What you need to know on Wall Street today

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

President Donald Trump has arrived in Davos, and despite embodying the antithesis of the conference's usual celebration of globalism, he's the most fawned-over Davos attendee since Angelina Jolie.

He's wasted little time making a splash. Trump on Friday took his "America First" speech to the crowd of global elites, where he proclaimed a newly reinvigorated US while taking veiled shots at China.

"Now is the perfect time to bring your business, your jobs, and your investments to the US," Trump said.

Here's what else Trump has been up to since arriving in the Alps:

• Trump says he is 'on the same wavelength' as Theresa May 'in every respect'
• Trump just doubled down on a big change to Israel policy and confirmed Jerusalem is 'off the table'
• Trump is trying to mend relations with a key African leader after 'shithole' comments
• Crowd at Davos boos after Trump attacks media as 'fake'

Trump is causing a stir, but so is that letter that BlackRock CEO Larry Fink sent to corporate execs earlier this month stressing the need for a clear long-term strategy and an understanding of the societal impact of their business. Everyone at the summit is talking about it, and the opinions fall into three camps: the "Larry's right" group, the "Yes, but ..." group, and the "Pissed off" group. Read more about the reaction to Fink's letter in Davos.

Here's what's happening in the markets:

• GDP rises by less than expected in the 4th quarter, missing Trump's target
• Wall Street's favorite recession indicator is flashing yellow - but that may be about to change
• Stocks are surging at the fastest pace in a decade as traders fly 'closer to the sun' - and that's a reason to be very nervous
• TOM LEE: Stocks have gone 'parabolic' and are sending a bullish signal for the rest of the year
• UBS: These 15 companies will benefit the most as Americans start paying less taxes next month
• 'The survival of our entire civilization is at stake': Billionaire George Soros issues a stark warning to the global elite at Davos

In crypto news:

• Silicon Valley VCs are reportedly lining up to invest in Telegram, the messaging app beloved by crypto traders and criticised by Theresa May
• $400 million of cryptocurrency disappeared on a Japanese exchange - and no one knows what happened
• Starbucks' Schultz: 'I don't believe that bitcoin is going to be a currency today or in the future'
• China's bitcoin crackdown has simply driven trade underground

Intel plans to release chips that have built-in Meltdown and Spectre protections later this year. Dell is reportedly considering IPO and other strategic options. Tesla Model 3s are showing up in stores nationwide as the company fires back at new reports of production issues. Drastic moves by MoviePass make one analyst believe it's 'skating on thin ice.'

Lastly, KFC just revealed Reba McEntire will be its first female Colonel Sanders.