Trump Fed Chair Nominee, Government Shutdown Averted, Apple Earnings, and SpaceX Merger Talks

Federal Reserve Chair Nomination

• 💡 Kevin Warsh is reportedly the Trump administration's choice for the next Federal Reserve chair, with an announcement expected soon.
• ⚠️ Warsh, a former Fed governor, is seen as less supportive of deep interest rate cuts and has warned of inflation risks.
• 📌 A key Republican senator, Tom Tillis, has vowed to block any Fed nominees until an investigation into the central bank's headquarters renovation is resolved.

Government Shutdown Averted

• 🤝 President Trump and Senate Democrats have reached a tentative deal to avert a government shutdown, focusing on immigration raid limits.
• ⏳ House Speaker Mike Johnson indicated there might not be enough time to pass the measure before the Friday night deadline.
• 🏛️ Republican Senator Lindsey Graham has placed a hold on the bill, which would fund the Department of Homeland Security for two weeks.

Tech Earnings and Market Reactions

• 🍎 Apple reported record quarterly sales, including strong performance in China, but shares showed little change due to concerns about rising component costs squeezing margins.
• 📉 Microsoft shares plunged significantly after reporting record spending on artificial intelligence, coupled with a slowdown in key cloud unit growth.
• 🚀 Elon Musk's SpaceX is reportedly considering a potential merger with Tesla or his AI firm XAI ahead of a targeted June IPO.

Other News and Market Insights

• ❄️ A frigid weekend is expected with a possibility of a winter storm affecting the East Coast, with heavy snow anticipated for the Carolinas and Cape Cod.
• ⚖️ New York City Mayor Eric Adams expressed concerns about a fiscal deficit and the need to change the city's relationship with wealthy residents and corporations.
• ⚖️ A Minnesota man is charged with impersonating an FBI agent, and officials in Fulton County, Georgia, are contesting an FBI raid of 2020 election materials.
• 🏀 In sports, Carlos Alcaraz won a men's semifinal match at the Australian Open, and Patrick Kane passed Mike Modano for the most points in NHL history by a US-born player.