Trump builds team with energy, government efficiency picks; bitcoin soars
Trump taps Liberty Energy CEO Chris Wright for energy secretary role
BlackRock’s Rick Rieder says Trump will inherit an economy with ‘momentum’
BlackRock Global Fixed Income CIO Rick Rieder evaluates President-elect Trump’s economic playbook and shares his market outlook on ‘Barron’s Roundtable.’
In this special edition of the FOX Business Rundown Newsletter, we look at the week's biggest stories coming out of the election.
- President-elect Trump builds team
- Energy, DOGE, Health lead the picks
- Treasury secretary in limbo
- JPMorgan CEO Jamie Dimon not a contender for a cabinet post
- Stocks take cues from the Federal Reserve vs. President-elect Trump
- Bitcoin lands in record territory
BUILDING TEAM TRUMP: President-elect Trump named his fracking-friendly energy secretary pick, Liberty Energy CEO Chris Wright Saturday…continue reading here. He joins Department of Health and Human Services pick Robert F. Kennedy Jr. and the co-heads of DOGE, the Department of Government Efficiency, Elon Musk and Vivek Ramaswamy, who are promising to trim trillions in government waste…continue reading here.
WASTE MANAGEMENT: U.S. investors have two regulators, the Securities and Exchange Commission (SEC) and the Consumer Financial Protection Bureau (CFPB). Does Wall Street need both? continue reading here.
VIDEO: Gary Cohn, former Goldman Sachs executive and former deputy director of the National Economic Council, weighs in on how DOGE could work.
WHITE HOUSE, POST ELECTION LATEST
LOCKED HORNS: FOX Business was first to report that two of the president-elect's close confidantes are vying for the top role in Treasury…continue reading here.
VIDEO: Trump donor Scott Bessent in lead for Treasury.
NO GO: JPMorgan CEO Jamie Dimon won't be part of team Trump, squashing rumors after Trump makes the announcement…continue reading here.
STOCKS SLIP: U.S. stocks fell on Friday, capping a losing week, as all three of the major averages pulled back from record highs fueled by Trump's White House win…more on the markets here.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
The selloff was less about the incoming administration and more about the latest from Federal Reserve Chair Jerome Powell…continue reading here.
VIDEO: Even with the pullback in equities, Trump is getting an economy with "momentum" says BlackRock's Rick Rieder.
THE ETF REPORT: FOXBUSINESS.COM
RECORD CLIMB: Bitcoin briefly touched $93,000, a new all-time high, before pulling back this week as investors ready for a pro-crypto president…continue reading here.
VIDEO: Why Bitcoin can keep climbing.
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