Jamie Dimon signals support for Kevin Warsh in Fed chair race

President Trump indicated he is leaning towards nominating either former Federal Reserve governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Federal Reserve next year, emphasizing the importance of consultation on interest rates. This statement was made during an interview with The Wall Street Journal.

JPMorgan CEO Jamie Dimon has commented on potential candidates for the Federal Reserve chair position, highlighting the significance of this role in shaping U.S. monetary policy. His insights come amid a competitive selection process, with various candidates being considered by the administration.

The US Supreme Court is set to rule on the legality of tariffs imposed by President Donald Trump in April, which previously caused significant market fluctuations. This ruling could have substantial implications for various stocks that have experienced growth since the tariffs were enacted.

JPMorgan has upgraded its rating for Citi, indicating that the bank's profitability gains are expected to surpass those of its peers. This upgrade reflects a positive outlook for Citi's financial performance in the competitive banking sector.

Oracle's shares fell 15% following the release of disappointing quarterly financial results, leading to a loss of approximately $80 billion in market value, dropping from $630 billion to $550 billion. This decline has raised concerns about a potential bubble in artificial intelligence-related stocks, particularly affecting companies like Nvidia, which is viewed as a key indicator of the AI sector's health.

American Airlines has canceled a popular route, offering refunds to affected customers, amid a decline in Canadian travel to the U.S. This trend follows a year of reduced cross-border trips, influenced by political rhetoric and economic factors.

Paramount Skydance has launched a $108.4 billion hostile bid for Warner Bros Discovery, intensifying the competition in the media landscape, particularly against Netflix, which previously proposed an acquisition valued at approximately $72 billion. Jared Kushner's involvement in financing this bid highlights the intersection of business and politics, especially given his ties to the Trump administration.

The US Federal Reserve has reduced its benchmark interest rate by 25 basis points, responding to persistent inflation and slowing job growth amid a lack of government data due to a shutdown. This marks a significant monetary policy shift as the Fed navigates economic uncertainties.