The 'sell America' trade, Trump arrives in Davos, Netflix earnings and more in Morning Squawk

In the latest update from the financial world, U.S. investors are grappling with a significant market downturn. After experiencing their worst trading day in months, the S&P 500 futures are showing little change this morning following a steep decline yesterday that left major indexes in a negative position for the year. The plunge was triggered by President Donald Trump's announcement of potential new tariffs targeting European nations that oppose U.S. ownership of Greenland, a move that sent shockwaves through Wall Street. Today, all eyes are on Trump as he arrives at the World Economic Forum in Davos, Switzerland, marking his first visit to the summit since 2020. He is scheduled to deliver a keynote address at 8:30 a.m. ET and will later engage in an interview with CNBC's Joe Kernen, which can be viewed live on CNBC TV and CNBC+. As Trump prepares for his appearance, other key figures at the forum are also making headlines. Special Envoy Steve Witkoff has announced a meeting with Jared Kushner and Russian President Vladimir Putin tomorrow. Meanwhile, U.K. Chancellor Rachel Reeves emphasized the enduring alliance between the U.S. and the U.K., despite ongoing trade tensions. In corporate news, Netflix reported a slight earnings beat for the fourth quarter; however, the streaming service's shares dropped by 7% overnight as investors expressed disappointment over the results compared to internal projections. Co-CEO Greg Peters noted that the company's ambitious targets should be viewed as long-term goals rather than immediate forecasts, and he clarified that the figures did not account for potential mergers or acquisitions, particularly in light of Netflix's recent bid for Warner Bros. Discovery's assets. Additionally, United Airlines saw a 3% surge in its shares after revealing that it anticipates record earnings this year, exceeding earnings per share expectations while aligning with Wall Street's revenue estimates. In the realm of technology, ServiceNow has entered into a three-year agreement with OpenAI to integrate AI models into its enterprise platform, aiming to enhance customer experiences through innovative AI solutions. Although the financial details of the contract remain undisclosed, ServiceNow's operations chief, Amit Zavery, emphasized the deal's potential to deliver greater value and more intuitive interactions with AI. OpenAI also announced the rollout of a new prediction model for ChatGPT to identify accounts held by users under 18, reflecting the company's commitment to safety amid growing concerns regarding minors' access to its platform. At the recent JPMorgan Healthcare Conference in San Francisco, discussions revolved around the pharmaceutical industry's future, with executives strategizing for 2026 amidst a backdrop of significant revenue losses from patent expirations and new pricing agreements with the White House to circumvent tariffs. Meanwhile, natural gas experienced its highest daily gain in nearly four years, driven by increased heating demand as frigid weather sweeps across the U.S. The market dynamics surrounding this commodity are worth watching as the situation develops.