Looking to buy a baitcasting setup. I'm thinking daiwa fuego Ct or shimano caenan. I also need to buy a rod, looking to spend around $50 on a rod. Should I go with the fuego or the caenan? Any thoughts for a rod?

Go with the Daiwa Fuego. The Caenan seems cheap feeling to me. Meanwhile the Fuego has an aluminum frame. (The Fuego is basically a Tatula CT without t-wing)

As for a rod, an Abu Garcia Veritas is a nice rod. Can be found relatively cheap when on sale. If you can't get  that, I'd check Craigslist for a used rod.

The Fuego is a new reel Daiwa brought out. It uses much of the Tatula CT parts, but has the same bearing count as the older Exceler reels. In fact that is why they replaced the Exceler, as there are more versions of the Tatula and Tatula CTs they wanted to discontinue carrying a reel that shared no parts like the Exceler.  At least that is how it looks. The Exceler had the old fixed drum Magforce brake system instead of the much better MagForce Z.  SO it should be a nice upgrade. I fish an Exceler and a bunch of Tatula Type Rs and Tatula CTs. You will enjoy fishing that reel.

 

I would definitely get a Fuego and for a rod look at a Berkley Lightning Shock Rod, they run $50. I fish several 6'6 medium rods for bass and stripers. They have both landed some big blue cats and held up fine. Another option is to go to Dicks Sporting Goods. Look at a Quantum Escalade 7 foot MH rod. They usually run $100 but have been on sale for $49. It is no $300 rod but it fishes very well.   It is a IM8 rod. I use mine to fish texas rigs, carolina rigs and jigs.

The fuego is probably the better reel even tho the caenan felt fine in my hands. The powell diesel rods can be found for around $50. Been impressed with mine for the price

Fuego CT. It's a Tatula CT w/o the T-Wing guide. I have the Tatula CT and quite happy with the reel. I'm thinking of adding the Fuego CT this summer.

Fuego, no doubt.