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<ul class="summary-list"><li>Nuclear-power stocks fell after regulators voted against a deal between Amazon and Talen Energy.</li><li>The deal would permit a Talen nuclear plant to provide an Amazon data center with extra power.</li></ul>Nuclear-power stocks slumped on Monday after US regulators barred a plant from supplying extra power to an <a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> data center.The Federal Energy Regulatory Commission rejected the deal between Amazon and <a target="_blank" href="https://markets.businessinsider.com/stocks/tln-stock">Talen Energy</a> late last week. According to FERC Commissioner Mark Christie, approving the proposal would <a target="_blank" href="https://www.ferc.gov/news-events/news/commissioner-christies-concurrence-pjms-susquehanna-co-location-proposal-er24-2172">spark consequences for grid reliability and consumer costs</a>.Talen dropped as much as 8.6% on Monday, unleashing a broader downturn in the nuclear power sector. <a target="_blank" href="https://markets.businessinsider.com/stocks/vst-stock">Vistra</a> slid 6.7% at intraday lows, while <a target="_blank" href="https://markets.businessinsider.com/stocks/ceg-stock">Constellation Energy</a> tanked 13%.These firms have gained sharply as AI data centers have driven US <a target="_blank" href="https://markets.businessinsider.com/news/commodities/ai-power-grid-demand-utility-bill-outlook-electricity-ev-2024-7">power demand to new heights</a>. In recent months, tech companies have come to embrace nuclear power to run these centers, fueling underlying equities.Both Vistra and Constellation are among the top S&amp;P 500 performers this year. In a similar fashion to Talen, Constellation reached a 20-year deal with <a target="_blank" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> to power its data center inBut the FERC's decision sets a precedent that could challenge nuclear data center deals."FERC's decision will have a chilling effect on economic development in states such as Pennsylvania, Ohio, and New Jersey," Talen <a target="_blank" href="https://ir.talenenergy.com/news-releases/news-release-details/talen-energy-statement-ferc-order-rejecting-susquehanna-isa">said in a statement</a>.According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-04/us-power-stocks-slump-after-regulator-rejects-nuclear-agreement">Bloomberg</a>, the firm was already paid $650 million in March by Amazon Web Services for a data center campus next to the Pennsylvania plant at issue. AWS also signed a long-term deal to purchase power from the plant.Other nuclear equities also suffered on Monday, with the Sam Altman-backed firm <a target="_blank" href="https://markets.businessinsider.com/stocks/oklo-stock">Oklo</a> and <a target="_blank" href="https://markets.businessinsider.com/stocks/nne-stock">Nano Nuclear Energy</a> both falling by double-digits.

Nuclear-power stocks slide after regulator rejects plan to power Amazon data center

