BizNews Daybreak Fri 30 Jan: New Fed Governor named; Gold swings; Meta + MSFT -; "TACO" Trade explained

In today's BizNews Daybreak:

Gold's Wild Ride: Gold prices experienced extreme volatility this week, surging past $5,600 before dropping back to $5,200. The Rand strengthened to R15.83 against the Dollar.

Tech Giants Diverge:
Meta: Surged 10% after strong results, defying market expectations.
Microsoft: Plunged 10% in a single day, a massive move for the tech giant.

Apple: Reported record holiday sales driven by the iPhone 17 and a rebound in China, with revenue jumping 16%.

Crypto Slump: Bitcoin struggled, dropping 6% to trade around $83,500.

New Fed Chair: President Trump is expected to nominate Kevin Warsh as the next Federal Reserve Chair, replacing Jay Powell.

The "Taco" Trade: Financial Times columnist Rob Armstrong explains the "Taco" acronym ("Trump Always Chickens Out"), suggesting markets now bet that Trump will retreat from extreme policy threats (like 25% tariffs) once markets react negatively.

Local Movers: JSE miners like South32, Glencore, and BHP tracked commodity prices higher, while BizNews portfolio members Afrimat (+6%) and Sabvest (+5%) enjoyed significant gains.

AI and Jobs: Contrary to fears of mass unemployment, experts argue AI may increase the need for human workers to manage growing system complexity.

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