealing ongoing losses and a weak forecast.
Despite past investor optimism fueled by AI and data center demand, Intel faces high production costs and depleted inventories.
“The company reported a net loss for the most recent quarter and it forecasted further losses ahead…”
— Hannah Aaron Lange, [02:12]
Overall, Intel shares were down 4% on the week.

4. Safe Havens Surge: The Gold Rally

[03:07 – 03:48]

Gold set a new record high Friday.
Gold miners like Newmont surged 8.9% and the top gold ETF gained nearly 9%.
Gold recently topped $4,000 an ounce, and is now nearing $5,000.
- “Buying gold has become a kind of go-to response for investors when things are feeling uncertain in the market.”
  — Hannah Aaron Lange, [03:32]
Investor anxiety over tariffs, the dollar, and interest rates continues fueling this “gold rush.”

Notable Quotes & Memorable Moments

On Market Recovery Patterns:
“It was another example of the so-called 'TACO trade' as it's come to be known on Wall Street. It's essentially an acronym for the phrase Trump Always Chickens Out.”
— Hannah Aaron Lange, [01:13]
On Gold’s Surge:
“Just a few months ago, gold prices topped $4,000 at troy ounce for the first time. Now we're approaching $5,000.”
— Hannah Aaron Lange, [03:26]
On Intel’s Ongoing Struggle:
“The company reported a net loss for the most recent quarter and it forecasted further losses ahead. Intel has been benefiting from the artificial intelligence hype recently...”
— Hannah Aaron Lange, [02:12]

Timestamps for Major Segments

00:42 – Episode begins, political market drama overview
01:13 – Introduction and explanation of the “TACO Trade”
01:39 – McCormick’s tariff struggles and stock drop
02:12 – Intel’s disappointing earnings and market reaction
03:07 – Gold’s safe haven surge and investor sentiment
03:48 – Closing remarks and further WSJ coverage mention

Closing

Host Hannah Aaron Lange wraps with a reminder to read further stock coverage on WSJ.com and a cheerful farewell:
“You know what's news in markets this week? ... Have a great weekend and we’ll see you next Saturday.”
— [03:53]

Summary prepared for listeners and readers seeking a fast, thorough breakdown of market-moving events and trends, with clear takeaways on political risks, sector shifts, and safe-haven strategies.

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Transcript4 lines

[00:00]
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[00:42]
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Hey listeners, it's Saturday, January 24th. I'm Hannah Aaron Lange for the Wall Street Journal and this is what's News and Markets. Our look at the biggest stock moves of the week and the news that drove them. So let's get into it. It was a turbulent week for markets. Stocks slumped on Tuesday after President Trump stepped up his efforts Greenland. The president also threatened new tariffs on several European countries if he didn't get his way. Equities in the dollar fell while bond yields rose, but stocks rebounded on Wednesday and Thursday. The president said he had reached the framework of a Greenland deal with NATO and also walked back the threat of new trade restrictions. It was another example of the so called taco trade as it's come to be known on Wall Street. It's essentially an acronym for the phrase Trump always chickens out. This dynamic has played out more than once since the start of last year. The president thr the threat of tariffs, investors get spooked, stocks sell off, and then ultimately those plans are backtracked and the market rebounds. Still, major indexes ended the week in the red. The S&P 500 fell roughly 0.4%, the dower treated half of a percent, and the NASDAQ composite dropped less than a tenth of a percent or basically flat. Not every corner of the stock market saw relief on the tariff front this week. Shares of McCormick tumbled 8% Thursday after the spice maker said it's going to raise prices to offset tariffs and other costs. The company sources thousands of ingredients from across the world for its seasonings and condiments, and higher expenses in the most recent quarter resulted in lower than expected profits. Shares of the company ended the week down 9.3%. Shares of the chipmaker intel slid roughly 17% on Friday after its latest earnings report made clear that the company's turnaround is still a work in progress. The company reported a net loss for the most recent quarter and it forecasted further losses ahead. Intel has been benefiting from the artificial intelligence hype recently, with investors hoping it could profit from the demand for data center servers that use its chips. That's boosted the stock price, but the company is still spending heavily to increase production and is grappling with the depleted inventory. That stock dropped 4% this past week. When in doubt, buy gold. That's been one way that traders have responded to all the geopolitical uncertainty in the news this week. Gold prices notched another record high on Friday. That's also boosting gold mining stocks like Newmont, which climbed 8.9% last week. Shares of the leading gold ETF were also up nearly 9%. Just a few months ago, gold prices topped $4,000 at troy ounce for the first time. Now we're approaching $5,000. One reason for the surge is that buying gold has become a kind of go to response for investors when things are feeling uncertain in the market. Kind of like what happened earlier this week. There's still some concern about tariffs about the dollar and interest rates. So the gold rush might not stop here and now. You know what's news in markets this week? You can read about more stocks that moved on the week's news in our live markets coverage on WSJ.com today's show was produced by Jess Fenton and Anthony Banci with supervising producer Melanie Royce. I'm Hannah Aaron Lange. Have a great weekend and we'll see you next Saturday.
[04:06]
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