The United States government isn’t holding back when it comes to Big Tech, and <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> is squarely in its sights. After years of concern over the tech giant’s grip on the digital world, the US Justice Department (DOJ) has made a bold demand: sell your Chrome browser. The move comes amid two high-stakes antitrust trials that accuse Google of monopolistic practices. So, what’s at the heart of the government’s case, and why is Chrome a key piece of the puzzle? Let’s break it down. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Search, Chrome, and monopoly madness</h3>In one corner, we have the DOJ versus Google in a trial in Washington, D.C., where a judge has already ruled that Google’s search business operates as an illegal monopoly. The DOJ argues that Google’s dominance in search, bolstered by its Chrome browser, gives the company an unfair advantage, effectively locking in users and advertisers. To remedy this, the DOJ has proposed that Google sell off Chrome entirely. This drastic move, they argue, could level the playing field and restore competition to a market where Google currently reigns supreme. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">The ad tech tug-of-war</h3>Meanwhile, in Virginia, a second trial focuses on Google’s grip on the ad tech market — the engine behind the ads you see while browsing. The government alleges that Google’s trio of advertising software products effectively monopolises the ad tech ecosystem. Publishers like News Corp and Gannett claim they’re stuck using Google’s ad tools to survive. DOJ lawyer Aaron Teitelbaum summed it up bluntly: “Google is once, twice, three times a monopolist.” The DOJ accuses Google of using its financial clout to buy out rivals and control the auction systems that determine which ads appear online. This, they say, allows Google to charge advertisers more while paying publishers less. The government wants Google to divest parts of its ad tech business to dismantle this stranglehold. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Google fights back</h3>Unsurprisingly, Google has a different story. The tech giant calls the government’s arguments an attempt to pick “winners and losers” in an already competitive market. “The law simply does not support what the plaintiffs are arguing in this case,” said Google’s lawyer Karen Dunn. Google also argues that the ad tech market isn’t as straightforward as the DOJ claims. The company points out that ads appear across multiple platforms — search engines, social media, and apps — and Google doesn’t dominate all of them. In fact, it says rivals like Meta, Amazon, and TikTok are gaining ground. Dunn warned that forcing Google to sell parts of its business or work with competitors would essentially amount to government interference. “This is central planning,” she said, urging the court to reject the DOJ’s proposals. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">What’s at stake?</h3>If the court rules against Google, the implications could be seismic. The DOJ’s proposals — selling Chrome or divesting parts of Google’s ad business — would fundamentally reshape how the company operates. But don’t expect a resolution anytime soon. Presiding Judge Leonie Brinkema is expected to issue her opinion swiftly, but any decision will almost certainly be appealed, dragging the case potentially to the US Supreme Court. Even then, the question of enforcement remains murky. While the Biden administration is eager to rein in Big Tech, future administrations could change course. Whether Google will ultimately be forced to sell Chrome or parts of its ad tech business is up to the courts — and potentially years of appeals. For now, the trials highlight a growing unease with the power of tech giants like Google. For Google, the stakes couldn’t be higher. For the rest of us, these decisions will shape the future of the internet as we know it. Stay tuned — this battle is far from over.

Why does the US want Google to sell its Chrome browser?

Ever since Donald Trump won the 2024 US presidential elections, bitcoin has been surging, going up over 40% in the last two weeks. Recently, the cryptocurrency soared past $97,000, having risen 8.32% in just the last 7 days, and is currently trading at $96,906.09. The overall crypto market is also buoyant, with the crypto volume jumping 10.06% over the past 24 hours to touch $198.83 billion. The markets are enthused about Bitcoin's prospects going ahead, given that Trump has hinted towards establishing a dedicated role in the White House for deliberating crypto policies. Trump has been vocally pro-crypto and had promised, during his presidential campaign, to scale back <keyword id="24085738" type="General" weightage="20" keywordseo="crypto-regulations" source="keywords">crypto regulations</keyword> and fire SEC chair Gary Gensler, who had initiated a crackdown on digital assets in the US. The crypto lobby in the US has been advocating for crypto-friendly SECs and access to banks. In a bid to do so, crypto companies have pumped in over $119 million to support pro-crypto candidates. Says Edul Patel, co-founder and CEO of Mudrex, "Market sentiment grew stronger from Bloomberg's report of Trump’s plan to establish a dedicated White House role for crypto policy. The anticipation of faster regulatory clarity coupled with BlackRock’s Bitcoin ETF options projecting a $176k price target by 2026 has driven BTC’s price to the $95K milestone and beyond." The ongoing rally is not restricted to just bitcoin but also extended to Solana and XRP, which gained 10.85% and 59.02%, respectively, over the last 7 days. But does this mean that good times are coming for <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> as well? Apurva Sheth, Head of Market Perspectives &amp; Research, SAMCO Securities, notes that bitcoin is a proxy for risk-taking in the markets. Bitcoin moving up means the risk appetite of investors is rising. Conversely, if it falls, then investors prefer safety." Both Nifty and Sensex have lost over 5% each over the last month. FIIs (<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword>) have also been scrambling out of Indian markets, having withdrawn Rs 1,14,445.89 crores during October 2024 and offloading Rs 34,348.30 crore so far in November. During trade today, Nifty and Sensex remained in red, with Nifty down by 0.74% and Sensex down by 0.6%. DIIs (domestic institutional investors) have been trying to keep the market afloat in both October and November, pumping in Rs 31,636.77 crore in Indian markets in November so far. Last month, DIIs infused Rs 1,07,254.68 crore in the Indian markets. According to an NSE report, by the end of the previous quarter, FPIs holding in NSE-listed companies stood at 36.3%, despite the seventh consecutive quarterly decline. Previously, FIIs holding in listed companies had hit a record high of 39.9% in December 2021. In contrast, DIIs are increasingly making headway into the Indian markets. Active Domestic Mutual Funds (DMFs) have been increasing their investments in the NSE-listed companies. Their ownership in these companies has risen from 12.4% in December 2021 to 15.7% as of September 30, 2024. Banks and insurance companies have also expanded their market share. Their ownership in NSE-listed companies has grown from 8.8% three years ago to 11% as of pr quarter.

