Cabinet News Roundup

Several of President-elect Obama's likely picks for key posts in his administration have become clearer over the last few days and weeks:

After weeks of speculation, reports are that Obama will officially name Sen. Hillary Clinton as his choice for secretary of state after the Thanksgiving holiday. Current Defense Secretary Robert Gates is likely to be asked to stay on to provide stability during wartime, with Richard Danzig (secretary of the Navy under President Clinton) in place as undersecretary to replace Gates in a year or so. Retired Gen. James Jones emerges as the likely choice to be national security advisor, as Gov. Janet Napolitano is selected to oversee the Homeland Security department.

The Dow shot up nearly 500 points yesterday on news that Obama would appoint Timothy Geithne, chairman of the New York Federal Reserve Bank, as treasury secretary. Word is also that Gov. Bill Richardsonwill be tapped to be commerce secretary. Gov. Kathleen Sebelius is a possible pick for several roles. Former Senate majority leader Tom Daschle is Obama's choice to head up the Health and Human Services department.

And as we previously reported, Eric Holder will run the Justice Department as the new Attorney General.