cover of episode California’s Gavin Newsom Wants to Lead the Trump Resistance

California’s Gavin Newsom Wants to Lead the Trump Resistance

2024/11/13
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WSJ What’s News

Key Insights

Why is California Governor Gavin Newsom positioning himself as a leader of the Trump resistance?

Newsom aims to defend liberal values and California's policies, which are often contrary to Trump's agenda on issues like immigration, environment, and crime.

How did Gavin Newsom's profile rise during the COVID-19 pandemic?

Newsom's handling of the pandemic in California drew national attention, elevating his status as a leader in the Democratic Party.

What challenges does John Thune face as the new GOP Senate majority leader?

Thune must advance a contentious Republican agenda, manage a narrow margin, and navigate difficult talks on issues like funding for Ukraine and maintaining a relationship with Trump.

Why are Volkswagen and Rivian partnering?

Volkswagen needs advanced EV technology, and Rivian requires financial support. The partnership aims to address each company's biggest weaknesses.

What risks do Volkswagen and Rivian face in their partnership?

Both companies are betting on an untested collaboration, and Rivian risks diluting its competitive advantage by sharing its electronic architecture with Volkswagen.

How did the U.S. inflation report impact market expectations for a Fed rate cut?

The report increased bets on another Fed rate cut, with the Dow and S&P 500 showing slight gains, while the Nasdaq slipped.

What factors contributed to Bitcoin reaching a new record high?

Investor euphoria over a pro-crypto president, Trump's promises to support the crypto industry, and a crypto-friendly Congress fueled Bitcoin's surge.

Chapters

The U.S. Labor Department reports a slight increase in consumer prices in October, but this may not be enough to stop the Federal Reserve from cutting interest rates in December.
  • Consumer prices rose 2.6% in October from a year earlier.
  • Core prices, excluding food and energy, were up 3.3%.
  • The inflation report might not derail another Fed rate cut in December.

Shownotes Transcript

P.M. Edition for Nov. 13. WSJ reporter Zusha Elinson) on how the Democratic California Gov. Gavin Newsom is positioning himself to face off) against the incoming administration of President-elect Donald Trump. And European autos reporter Stephen Wilmot) takes us inside the Volkswagen-Rivian) deal that could rescue both companies. Plus, inflation edges up slightly) in the U.S., but might not derail a possible interest-rate cut by the Fed in December. Tracie Hunte hosts.

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