The Bitcoin rally does not seem to be stopping anytime soon! Does this spell good news for Indian markets?

In a major step toward protecting students and their families, the Indian government has issued new guidelines aimed at curbing misleading advertisements by coaching centres. The Centre's crackdown addresses exaggerated claims like “100% selection” or “guaranteed job security” — promises that often lead to disappointment among students who invest time and money expecting a near-certain outcome. <h2>Protecting consumers, not shutting down coaching</h2>On Wednesday, the Central Consumer Protection Authority (CCPA) rolled out these guidelines in response to numerous complaints from the National Consumer Helpline. According to <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare, the government’s goal is not to shut down coaching centres but to ensure their ads don’t “undermine consumer rights.” “We have seen coaching centres deliberately concealing information from prospective students,” Khare said. “Therefore, we have come out with the guidelines to provide guidance to people involved in the coaching industry.” So far, the CCPA has issued 54 notices to violators and imposed penalties of around Rs 54.60 lakh. <h2>What’s prohibited?</h2>The guidelines lay out strict boundaries on what coaching centres can — and cannot — say in their ads. Here’s what the guidelines address: <ul><li>False Claims: Ads should not make unsubstantiated promises about “100% selection” or “100% job security.”</li><li>Course Details: No exaggerating or omitting information about courses, their duration, or outcomes.</li><li>Faculty Credentials: Qualifications of teachers must be presented accurately, with no fake credentials.</li><li>Fees and Refunds: All fees and refund policies must be transparent.</li><li>Selection Rates and Ranks: Coaching centres cannot claim high selection rates or exam rankings without proof.</li></ul>Additionally, they are not allowed to use successful candidates’ names, photos, or testimonials in ads without written consent from these individuals. Khare advised students to double-check the information provided by coaching centres. “Many UPSC students clear prelims and mains on their own and take only interview guidance from coaching centres,” she explained, encouraging students to verify the course details actually taken by successful candidates. The guidelines go beyond the broad term “coaching.” They define coaching as academic support, education, guidance, study programs, and tuition — but they exclude counselling, sports, and creative activities. The purpose of this definition is to keep the focus on academic and career-oriented programs, which are most prone to misleading ads. <h2>Full disclosure and consequences for violators</h2>Transparency is now mandatory, as coaching centres must display disclaimers and reveal essential course details. Facilities, infrastructure, and resources must be represented accurately, along with any required approvals or recognitions from authorities like AICTE or UGC. Khare, who also serves as the CCPA chief, stressed that coaching centres should accurately present the service, resources, and infrastructure provided. For instance, if they advertise “fully-equipped classrooms,” the guidelines require this to be an honest description. These guidelines come as a supplement to existing laws and are enforceable under the Consumer Protection Act. This means violators will face penalties, potentially similar to the Rs 54.60 lakh already imposed by the CCPA. The government hopes these new standards will push coaching centres to keep their ads honest, helping students and families make better-informed decisions. (With inputs from agencies)

No More False Promises: Government sets rules to prevent misleading and exaggerated coaching centre ads

