TLDR

MARKET RECAP → The stock market surged to fresh record highs on Friday, with the Dow (DIA) and S&P 500 (VOO) capping off their best week in a year, fueled by Donald Trump’s election victory.

POWELL REFUSES TO RESIGN IF TRUMP REQUESTS→ Fed Chair Jerome Powell stated he won’t step down if asked by President-elect Trump, noting it’s beyond presidential power to fire him, despite Trump’s past criticisms.

TESLA JOINS $1 TRILLION CLUB AFTER TRUMP WIN→ Tesla (TSLA) hit a $1 trillion market cap after Trump’s victory, as investors anticipate favorable policies for U.S. tech and EV industries under the new administration. 🚀

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Powell Refuses To Resign If Trump Requests

📉 Stood Ground: Fed Chair Jerome Powell stated firmly he wouldn’t resign if President-elect Trump requested it, adding that the president legally can’t fire or demote him.

💼 Policy Stability: Powell reassured markets that Trump’s recent victory wouldn’t shift Fed policy in the short term, despite Trump’s known criticisms of Powell’s stance on interest rates.

❓️Future Effects Possible: Powell acknowledged that Trump’s tax cuts and tariffs, if implemented, could affect the Fed’s mandate for stable prices and employment but noted it’s too early to predict specifics.

TODAY’S TOP NEWS

Tesla Joins $1 Trillion Club After Trump Win

$1 Trillion With A “T”: Tesla’s (TSLA) stock surged over 5% Friday, topping the $1 trillion mark. The election outcome has fueled investor enthusiasm, as many believe a Trump administration could benefit Tesla, especially with Elon Musk as one of Trump’s most prominent supporters. Musk’s campaign contributions totaled over $130 million, signaling a close alliance.

Market-Friendly Policies on the Horizon: Analysts suggest a potential reduction in EV subsidies might favor Tesla by keeping cheaper foreign EV makers out of the U.S. market, giving Tesla a more dominant foothold. Policies on reduced regulatory burdens could also streamline Tesla’s operations and boost innovation in the U.S. tech sector.

Crypto's Potential Ripple Effect: A favorable outlook on U.S. tech and reduced regulatory pressures may increase investor interest in digital assets, making the cryptocurrency market worth watching as it historically thrives in deregulated environments.

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