B↑2📆 - 11/15/24
Interesting picks for head of Departments by Donald Trump: a Fox News host, a congressman under ethics probe, a Kennedy who got criticized by his family for endorsing Trump’s campaign, Musk …
• ‘Not Very Good News’: Trump’s First Mention at APEC Is a Warning
Participants in the Asia-Pacific Economic Cooperation express gloom outlook for the region’s wealth if US trade turns to protectionism.
• Trump Says No Room for Jamie Dimon in New Administration
Trump says he is not inviting Dimon. Dimon says he’d rather not have a boss, and that a M&A boom is coming.
• Stocks Get Hit as Powell’s Remarks Curb Fed Wagers: Markets Wrap
Powell is in no rush to cut rates now. Dollar ticks up while equities lose steam. $TSLA -5.8% as Trump plans to erase EV tax credit. $DIS +6.2% after reporting good earnings.
• US Initial Jobless Claims Dropped to Lowest Since May Last Week
Weekly initial jobless claims decreased by 4k to 217k last week.
• Yen’s Malaise Deepens as Capital Outflows Eclipse Record Surplus
The yen’s softening paused in mid-July after reaching 161 yen per dollar. After a 2-month strengthening to 140 in mid-September, it has since weakened back to 156. The wide interest rate gap is seen as the culprit.
• Buffett’s Berkshire Buys Stakes in Domino’s Pizza, Pool Corp.
• Trump’s Ally Lummis Pushes to Sell Some of the Fed’s Gold to Buy Bitcoin
• Trump Selects RFK Jr. for Health Secretary; Vaccine Stocks Fall
RFK Jr. is a skeptical on vaccines and pharmas. The Department of Health and Human Services oversees 100+ programs for medicine, public health and social services.
• Applied Materials Forecast Spurs Concern About Chip Spending
The largest US chip-manufacturing equipment provider gives disappointing outlook.
• Gaetz Nomination Seen as Doomed by Some Senate Republicans
It is unclear if Gaetz nomination would get Senate approval as 4 votes of Republican opposition is all it needs in a 53-47 chamber.
• Powell Says Solid Economy Allows Fed to Consider Rate Cuts ‘Carefully’
“The economy is not sending any signals that we need to be in a hurry to lower rates, … The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”