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<ul class="summary-list"><li>US stocks ended Monday mostly higher, led by a surge in Tesla on the potential for easing autonomous vehicle rules.</li><li>The Nasdaq 100 rebounded after a more than 3% drop last week, which was partly influenced by the Fed's interest-rate outlook.</li></ul>US stocks traded mostly higher on Monday, partly driven by a surge in <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla.</a>Tesla stock jumped as much as 9% after <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-reportedly-relaxing-self-driving-rules-tsla-2024-11">a report said</a> the incoming Trump administration was planning to ease regulations on autonomous vehicles.The <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> led the market higher, ending a five-day losing streak, while the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> gained slightly and the <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> edged lower.The gains in the Nasdaq on Monday come after last week's more-than-3% decline, which was exacerbated by comments from Fed Chairman Jerome Powell.Powell said in a Thursday speech that the Fed can take its time in lowering interest rates.Investors are now pricing in a 59% chance of a 25-basis-point rate cut at December's Fed meeting, down from 80% before Powell's comments, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.Investors' top concerns this week include Nvidia's third-quarter earnings report, which is due after the market closes on Wednesday.For economic data, traders will be paying attention to housing starts and building permits, which are due out Tuesday morning. That will be followed by existing home sales and initial jobless claims, which are set to be released Thursday morning.Here's where US indexes stood at the 4 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,893.62, up 0.4%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,389.60, down 0.1% (55 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,791.81, up 0.6%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">The stock market's Trump honeymoon is starting to turn sour</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/read-spirit-airlines-open-letter-customers-bankruptcy-keep-flying-booking-2024-11">Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-blackwell-chip-ai-overheating-delay-share-price-2024-11">Nvidia's next-gen Blackwell GPU chip has reportedly hit an overheating snag.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-fed-rate-cuts-outlook-economy-trump-tariffs-tax-cuts-2024-11">Watch these 4 signs of re-inflation ahead of Trump's second administration.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-morgan-stanley-mike-wilson-bullish-11-upside-2024-11">Morgan Stanley strategist Mike Wilson turned bullish on stocks, issuing a 2025 year-end price target of 6,500 for the S&amp;P 500.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-reportedly-relaxing-self-driving-rules-tsla-2024-11">Uber shares fell 5% following concerns that a Tesla autonomous vehicle network could impact its business negatively.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 3.32% to $69.14 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 3.18% to $73.30 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> increased 1.66% to $2,612.70 an ounce.</li><li>The 10-year Treasury yield dropped 2 basis points to 4.422%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> gained 1.58% to $91,300.</li></ul>

Stock market today: Tesla powers tech rally as Nasdaq snaps 5-day skid

<ul class="summary-list"><li>Tesla stock surged as much as 8% after a report said President-elect Donald Trump plans to ease self-driving car regulations.</li><li>The incoming Trump administration is aiming to prioritize a federal framework for autonomous vehicles.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> stock surged as much as 8% on Monday after a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-17/trump-team-said-to-want-to-ease-us-rules-for-self-driving-cars?srnd=homepage-americas">Bloomberg</a> report said the incoming Trump administration is seeking to relax autonomous driving regulations.That would be a boon for Tesla, which has staked its future on launching fully autonomous electric vehicles in the coming years.According to the report, President-elect Donald Trump's transition team told advisors that they plan to make implementing a federal framework for fully self-driving vehicles a top priority for the Department of Transportation.The current federal rules are strict about car manufacturers selling large quantities of vehicles without steering wheels or foot pedals.For reference, Tesla CEO and Trump ally Elon Musk recently <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-cybercab-robotaxi-details-production-earnings-call-2024-10">unveiled an autonomous vehicle</a> named the Cybercab with no steering wheel or foot pedals.Tesla said it plans to begin selling the Cybercab in 2026.The National Highway Traffic Safety Administration allows manufacturers to deploy only 2,500 self-driving vehicles annually. Legislative efforts to increase the self-driving restriction to 100,000 vehicles per manufacturer a year have repeatedly failed.A request for comment from the Trump transition team was not immediately returned.According to Wedbush analyst Dan Ives, if restrictions on fully self-driving vehicles are eased, Tesla will be the main beneficiary, calling it a "significant tailwind for Tesla's autonomous and AI vision heading into 2025.""Musk's significant influence in the Trump White House is already having a major influence and ultimately the golden path for Tesla around Cybercabs and autonomous is now within reach with an emboldened Trump/Musk strategic alliance playing out in real time and very in line with our thesis," Ives said in a note on Sunday.Ives estimates autonomous vehicles are a $1 trillion opportunity for Tesla, and if realized, could catapult Tesla to a $2 trillion valuation over the next 12 to 18 months, representing potential upside of 76% from current levels.Tesla stock has surged 37% since Donald Trump's election win earlier this month.

