Good evening.
Stocks take a dip, Biden chooses Powell for a second term, and Elon Musk threatens JPMorgan with… a bad Yelp review.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks fell on Monday as investors kicked off a holiday-shortened week.
The stock market will be closed on Thursday for Thanksgiving and open for half the day on Friday.
President Biden said he will nominate Jerome Powell to serve as chairman of the Fed for a second term.
The move signals a continuation of easy-money policies in the near term, which is good news for stocks.
The crypto market fell on Monday, with BTC around $56,000, as investors wait for a fresh catalyst.
Catch Up
Apple is reportedly looking to debut a fully self-driving car by 2025.
Brazil’s Central Bank plans to launch a CBDC pilot in 2022.
TikTok is now more popular among U.S. teenagers than Instagram.