President Trump makes major infrastructure announcement on his second day in office.
President Donald Trumpinaugurated on Monday, did not fail to get to work. In just five days, he signed a series of decrees related to artificial intelligence; cryptocurrencies; and diversity, equity and inclusion, also known as DEI, and it promises a shakeup within the federal workforce.
In this edition of the FOX Business Rundown, we highlight Trump’s biggest business initiatives.
STOCKS NOTE WEEKLY GAINS: All three major U.S. averages posted weekly gains, even with a decline on Friday..…more on the markets here.
THE S&P 500 hits all-time high earlier in the week before moving back. The benchmark index nevertheless remains above 6,000.
TRUMP’S FIRST FIVE DAYS ARE BUSY
OVERLOADED AI: President Trump rolled out a $500 billion investment called Stargate intended to advance AI with Oracle, Softbank and OpenAI…continue reading here. This company should be a game-changer in the field of cancer detection, explained Larry Ellison of Oracle…continue reading here. However, the deal was not without controversy within the tech community…continue reading here.
VIDEO: OpenAI CFO Sarah Friar sets the record straight on Stargate.
DAVOS BofA DISS! Trump, speaking remotely before the World Economic Forum in Davos, Switzerland, denounced Bank of America CEO Brian Moynihan over his bank’s alleged discrimination against conservatives.…continue reading here. His surprise criticism revived the way in which some American banks allegedly “unbanked” certain groups because of their political or religious affiliations, a practice contested by the banks.…continue reading here.
DEI DOA: Trump hit the DEI with an executive order, authorizing government agencies to do the same…continue reading here. Target canceled its DEI campaign on Friday, following other retailers including Walmart and Lowe’s…continue reading here.
UPCOMING TAX REDUCTIONS: Trump also reiterated his promise of tax cuts, including a corporate tax rate as low as 15%.…continue reading here. The president also inherits a fiscal tsumani…continue reading here.
VIDEO: Former Trump economic adviser Larry Kudlow highlights the new administration.
WORLD CRYPTO CAPITAL: Trump, keeping his promise, has implemented big changes for the crypto community, which investors believe will help the industry thrive in the United States…continue reading here. Crypto czar David Sacks, in a FOX Business exclusive, said Trump would bring the industry back to America after former President Biden kicked it out…continue reading here.
VIDEO: Investor David Sacks talks about the possibilities for crypto under Trump.
Bitcoin has bounced between losses and gains this week but remains above the $100,000 level and is up more than 10% this year…Cryptocurrency prices LIVE here.
ENERGIZED: Energy groups have celebrated Trump’s campaign mantra, ‘Drill Baby Drill,’ as he promises big changes to come… continue reading here.
VIDEO: Trump sent a serious warning to OPEC countries.
NEW SHERIFF: Trump ends work from home for federal workers, promises other deep cuts…continue reading here.
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