Tesla stock jumps 8% on Trump administration plan to relax self-driving car rules

<ul class="summary-list"><li>US stocks were traded mixed on Monday amid a 6% surge in Tesla stock.</li><li>Fed Chair Powell's speech dampened rate-cut expectations last week, impacting market sentiment.</li></ul>US stocks traded mixed on Monday after seeing <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-rate-cut-odds-fed-powell-comments-hawkish-2024-11">sharp losses on Friday</a> sparked by Federal Reserve Chair Jerome Powell.Powell said in a speech on Thursday that the Fed is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-fed-powell-comments-rate-cut-odds-rally-2024-11">not in a rush to cut</a> interest rates, sparking investor worries that the Fed may not be as aggressive as previously thought in lowering rates.Investors are now pricing in a 58% chance of a 25-basis-point rate cut at December's Fed meeting, down from 80% before Powell's comments.On Monday morning, the tech-heavy Nasdaq rose 0.2%, driven by a surge in <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> stock. Shares of the EV maker jumped as much as 6% after a Bloomberg report said the Trump administration plans to ease self-driving car regulations.Looking ahead, investors will be focused on <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia's</a> earnings report, which is due after the market closes on Wednesday.For economic data, traders will be paying attention to housing starts and building permits, due out Tuesday morning, followed by existing home sales and initial jobless claims set to be released Thursday morning. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,874.71, up 0.1%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,412.30, down 0.1% (28 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,719.03, up 0.2%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">The stock market's Trump honeymoon is starting to turn sour</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/read-spirit-airlines-open-letter-customers-bankruptcy-keep-flying-booking-2024-11">Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-blackwell-chip-ai-overheating-delay-share-price-2024-11">Nvidia's next-gen Blackwell GPU chip has reportedly hit an overheating snag.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-fed-rate-cuts-outlook-economy-trump-tariffs-tax-cuts-2024-11">Watch these 4 signs of re-inflation ahead of Trump's second administration.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 1.24% to $67.75 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 1.25% to $71.93 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> increased 1.54% to $2,609.70 an ounce.</li><li>The 10-year Treasury yield rose 1 basis point to 4.452%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> gained 0.22% to $90,072.</li></ul>

Stock market today: Tech-heavy Nasdaq pushed higher by Tesla after Friday rout

<ul class="summary-list"><li>Donald Trump's presidential-election victory has fueled major moves in financial markets.</li><li>Investors are anticipating tax cuts and looser regulation from the president-elect.</li></ul>Donald Trump's election victory immediately sent financial markets into a frenzy.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">Stocks soared to records</a> on the prospect of tax cuts and looser regulation. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bank-stocks-donald-trump-victory-reelection-wall-street-outlook-regulation-2024-11">Bank stocks</a> in particular got a lift amid speculation of increased deal activity.<a target="_blank" class="" href="https://markets.businessinsider.com/rates/u-s--rates-10-years">Bond yields</a> also surged as investors priced in the expectation that Trump's protectionist trade policies will be inflationary, complicating plans for further rate cuts. The dollar rose and gold dipped.Cryptos of all sorts charged higher, with bitcoin setting a series of <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-btc-90000-donald-trump-election-crypto-policies-2024-11">records above $90,000</a> as traders looked ahead to lighter regulation from the self-appointed "<a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/trump-bitcoin-cryptocurrency-election-outlook-crypto-funding-regulation-biden-novogratz-2024-7">crypto president</a>."A group of Bank of America analysts led by Michael Hartnett, the chief investment strategist of BofA Global Research, took stock of the recent moves.Below are six charts that show just how extreme market fluctuations have been across assets:<h2 id="aa272ef7-0f9f-4856-aa0b-67ae288e7a0b">1. Large-cap stocks saw their biggest weekly inflow ever.</h2><div type="image" title="Chart showing inflow into large cap US stocks" height="897" width="1020" msid="115341350" hostid="261" sizebytes="42246"></div><h2 id="6640a71d-0059-4868-95bf-82898dfe90c2">2. Chinese stocks saw the biggest week of outflows in more than five months.</h2><div type="image" title="Chart showing outflow from Chinese stocks" height="867" width="986" msid="115341354" hostid="261" sizebytes="31244"></div><h2 id="f0e7fd4a-b458-4031-b623-1248301cb1ce">3. Financial stocks saw the biggest inflow in more than two years.</h2><div type="image" title="Chart showing inflows to financial funds" height="945" width="1082" msid="115341352" hostid="261" sizebytes="46122"></div><h2 id="f33bff20-8b01-4bad-b84d-207602c9141d">4. Gold saw its biggest outflow in more than two years.</h2><div type="image" title="Chart showing outflow from gold" height="858" width="999" msid="115341353" hostid="261" sizebytes="37944"></div><h2 id="b4a7a96b-aa46-4b21-89c6-c72d49676042">5. Money-market fund assets reached an all-time high.</h2><div type="image" title="Graph showing money market funds" height="835" width="980" msid="115341357" hostid="261" sizebytes="32386"></div><h2 id="f1e22c3a-573b-476b-a65a-3ee6136bf2ac">6. Crypto saw its biggest week of inflows on record.</h2><div type="image" title="Chart showing crypto fund flows" height="886" width="1012" msid="115341355" hostid="261" sizebytes="28802"></div>

