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Why Wall Street is unhappy with Trump's pick for Fed chair AxiosKevin Warsh Has a Tough Job Ahead. It's Not the First Time. The New York TimesKevin Warsh's Three Tasks: Shrink the Fed, Tame Inflation, Manage the President. The Wall Street JournalHow a Famed Economist Views Kevin Warsh for Fed Chair PoliticoWhy Gold and Silver Crashed After Trump Named Fed
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The West's water war arrives in Washington PoliticoFate of Colorado River hangs in balance as political battle brews The Washington PostWhat's at stake as Utah, 6 other states seek new Colorado River deal KSL.comGovernors Dive Into an Impasse Over Colorado River Water Use The New York TimesWill federal intervention save the Colorado River from federal control? Deseret News
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Sell America Is the New Trade on Wall Street The New York TimesDollar Slide a Sign of Global Investor Hedging, Federated Says Bloomberg.com‘Sell America': is US market supremacy under threat? The EconomistThe 'depreciation trade' is making a comeback, are U.S. assets facing a 'quiet exit'? ????Is the world losing faith in the US economy? ThePost.co.nz
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Search Suspended for 6 Missing in Boat Off the Coast of Massachusetts The New York TimesCoast Guard searching for survivors after commercial fishing boat sinks off Massachusetts; 1 body recovered Fox NewsUS Coast Guard calls off search for Gloucester fishing vessel with 7 aboard The Boston Globe
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Sen. Thom Tillis on Friday reiterated his intent to hold up President Trump's pick for Fed chair until the Justice Department ends its criminal probe of Jerome Powell.
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Stock Market News, Jan. 30, 2026: Silver Plunges, Nasdaq Falls Following Trump Fed Pick The Wall Street JournalWhy Wall Street is unhappy with Trump's pick for Fed chair Axios3 things to know about Kevin Warsh, Trump's pick for Fed chair PBSHow a Famed Economist Views Kevin Warsh for Fed Chair Politico
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The federal tax collector seems poised to run out of funding on Saturday, just days after it started processing 2025 income-tax returns.
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President announces former Fed governor as his nominee to succeed Jay Powell
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Trump taps career staffer to lead statistics agency whose chief he fired The Washington PostTrump Picks Veteran Staffer to Head Bureau of Labor Statistics The Wall Street JournalTrump nominates Brett Matsumoto for BLS commissioner The HillDonald Trump nominates economist Brett Matsumoto to head statistics agency Financial TimesTrump Names ‘Data Nerd' to Lead Labor Statistics
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It was a choppy start to the short trading week, with stocks spending time in both positive and negative territory Tuesday. Bears gained the upper hand in the afternoon, though, with the three major indexes ending another day in the red.
SEE MORE The ESG Investing Backlash
Although this week's economic calendar is fairly thin, data from the Institute for Supply Management (ISM) this morning showed that activity in the services sector ticked up to 56.9% in August - the highest level since April - from July's 56.7%.
"This is the most recent piece of data to suggest the economy remains resilient and as such the market takeaway is that this gives the Fed more room to continue raising rates," says Michael Reinking, senior market strategist for the New York Stock Exchange. "Futures markets are now pricing in a 75% chance of a 75 basis-point hike later this month from a coin flip late last week." A basis point is one-one hundredth of a percentage point.
In reaction to today's ISM data, the 10-year Treasury yield rose to its loftiest level since mid-June. This, in turn, weighed on shares in the communication services (-1.3%) and technology (-0.6%) sectors, with names such as streaming giant Netflix (NFLX, -3.4%) and chipmaker Intel (INTC, -2.8%) seeing notable declines.
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As for the major indexes, the tech-heavy Nasdaq Composite fell 0.7% to 11,544, its seventh straight loss.
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