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:
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FED GOVERNOR RESISTS FIRING: President Trump announced on social media that he fired Federal Reserve governor Lisa Cook for cause over allegations of false statements on two mortgage agreements. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in response in a statement via Lowell & Associates, the law firm representing the Fed official. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022,” Cook is quoted by Axios as having added.
OFFSHORE WIND FARM: After Orsted (DNNGY) announced Friday that its subsidiary Revolution Wind, a 50/50 joint venture with Global Infrastructure Partner’s Skyborn Renewables, received an order instructing the project to stop activities on the outer continental shelf related to the wind project from the U.S. Department of the Interior’s Bureau of Ocean Energy Management, Bloomberg’s Ari Natter reports that the Trump administration is working to halt development of an offshore wind project planned near Maryland.
US Wind, which is owned by funds managed by Apollo Global Management (APO) and a subsidiary of Toto Holding SpA, told Bloomberg in a statement, “We remain confident that the federal permits we secured after a multi-year and rigorous public review process are legally sound.” Companies with exposure to wind energy include Eversource (ES), NextEra Energy (NEE), GE Vernova (GEV) and Brookfield Renewable Partners (BEP).
COVID VACCINES: Dr. Aseem Malhotra, a British cardiologist and adviser to the lobby group Make America Healthy Again Action, told the Daily Beast that the Trump administration and Robert F. Kennedy Jr. will move to pull the COVID vaccine off the U.S. market “within months,” reported Tom Latchem. Makers of COVID vaccines include BioNTech (BNTX), Pfizer (PFE), Moderna (MRNA) and Novavax (NVAX).
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