| Howard Lutnick. Photographer: Christopher Goodney/Bloomberg Trump’s search for a Treasury secretary is in disarray as warring camps make final pushes for the coveted cabinet post. Elon Musk spoke with Key Square founder Scott Bessent after earlier voicing support for Cantor Fitzgerald CEO Howard Lutnick, who he argued is more of a disruptor. Trump has appeared frustrated and his staff are said to have been looking for alternatives, including Robert Lighthizer, Senator William Hagerty, Apollo boss Marc Rowan and former Federal Reserve governor Kevin Warsh. The president elect continues to fill top roles elsewhere. He chose Brendan Carr to chair the Federal Communications Commission, and tapped Chris Wright, who runs oil and natural gas fracking services firm Liberty Energy, to lead the Energy Department. Meanwhile, Trump’s team is said to be seeking ways to encourage the development of fully self-driving vehicles. And Vivek Ramaswamy, who’ll co-lead an efficiency drive initiative with Musk, warned federal contractors should expect “massive cuts” in what they can charge. Speaking of warnings, China’s President Xi Jinping used his final meeting with Joe Biden to send a message to Trump: China wants to be friends, but is ready for a fight if necessary. Xi reiterated the “four red lines” that the president-elect must avoid, including containing China’s economic rise and encouraging Taiwan’s independence. Ukraine latest. After almost 1,000 days resisting the Russian invasion, Ukraine’s allies are pushing Volodymyr Zelenskiy to consider new ways to end the fighting. The US decided to authorize long-range missile strikes on Russian territory, potentially escalating the conflict, as analysis showed North Korea may deploy as many as 100,000 troops to aid Vladimir Putin. In markets, some of the bullish trades put on in the days around the presidential election are being unwound due to the prospect of slower interest-rate cuts. Goldman Sachs is going for gold, predicting bullion will hit a record $3,000 an ounce by the end of next year. And in crypto, Bitcoin recovered from a two-day slide, climbing back to about $92,000. | 