6 charts showing Trump's immense post-election market impact 

<ul class="summary-list"><li>Vaccine stocks have tumbled since Trump appointed vaccine skeptic Robert F. Kennedy Jr. to health secretary.</li><li>Vaccine-makers Moderna, Pfizer, and GSK saw sharp losses.</li></ul>It's been a tough day for health stocks since Donald Trump announced his appointment of <a target="_blank" href="https://www.businessinsider.com/trump-robert-f-kennedy-jr-rfk-department-health-human-services-2024-11">Robert F. Kennedy Jr.</a> — a staunch vaccine skeptic — as health secretary.The news, which came late in the day on Thursday, sent the shares of vaccine-makers sharply lower on Friday, with <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/mrna-stock">Moderna</a> leading the losses, falling as much as 10%. <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/pfe-stock">Pfizer</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvax-stock">Novavax</a> both dropped 6% at intraday lows, while <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gsk-stock">GSK</a> lost 5%.But the selling wasn't contained to just vaccine names. It spread into US-exposed European healthcare stocks, such as Novo Nordisk and Roche, which were down 5% and 3% at intraday lows, respectively.The losses extend a days-long skid for the sector after the election results last week saw investors boost bets that Kennedy — a key Trump ally — would notch a cabinet role.Since Election Day, Moderna has fallen more than 30%, while Pfizer has slid 11%. Those losses have stood in contrast to the rally enjoyed by the rest of the market, which has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">rallied</a> on the hopes that Trump's lighter regulatory stance and corporate tax cuts could boost corporate earnings.<a target="_blank" href="https://www.businessinsider.com/robert-f-kennedy-jr-views-vaccines-autism-testing-debunked-2023-7">Kennedy</a> has long railed against vaccines, once calling those that protect against Covid-19 a "crime against humanity." He has treaded more carefully in recent weeks, though, and has said he wouldn't outright ban vaccines."If vaccines are working for somebody, I'm not going to take that away. People ought to have choice," he told <a target="_blank" href="https://www.nbcnews.com/politics/2024-election/trump-win-rfk-jr-says-wont-take-away-anybodys-vaccines-rcna178955">NBC</a> after Trump's election.Since Trump's election win, several analysts have downgraded their outlooks on vaccine stocks amid the rising uncertainty in the industry. Bank of America analysts lowered their price target on Moderna last week, from $110 to $90, partially citing uncertainty after Trump's election win, while Deutsche Bank analyst Emmanuel Papadakis cut his rating on GSK to a hold after Kennedy's appointment."We consider vaccines to be amongst the greatest scientific achievements to impact public health: unfortunately this view is not shared by the nominee," Papadakis wrote in a client note <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-15/health-stocks-slide-as-trump-picks-vaccine-skeptic-kennedy">seen by Bloomberg</a>.Formerly an environmental justice lawyer, Kennedy pivoted to running an anti-vaccine charity in recent years, and ran for president as an independent candidate in this election cycle. He dropped out to <a target="_blank" href="https://www.businessinsider.com/rfk-jr-drops-out-presidential-race-2024-8">endorse Trump</a> in August, which some sources reported was a bid to <a target="_blank" href="https://www.businessinsider.com/rfk-wanted-white-house-job-exchange-for-endorsing-trump-report-2024-7">secure a position</a> in the administration.In his role as <a target="_blank" href="https://www.businessinsider.com/how-rfk-jr-plans-to-make-america-healthy-again-2024-11">health secretary</a>, Kennedy will have a top role in health policy in the US, but likely won't be able to actually control which vaccines children are required to get for school. That will remain up to individual states, but he could change vaccine requirements for federal employees or the US military.That's if the Senate confirms his appointment, which some have said could be a close vote considering mixed reactions among policymakers so far.Kennedy has also promoted removing fluoride from water supplies and overhauling federal food regulations, and has supported products like raw milk, which the Food and Drug Administration warns against.He's also floated hopes to cut highly processed food from school lunches, which was a priority under the Obama administration.

