Episode 60: Markets bounce back as Biden is set to take office
Markets are trying to bounce back after a losing week, President-elect Joe Biden plans to dive into economic recovery immediately once he takes office, and the IRS delays the start of tax season.
Day 1 Plan:
1. Federal mask mandate
2. Extend eviction, student loan forbearance
3. Rejoin Paris climate accord
4. Reverse Muslim travel ban
What’s on the board this week!
Bumble’s IPO stands out for a few more reasons. At 31, Wolfe Herd will be one of the youngest female CEOs to take her company public. And Bumble is expected to list on the Nasdaq with a board that’s 73% female, a stark counterpoint to all the firms that go public with boards that are made up mostly—if not entirely—of men.
Green energy... Three words: "clean energy future." Biden has pledged $2T to clean energy innovation, partly through sustainable infrastructure and subsidies for green tech. Think: more EV charging stations, tax credits for buying electric, and incentives for wind and solar. Subsidies could encourage more delivery companies to buy e-trucks from companies like Workhorse, GM, and Rivian. On the wind and solar side, companies like NextEra Energy, Tesla, and First Solar could benefit from Biden's goal of a carbon-free power sector by 2035.
Breaking: Microsoft is participating in a $2 billion investment in Cruise, the self-driving company acquired by General Motors in 2016 for around $1 billion. The new deal values Cruise at $30 billion.
Market Closed up today and: JPMorgan says investors need to shake off 'FANG fatigue' and buy the Big Tech stocks again
IPO
Four companies plan to go public on U.S. exchanges this week: Patria Investments, RLX Technology, MYT Netherlands, and Dream Finders Homes. http://axios.link/HaaP
Thank you and see you Friday!