President Trump announced former Fed Governor Kevin Warsh as the new Fed Chair. The stock market is off to a rocky start this Friday morning, with the Dow, S&P 500, Nasdaq, and Russell 2000 all down. Inflation reports show a jump in the Producer Price Index for December, with core PPI exceeding expectations.

Former Fed Governor Kevin Warsh is set to succeed Jerome Powell as Fed Chair. Warsh has a history of activism and dissent during his previous tenure on the Fed board. In earnings news, ExxonMobil and Chevron beat expectations for Q4 but are trading down, while Verizon and Colgate-Palmolive outperformed and are trading up.

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2. In other news, a new study has found that over 70% of Americans have received at least one dose of the COVID-19 vaccine. This is a positive development in the fight against the pandemic, as vaccination rates continue to rise across the country.

3. On the international front, tensions are escalating between Russia and Ukraine as Russian troops gather near the border. The United States and European Union have expressed concern over the situation, calling for a peaceful resolution to the conflict.

4. In technology news, Apple has announced the release of the iPhone 13, featuring a new A15 Bionic chip and improved camera capabilities. The latest model is expected to be a major hit among consumers, with pre-orders already surpassing expectations.

5. Lastly, in sports news, the Tokyo Olympics have come to a close with the United States finishing at the top of the medal table. American athletes won a total of 113 medals, including 39 gold, showcasing their dominance in a wide range of sports.

Read more at Nasdaq: PPI Higher, Warsh in as Fed Chair, Q4 Earnings Continue