President-elect Trump will take office on Monday, and Wall Street and Corporate America are bracing for a big shift from the past four years. Trump has promised to push his pro-growth policies with tax cuts and big moves that will impact industries such as energy and crypto and what he considers a bloated federal workforce. He will also inherit a bloated national debt.
In this special edition of the FOX Business Rundown Newsletter, we take a look at what to watch in the coming months.
WALL STREET CELEBRATES: Stocks ended the week on a high note ahead of Trump taking office. The Dow and the S&P 500 had the best week since his election win…more on the markets here. In the world of crypto, bitcoin is now trading at over $100,000…LIVE cryptocurrency prices here.
Lowering inflation will also be on the president’s plate. Here’s the latest on where consumer prices stand…continue reading here.
VIDEO: Robinhood trading app’s crypto head gives outlook on Trump’s impact on the sector.
NATIONAL DEBT BOMB: Trillions in national debt is an achilles heel for the U.S….continue reading here.
DOGE: The Department of Government Efficiency, run by Elon Musk, is already targeting fat to be cut in efforts to save what he estimates could be $2 trillion in government waste…continue reading here.
DEEP POCKETS: Fortune 500 giants, including Meta, Amazon, Ford and Boeing, to name a few, opened their coffers for Trump’s inauguration, donating a staggering sum…continue reading here.
ONE-ON-ONES: Many CEOs made a trip to Mar-a-Lago to break bread with Trump after his November win…continue reading here.
WALMART CEO: As FOX Business exclusively reported, Walmart, the world’s largest retailer, had a productive meeting…continue reading here.
VIDEO: Walmart’s CFO gives an update on business, especially food.
WOKE NO MORE: Trump trashed wokeism on the campaign trail. In recent weeks, a slew of companies started rolling back their DEI policies …continue reading here. In Meta’s case, CEO Mark Zuckerberg, blamed his former right hand for the left-leaning push…continue reading here.
TRUMP’S INCOMING TERM
TREASURY CHIEF: Scott Bessent, Trump’s Treasury pick, earned high marks for his confirmation hearing, shutting down Bernie Sanders…continue reading here. He also promised to run the IRS by treating all taxpayers equally…continue reading here.
VIDEO: Bessent is also promising to make Trump’s 2017 tax cuts permanent.
TAX TIPS: WHAT TO KNOW
“DRILL, BABY, DRILL”: Biden pushed a drilling ban during his final days in office. The move angered Trump, who says he’ll reverse it on Day 1…continue reading here. Elsewhere, Trump’s picks to run the Department of Energy are ready to hit the ground running…continue reading here.
VIDEO: Trump explains how he’ll make America energy independent…again.
TIKTOK AND CHINA: TikTok’s ban in the U.S. is set to begin Sunday, hours ahead of Monday’s inauguration. One celebrity investor says he has $20 billion ready to go for the social media app…continue reading here.
HAVE A COKE AND A SMILE: It’s no secret Trump loves a Diet Coke and that’s why the soda maker gave him a special gift…continue reading here.
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