The current moment feels like the finale of a reality TV show, where the whole world knows who the winner of the competition is. This time, the winner won’t walk away with $1 million, but with an impact $112 trillion world economy.

U.S. President Donald Trump said on Thursday he would announce his presidential pick next fed chair Friday morning stateside. Former Federal Reserve governor Kevin Warsh is the most popular candidate so far, according to prediction market Kalshi, and an administration source told CNBC that Warsh was at the White House on Thursday.

At the same event where Trump made these comments – on the sidelines of the premiere of the Melania movie – he also warned the UK that it would be “Very dangerous” According to Reuters, the country does business with China. Previously, British Prime Minister Keir Starmer was visiting China, and the two sides reached agreements on issues such as tariffs, visa-free travel, and business investment. According to Downing Street.

The markets are busy dealing with more than just politics. After the close on Thursday, Apple reported A year-on-year increase of 16% Its fiscal first-quarter revenue saw “amazing” demand for iPhones, exceeding market expectations. It also forecast revenue for the current quarter to be above Wall Street forecasts.

However, investor reaction was tepid, with Apple shares rising about 0.5% in after-hours trading. This may be because Apple still appears behind the curve for artificial intelligence. Investors seem more interested in meta platformof Artificial Intelligence Prospectsdriving the stock price to rise by more than 10%. MicrosoftOn the other hand, it was punished for its spending plans and slowing cloud growth. Its share price fell 10%, $357 billion in losses Market capitalization suffered its worst day since March 2020.

The divergence weighed on tech stocks Nasdaq Composite Indexdown 0.72%. this S&P 500 Index fell 0.13%, while Dow Jones Industrial Average Bucking the trend, it rose 0.11%

On Friday, risk aversion spread. Precious metals and cryptocurrencies fell along with U.S. stocks: spot gold fell more than 4%, Bitcoin The slide continued overnight, hitting its lowest level in nearly two months.

—CNBC’s Samantha Subin and Garrett Downs contributed to this report.

Denmark praises negotiations with the United States on Greenland. Copenhagen’s foreign minister welcomed “very constructive” high-level talks on Thursday Greenland’s futuresaying that the conversation about the island was “Get back on track.”

Trump sued the IRS and the U.S. Treasury Department. Plaintiffs seek at least $10 billion in damages Reveal their confidential tax informationone litigation Show on Thursday. In addition to Trump, the plaintiffs include his sons, Donald Trump Jr. and Eric Trump, and the Trump Organization.

China’s new plan to stimulate consumption. China’s State Council on Thursday launched work plan Promote consumption of services – from cruises and yacht tours to more sporting events – as policymakers seek Increase the proportion of consumption economic development over the next five years.

Suppressed by Microsoft, most U.S. stock indexes fell. However, the Dow Jones Industrial Average Outperform and rise Thursday. Asia-Pacific stocks mostly fell on Friday. Hong Kong Hang Seng Index It fell nearly 2%, leading losses in the region.

(PRO) Russia and China control a critical metal. It’s crucial to developing military equipment, and a U.S. company is working to replace it. That has The company gets a “buy” rating After an investment bank initiates underwriting.

The world’s largest sovereign wealth fund will earn $247 billion in 2025, driven by a rebound in technology and banking sectors

On Thursday, Norway’s sovereign wealth fund reported annual profits of 2.36 trillion crowns, or $246.9 billion. In 2025, the fund returned 13.5 trillion crowns, the highest annual return since the fund was founded in the 1990s.

Norges Bank Investment Management (NBIM) manages the fund on behalf of the people of Norway. “Technology, financials and basic materials stocks outperformed and contributed significantly to overall returns,” NBIM Chief Executive Nicolai Tangen said in a statement on Thursday.

—Chloe Taylor