What’s News in Markets: Wegovy Pill, Salesforce AI Woes, BlackRock Record

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Jack Pitcher· Host0:14

Hey, listeners, Your Money Briefing is on a break, but it will be back with more personal finance information for you in the future. Until then, here's the news moving markets this week. [upbeat music] Hey, listeners, it's Saturday, January 17th. I'm Jack Pitcher for The Wall Street Journal, and this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them. Let's get to it. Calm in the face of chaos, that was the theme for markets this week. On Sunday night, news broke that Federal Reserve Chair Jerome Powell is being investigated by US prosecutors over his testimony about the central bank's building renovation project. In a video statement, Powell, who is usually quite restrained, called the investigation a pretext as part of President Trump's campaign to pressure the Fed to lower interest rates and end the independence of the central bank. Investors, concerned that a lack of Fed independence could lead to runaway inflation, have been closely watching the Powell situation. Meanwhile, banks kicked off earnings season with a mixed bag of results. JP Morgan disappointed investors with lower-than-expected investment banking revenue, but Goldman Sachs and Morgan