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Here is your morning brief for Friday, January 30th. I'm Luke Vargas for the Wall Street Journal.

President Trump is expected to nominate Kevin Warsh to lead the Federal Reserve today,

ending months of deliberations that had seen a number of candidates effectively auditioning for the job.

Warsh is a former Fed governor who lost out on the top job to Jerome Powell back in 2017.

He's recently aligned himself more closely with Trump's views, calling last year for the Fed to cut

interest rates faster. Powell's term as current Fed chair ends in May. We're exclusively reporting

that OpenAI is targeting Q4 for its blockbuster IPO in

acceleration of the company's original listing plans, as rival Anthropic also eyes a potential

IPO by year's end. Anthropic expects to break even for the first time in 2028, according

to projections shared with investors last year,

two years earlier than OpenAI. Elon Musk is also pushing for a SpaceX IPO in what

some on Wall Street say could be the biggest year ever for public offerings. And Apple posted record

quarterly sales after yesterday's market close, with iPhone revenue jumping 23% from a year earlier to more than $85 billion.

That beat Wall Street expectations, but Apple shares were muted in off-hours training.

At the root of investor concern, seems to be future parts costs due to massive demand for chips from AI companies. According to

one supply chain analyst report, Apple may choose not to raise prices for next year's iPhone 18 lineup

and instead take a hit to its gross profit margins. Asian stocks have end of the day,

mostly lower. European stocks are up in midday trading, and U.S.

stock futures have dipped ahead of earnings from Amex, Verizon, Chevron, and ExxonMobil this morning.

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