Health stocks are tumbling after Trump's appointment of vaccine skeptic RFK Jr.

<ul class="summary-list"><li>Bank of America cited three risks that could upend corporate earnings growth, a key driver of stock returns.</li><li>One potential headwind is Trump's proposed tariff plan, BofA said.</li></ul>The stock market has been <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">riding high</a> since Donald Trump won the presidential election.One main driver of that has been investors pricing in strong profit growth in the future, seen as a direct byproduct of Trump's plans to cut the corporate tax rate and loosen regulation.Although <a target="_blank" class="" href="https://www.businessinsider.com/category/bank-of-america">Bank of America</a>'s year-end target for the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> is slightly above current levels, new research from the firm's equity-strategy team laid out three developments that could derail the ongoing "earnings-per-share upcycle" that's powering gains.First, an economic recession could significantly undercut earnings growth, drawing S&amp;P EPS down 10% to 20%.Though a US downturn isn't BofA's base case, the bank cited that recession risk is a real possibility under incoming president Donald Trump.That will depend on which policies the incoming administration prioritizes, analysts wrote in a separate note. In a scenario where Trump pushes dramatic immigration curbs and protectionist trade policies amid minimal fiscal easing, the economy would sink into recession.Peak-to-trough profit drawdowns of 20% are typical in an average recession. Under this scenario, EPS would drop to $195-$220 next year.To be sure, BofA also sees chances of blowout growth, if the president-elect de-emphasizes trade and immigration restrictions in favor of tax cuts and deregulation. In this case, GDP growth could even exceed 3% in 2025.Second, if Trump's trade plans are implemented, retaliatory tariffs could trigger a 10% hit to EPS.During his campaign, the president-elect pledged to implement a 10% duty on all foreign imports into the US. That wouldn't apply to Chinese products, which would face a 60% rate instead.If Trump stays true to his word, BofA expects US foreign sales to take on a 3% to 4% hit as the rest of the world establishes its own retaliatory tariffs.In the mounting trade war, industrials and semiconductor stocks would be most at risk, the bank said.Third, a dramatic upswing in bond yields could slash EPS by another 10%.BofA's worst-case scenario would be if the 10-year Treasury yield surges to 7%, a situation that could be prompted if Trump's tariff and immigration reductions spark an inflation shock.If this were to happen, the yield jump implies that the Purchasing Managers Index would hit 43 by 2024's year-end.This measure monitors the health of US manufacturing and indicates a contraction whenever its reading stands below 50. As of October, PMI registered a 46.5 level.While a contracting manufacturing base would cut into EPS, higher bond yields could also weigh on equity exposure. BofA noted that stocks could face increased pressure once the 10-year rate rises above 5%.The yield has been climbing higher amid Trump's election, as uncertainty has grown over whether the Federal Reserve can cut rates amid the president-elect's policies. The 10-year rate is currently trading above 4.5%.

