What Does Trump’s Pick of Howard Lutnick as Commerce Secretary Mean for the Economy? [Video]

Walmart reported better third-quarter results than analysts expected Tuesday morning as it registered growing sales and profits, lifting its stock to an all-time high after markets opened.

Stellantis is recalling about 207,000 Jeep and Dodge SUVs in the U.S. to fix a computer problem that can disable the anti-lock brakes and electronic stability control safety features.Video above: This app will help you stay on top of food recallsThe recall covers certain 2018 and 2019 Jeep Grand Cherokee and Dodge Durango SUVs.Stellantis says in government recall documents posted on Wednesday that the SUVs may have a brake control computer that falsely reads brake pressure. The computer can disable the safety features, illuminate the brake lights and let a driver shift out of park without putting a foot on the brake pedal. That can cause unintended movement.The documents say the company is still developing a repair. Owners will be notified by letter starting Thursday. People with questions can call Stellantis customer service at (800) 853-1403.The same models were recalled in 2022 for a similar problem that did not address the brake light or antilock brake and electronic stability control issues.The National Highway Traffic Safety Administration says in the documents that vehicles repaired in the 2022 recall will have to be fixed again.Stellantis documents say the company had 533 warranty claims related to the problem as of Oct. 14, but it's not aware of any crashes or injuries.

President-elect Donald Trump on Tuesday said Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new Department of Government Efficiency" which is not, despite the name, a government agency.The acronym DOGE is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House advice and guidance and will partner with the Office of Management and Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before. He added that the move would shock government systems.It's not clear how the organization will operate. It could come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.Federal employees are generally required to disclose their assets and entanglements to ward off any potential conflicts of interest, and to divest significant holdings relating to their work. Because Musk and Ramaswamy would not be formal federal workers, they would not face those requirements or ethical limitations.Musk posted on X: Department of Government Efficiency. The merch will be (fire emojis). Later he added: Threat to democracy? Nope, threat to BUREAUCRACY!!!Musk has been a constant presence at Mar-a-Lago since Trump won the presidential election.The president-elect has often said he would give Musk a formal role overseeing a group akin to a blue-ribbon commission that would recommend ways to slash spending and make the federal government more efficient. Musk at one point suggested he could find more than $2 trillion in savings nearly a third of total annual government spending.Trump had made clear that Musk would likely not hold any kind of full-time position, given his other commitments.I dont think I can get him full-time because hes a little bit busy sending rockets up and all the things he does, Trump said at a rally in Michigan in September. He said the waste in this country is crazy. And were going to get Elon Musk to be our cost cutter.Ramaswamy suspended his campaign in January and threw his support behind Trump.Trump said in his statement the two will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."

Officials at the Federal Reserve have been noncommittal publicly about what a Trump presidency means for the economy. Behind the scenes, they may already be discussing what the second Trump era will look like.