• ‘Not Very Good News’: Trump’s First Mention at APEC Is a Warning

Participants in the Asia-Pacific Economic Cooperation express gloom outlook for the region’s wealth if US trade turns to protectionism.

• Trump Says No Room for Jamie Dimon in New Administration

Trump says he is not inviting Dimon. Dimon says he’d rather not have a boss, and that a M&A boom is coming.

• Stocks Get Hit as Powell’s Remarks Curb Fed Wagers: Markets Wrap

Powell is in no rush to cut rates now. Dollar ticks up while equities lose steam. $TSLA -5.8% as Trump plans to erase EV tax credit. $DIS +6.2% after reporting good earnings.

• US Initial Jobless Claims Dropped to Lowest Since May Last Week

Weekly initial jobless claims decreased by 4k to 217k last week.

• Yen’s Malaise Deepens as Capital Outflows Eclipse Record Surplus

The yen’s softening paused in mid-July after reaching 161 yen per dollar. After a 2-month strengthening to 140 in mid-September, it has since weakened back to 156. The wide interest rate gap is seen as the culprit.

• Buffett’s Berkshire Buys Stakes in Domino’s Pizza, Pool Corp.

• Trump’s Ally Lummis Pushes to Sell Some of the Fed’s Gold to Buy Bitcoin

• Trump Selects RFK Jr. for Health Secretary; Vaccine Stocks Fall

RFK Jr. is a skeptical on vaccines and pharmas. The Department of Health and Human Services oversees 100+ programs for medicine, public health and social services.

• Applied Materials Forecast Spurs Concern About Chip Spending

The largest US chip-manufacturing equipment provider gives disappointing outlook.

• Gaetz Nomination Seen as Doomed by Some Senate Republicans

It is unclear if Gaetz nomination would get Senate approval as 4 votes of Republican opposition is all it needs in a 53-47 chamber.

• Powell Says Solid Economy Allows Fed to Consider Rate Cuts ‘Carefully’

“The economy is not sending any signals that we need to be in a hurry to lower rates, … The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”