Mag 7, crypto, Trump currency, AI, Trump, tariffs, Fed and everything that will dominate Davos

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Covering the World Economic Forum in Davos, Switzerland every year is something I see as a competitive sport.

I actually start training for the busy week during the summer, as my few close friends know (and yes, they all make fun of me). The number of workouts each week in the beginning is gradually increased so that I can easily run up and down the two-mile walk with a backpack to fill in as many meetings as humanly possible (yes, I do).

My only cheat meal a week is replaced with green drinks and extra doses of vitamins to make sure I don’t get sick. I meditate twice a day and carefully choose clothes that I know will help me perform at my highest level. It looks good, it feels good, good things happen.

For me, this event is the closest I’ll ever get to being like Michael Jordan in the playoffs, and I’m so lucky to be there.

And this year, the gathering of elites who fly in private jets to wax poetic about the world’s biggest problems will be crazier.

The conference unofficially begins on Trump’s inauguration day. Some CEOs I know who would normally be in Davos all week drop by mid-week after working the opening party rounds. On Tuesday, the newly minted president may have unleashed a series of executive orders that could affect the businesses of top CEOs on the ground. And of course it will affect the global markets.

That’s why this year’s WEF will be more important than the norm for you, the average investor. The headlines will be intense and intense as CEOs look to challenge Trump or side with him. They’ll also be looking to talk about their businesses ahead of the start of earnings season, and the markets are getting a little more choppy lately.

Here’s yours truly and ours Jennifer Schoenberger you’ll be watching as they’re bundled up in five layers all week. Be sure to check the “streaming now” on Yahoo Finance to see all our market-moving interviews in real time. Or tune in where you normally catch us, whether it’s on Samsung TV or our nifty app.

Unlike our previous trips to Davos over the past decade, I will be recording several special episodes of the Podcast of the opening offer on the ground I could tell you who those guests will be, but where’s the fun in that? Better to be surprised!

Now to this guide…

CEOs of big banks: The biggest names in banking, such as JPMorgan (JPM) CEO Jamie DimonBank of America (BAC) CEO Brian MoynihanGoldman Sachs (GS) CEO David SolomonCiti (c) CEO Jane Fraserand Morgan Stanley (MS) CEO Ted Pick they will attend While this group will be asked about Trump’s policies, their view on interest rates will be the most key to market sentiment. Most have not spoken publicly since the Fed signaled a likely halt in rate cuts last month, and will want to be heard before the Fed’s January 28-29 policy meeting.

The CEOs of rates: Retail will have a strong showing at Davos, with the CEOs of Polo Ralph Lauren (RL), Williams Sonoma (WSM), and Gap (GAP) (its CEO’s first time at the event) making the rounds. These companies are right in the middle of the tariff debate. I will be interested in how they are preparing for Trump’s tariffs from a supply chain perspective. I’m also interested in how much prices might rise after tariffs — it could provide valuable insight into the outlook for inflation in 2025 and Fed policy.

The race to catch Nvidia: It will be another year AI talks in the halls of Davos. This time, I think the discussions will take two forms. First, unlike last year, where AI discussions were mostly about potential, investors will want to see clear revenue and profit lines. So I encourage AI CEOs to bring it. And two, we’ll probably hear more about how the Big Tech players at Microsoft (MSFT) and the alphabet (GOOGLE) are aiming to develop their own high-powered AI chips to catch Nvidia (NVDA), or at least make chips good enough to diversify. Leaders from OpenAI and Anthropic will also be present, and their thoughts on the chips may be key. I’ll be watching Nvidia’s stock price like a hawk this week, and you should too.

Cryptographic delegation: The crypto industry has had a strong presence at Davos over the past five years. This year the industry is expected to come out in force, led by an appearance by Coinbase (COIN) CEO Brian Armstrong. I’ll be very attuned to what the crypto people think about the latest volatility in bitcoinMicroStrategy’s (MSTR) bitcoin buying bingewhat they’re hearing from the pro-crypto Trump administration, and early assessments of Paul Atkins as the likely next chairman of the SEC.

And, of course, Trump’s new coin that debuted to much fanfare (and market cap) on Friday.

The token quickly rose to a market cap of $73 billion in about 48 hours, surpassing DOGE as the largest meme coin to date.

Since its launch, the cryptocurrency’s market cap has dropped to $12 billion CoinMarketCap.

Stocks: The stocks are starting to look very heavy (especially the Magnificent 7s), as I reported. I look forward to hearing from market professionals such as JPMorgan Maria Erdoes and economic experts like Nouriel Roubini activated if they are seeing red flags on the horizon. Any calls they make at this Davos may carry more weight given more volatile market conditions and increased political uncertainty from Trump.

The political wildcards: As of this writing, contacts have told me that President-elect Donald Trump plans to send delegates to Davos. Whoever gets the nod is the wild card. (I think it will be potential Commerce Secretary Howard Lutnick, a regular on the Davos party scene for many years. Elon has hated Davos for so long, it’s very hard to see him show up.) Trump himself is scheduled to deliver a speech remotely on Thursday, a source told Yahoo Finance.

But who eventually emerges from Trump’s orbit, and what they say once they land, could set the tone for US international relations right out of the gate. If a delegate arrives at Davos days after Trump takes actions that could affect the economic growth of foreign countries and then seeks to explain the actions, you better believe the inevitable headlines might not be so market-friendly.

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Brian Sozzi is the executive editor of Yahoo Finance. Follow Sozzi on X @BrianSozzi, Instagram and forward LinkedIn. Story tips? Email [email protected]. Three times a week, Sozzi holds insightful conversations with the biggest names in business and markets on Yahoo Finance. Opening offer podcast Find more episodes on our video hub. Watch yours favorite streaming service. Or listen and subscribe Apple Podcasts, Spotifyor wherever you find your favorite podcasts.