3 developments that could derail the stock market's post-Trump sugar high, BofA says

<ul class="summary-list"><li>France's gambling regulator said it's looking into Polymarket to determine compliance with domestic laws.</li><li>That comes after one "whale" who bet $30 million on a Trump win was revealed to be a French national.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/kalshi-polymarket-top-apple-app-store-downloads-election-betting-surge-2024-11">Election betting surged</a> during the 2024 presidential campaign, and the rising popularity of gambling on politics has drawn the attention of at least one government watchdog. Polymarket, the crypto-based betting site which saw four accounts tied to one trader wager $30 million on a Donald Trump victory, is being probed by France's gambling regulator following the US election. The Autorité Nationale des Jeux said it's investigating Polymarket to determine whether it complies with its domestic laws."We are aware of this site and are currently examining its operation and compliance with French gambling legislation," a spokesperson for the regulator told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-07/crypto-bets-on-trump-polymarket-examined-by-french-regulator-anj">Bloomberg</a>. <a target="_blank" class="" href="https://en.thebigwhale.io/article-en/exclusive-france-to-ban-polymarket">A report</a> from the crypto news site The Big Whale said the ANJ is preparing to ban the site for French users. The increased scrutiny of Polymarket comes after a trader revealed to be a French national bet $30 million on a win for Trump on the platform. The "whale" <a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-48-million-profits-trump-president-election-win-2024-11">saw about $48 million</a> in profits on the wagers. While there was speculation that the bets were an influence campaign aimed at supporting Trump, the trader told <a target="_blank" href="https://www.wsj.com/finance/trump-odds-polymarket-election-betting-whale-3d94bed3">The Wall Street Journal</a> that the bets were simply a high-conviction view on the election outcome and that he has no political agenda. France tightly regulates online betting and requires any new gambling markets to receive authorization from the ANJ in advance. Polymarket, which is based in New York, is not available to US users, though <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-01/polymarket-rides-election-betting-frenzy-that-defies-a-us-ban">some bettors have used VPNs</a> to work around the restrictions.Polymarket garnered nearly $3.7 billion in wagers on the election before the result was called, Polymarket data shows. The site showed strong odds in favor of a Trump win even as he and Kamala Harris were nearly tied in the polls in the weeks leading up to the vote.

French regulators are looking into Polymarket after a massive surge in US election betting

<ul class="summary-list"><li>Robinhood has added new crypto tokens to its platform, including XRP and memecoin Pepe.</li><li>The brokerage is also re-listing Solana and Cardano, which it removed last year amid an SEC crackdown.</li></ul>Robinhood is beefing up its crypto offerings for its users as enthusiasm for digital assets skyrockets since Donald Trump's election victory. The retail brokerage has added a handful of cryptocurrencies to its platform, including XRP and Pepe, the company announced Wednesday. The brokerage also re-listed Solana and Cardano, which it had removed last year amid a crackdown by the US <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/securities-and-exchange-commission">Securities and Exchange Commission</a>.Coinbase also added <a target="_blank" class="" href="https://www.businessinsider.com/pepe-frog-meme-hate-symbol-hope-hong-kong-protesters-2019-10">Pepe</a>, a memecoin based on an an illustration of a frog, on Wednesday. The coin surged over 51% to an all-time high of $0.000019 following the news, according to data from CoinMarketCap.The new tokens available to Robinhood users come as the crypto industry cheers Donald Trump's win in the US presidential election.Trump has billed himself as the "crypto president" and frequently voiced his support for the industry throughout his campaign. He delivered a speech at a bitcoin event over the summer, with promises to create a "<a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">bitcoin national stockpile</a>" and even launched a stablecoin under his crypto company.Trump is expected to support policies easing regulation over the industry during his term, and has vowed to <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/gary-gensler-sec-cryptocurrencies-bitcoin-ftx-binance-roundup-views-2023-9">fire SEC chair Gary Gensler</a>, who has taken a hard line on the sector. Part of Gensler's approach has included cracking down on large crypto exchanges like Coinbase and Binance. Last year, the SEC filed lawsuits against the exchanges, arguing that tokens like Solana, Cardano, and Polygon are unregistered securities.<a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-btc-90000-donald-trump-election-crypto-policies-2024-11?_gl=1*br2xck*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTUyMTI4Mi40MDAuMC4xNzMxNTIxMjgyLjYwLjAuMA..">Bitcoin</a> has surged to all-time highs since the election, skyrocketing to above $92,000 on Wednesday afternoon. Industry proponents say the election marks a major turning point for the industry.

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