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.