Here are the most important news investors need to start their trading day:
1. Trump’s trade war trembles
A trader wears a hat to support Republican Donald Trump after he won the U.S. presidential election on the New York Stock Exchange on November 6, 2024.
Andrew Kelly | Reuters
Post-election rallies were suspended Wednesday. U.S. stocks were mixed on the day, with strong gains following President-elect Trump’s victory last week stalling. this Dow Chemical and S&P 500 Index Both rose only slightly, while Nasdaq Index ticking. The picture was mixed following the release of October’s inflation data. The consumer price index rose 2.6% compared with the same period last year, in line with expectations. The data showed strong price growth but increased market expectations that the Federal Reserve will cut interest rates next month. Trump’s threat to impose broad tariffs on imported products has stoked concerns that inflation could rise again next year. Follow real-time market updates.
2. The mouse was unharmed
walt disney On Thursday, its streaming business posted a profit for the second consecutive quarter, slightly beating profit expectations. Disney+, Hulu and ESPN+ combined fourth-quarter operating income of $321 million, compared with a loss of $387 million in the same period last year. Disney and its rivals have long struggled to make their streaming businesses profitable as viewers abandon pay-TV packages. Disney also benefited from box office hits like “Inside Out” and “Deadpool and Wolverine,” which became the highest-grossing animated and R-rated films of all time, respectively.
3. Three advances
On November 13, 2024, US President-elect Trump met with Republican members of the House of Representatives at the Capitol in Washington, DC. Next to him was US House Speaker Mike Johnson (R-LA).
Brian Snyder | Reuters
Republicans already have a firm grip on Washington for the next two years. the republican party is According to NBC News, Trump is expected to win a majority in the House of Representatives, taking control of both chambers of Congress and the White House starting in January. Republicans will have the power to pursue major parts of Trump’s agenda, from tax cuts to tariffs and a crackdown on immigration. The party will still face policy challenges. Republicans would hold a slim majority in the House and control up to 53 of the 100-seat Senate – leaving little room for defections as they try to pass complex legislation. Separately, Republicans selected Sen. John Thune as Senate majority leader, putting the South Dakota congressman in charge of confirming Trump’s nominations for key executive positions.
4. Matt’s secret is out
White House Chief of Staff-designate Susie Wiles and U.S. Rep. Matt Gaetz (R-FL) arrive at Joint Base Andrews in Maryland, U.S., November 13, 2024.
Brian Snyder | Reuters
Trump has begun announcing who will fill his administration and providing a blueprint for how to deal with issues ranging from environmental regulations to foreign policy. On Wednesday, he announced his choice of Florida Republican Sen. Marco Rubio. As his secretary of state, he was a staunch critic of China. In some cases, Trump has raised eyebrows when he appears to value personal loyalty over relevant experience, such as when he selected Fox News host Pete Hegseth to lead the Pentagon. But none generated as much buzz as his choice of another Florida Republican, Rep. Matt Gaetz, as attorney general. Gaetz, an outspoken critic of Biden’s Justice Department who supported Trump’s efforts to overturn the 2020 election, is facing an investigation by the House Ethics Committee into whether he engaged in sexual misconduct or illegal drug use. The investigation would end if Gaetz, who has denied wrongdoing, resigns from Congress. Gaetz may face a difficult road to Senate confirmation.
5. AMD layoffs
AMD Layoffs are taking place. The chipmaker said it would lay off about 1,000 employees, or 4% of its global workforce. AMD, the second-largest maker of graphics processing units (GPUs) after market darling Nvidia, is betting on artificial intelligence as a growth engine. But it hasn’t had the same success on the stock market as its larger rivals. AMD shares are down more than 5% this year, lagging the S&P 500’s gains of 25% and 195% NVIDIArespectively.
– CNBC’s Sarah Min, Lillian Rizzo, Ece Yildirim, Rebecca Picciotto, Kevin Breuninger, Holly Ellyatt and Kif Leswing contributed to this report.
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