Trump Trade: Trump says Warner Bros. sale should include CNN

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.

WARNER BROS. SALE: President Trump, while speaking to reporters from the White House, commented on the potential sale of Warner Bros. Discovery (WBD), saying that “I think any deal should – it should be guaranteed and certain that CNN is part of it or sold separately. I don’t think the people that are running that company right now and running CNN, which is a very dishonest group of people, I don’t think that should be allowed to continue. I think CNN should be sold along with everything else…I will be probably involved, maybe involved in the decision. It depends. You have some good companies bidding on it.” Netflix’s (NFLX) offer to acquire Warner Bros. has CNN being put into a separate company. Paramount Skydance’s bid, which it took directly to shareholders, includes buying all of Warner Bros. Discovery.

CONTRACT: Gemini (GEMI) announced that Gemini Titan, an affiliate, received a designated contract market license from the Commodity Futures Trading Commission, which will allow Gemini to begin offering prediction markets to U.S. customers. Gemini first applied for a DCM license on March 10, 2020. “Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini,” remarked Gemini’s CEO Tyler Winklevoss. “We thank President Trump for ending the Biden Administration’s War on Crypto and Acting Chairman Pham for her hard work and dedication to help realize President Trump’s vision for making America the crypto capital of the world. It’s incredibly refreshing and invigorating to have a President and a financial regulator who are pro crypto, pro innovation, and pro America.” Gemini Titan plans to enter into the prediction markets space by offering event contracts that are simple yes or no questions on future events.

RATE CUTS IN 2026: Goldman Sachs (GS) Chief U.S. Economist David Mericle writes that the most significant new piece of information from today’s FOMC decision and Fed Chair Powell comments is that the Fed believes payroll growth is currently being overstated by 60K jobs per month, more than the firm’s own estimate of 30-35K, implying that the 40K reported rate of payroll growth in May-September is actually closer to negative 20K. “A world where job creation is negative” is a situation the FOMC needs to watch “very carefully”, Powell stated, and the Fed Chair’s other dovish labor market comments – along with continued confidence in progress being made on inflation – produced a more dovish market reaction, Goldman noted. The firm maintains its view that the FOMC will deliver two normalization cuts in March and June 2026 to a terminal rate of 3.00%-3.25%.