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Here are five key things investors need to know to start the trading day:
Economists and investors have spent the last week wondering who would replace Adriana Kugler on the Federal Reserve’s Board of Governors after her abrupt resignation. On Thursday, they got their answer: President Donald Trump said he would nominate Stephen Miran, the chair of the Council of Economic Advisors. Miran will serve out the remainder of Kugler’s term, which ends Jan. 31, 2026, Trump said, while the president searches for a permanent replacement. Miran’s appointment to the rate-setting Federal Open Market Committee — which still needs Senate confirmation — would put a Trump loyalist on the board at a time when the White House is pressuring the central bank to lower interest rates.
Some of the biggest names in tech have showered the White House with special deals this week. OpenAI kicked things off Tuesday when it announced it would give the federal government access to the enterprise version of ChatGPT for just $1 through the next year. A day later, Apple
CEO Tim Cook presented Trump with an engraved gift as he announced that the company would expand its domestic investments. (But as CNBC’s Kif Leswing reports, Cook has so far avoided making the ultimate concession: a fully made-in-America iPhone.) Most recently, a government agency on Thursday said Amazon
