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Good morning investors! Mood remains optimistic as the new rally declines to die down and DOW closes over 44,000 for the first time.
Experts think this rally will continue, so why not benefit from it by buying stocks that are likely to go high thanks to Trump. We covered such stocks in this week’s PRO edition, which you can access for $3.99 per month (plus many more benefits).
Today we cover:
New retirement account limits
Tesla shines more
Invest in BTC, say experts
📊 Economy and News
Takeaway: New 401(k) Limits Offer Boost to Older Workers' Retirement Savings
As retirement savings remain a challenge for many Americans, recent changes to 401(k) plans offer potential benefits, especially for older workers.
The IRS has raised 401(k) contribution limits for 2025, with employee deferrals increasing to $23,500. Notably, those aged 60 to 63 can now make catch-up contributions of up to $11,250, bringing their total potential deferral to $34,750—a 14% increase from 2024.
This increase comes at a time when a significant portion of Americans, particularly baby boomers, feel they’re behind on retirement savings due to factors like debt and late start. Although many workers aren’t yet maximizing their contributions, these enhanced limits present an opportunity for older workers to strengthen their retirement funds.
Interested in more retirement news and tips? Check Retirement Download, a FREE retirement newsletter (twice a week) with the latest retirement news, tips, stock picks, and more.
Global hits:
China frontloads a budget of $7.87 billion to support urban affordable housing projects. The country is expected to return to stimulus table next year, again as US trade tariffs likely loom.
Dampening corporate mood, rising bankruptcies cloud BOJ's rate hike path.
Economists predict a dip in India's GDP growth to 6.5% for the September quarter.
What's your biggest worry about your retirement nest? |
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📈 Stocks
S&P 500 6,001.35 (+0.097%)
DJIA 44,293.13 (+0.69%)
NASDAQ 19,298.76 (+0.062%)
BRENT CRUDE 71.98 (-2.65%)
* Prices as of Nov 12th, 12:20 AM UTC
It’s Tesla’s World, We’re Just Living In It
Gif by snl on Giphy
Tesla shares surged nearly +9% on Monday, continuing a postelection rally as President-elect Donald Trump, aligned with CEO Elon Musk, begins assembling his cabinet. Over the past five days, Tesla's stock has climbed more than 40% in the last five days.
In recent days, analysts have boosted Tesla's price targets, with Bank of America raising its target from $265 to $350, and Wedbush adjusting theirs from $300 to $400. Wedbush analysts also reaffirmed an "outperform" rating, highlighting optimism around Tesla’s strong financial results and the company’s recent return to a $1 trillion market cap.
Musk stands to gain significantly from potential new government contracts, adding to the $19 billion already awarded to SpaceX. Several federal investigations into Musk's companies may also be reduced under the new administration.
Though Trump previously suggested he might cut the $7,500 electric vehicle tax credit, he recently hinted Musk could play a role in improving “government efficiency” and included Musk in a call with Ukrainian President Volodymyr Zelenskyy two days ago.
Controversial: Engines on 1.4 million Honda vehicles might fail, so US regulators open an investigation.
Singapore Airlines goes down: Singapore Airlines shares declined following a nearly 50% drop in net profit for April to September, attributed to lower yields and rising competition. Despite the profit decrease, SIA kept its interim dividend at 10 Singapore cents per share. Management emphasized that competition will not deter their expansion plans.
EV troubles: Toyota Motor has announced that California’s upcoming electric vehicle mandates, set to begin next year, are "impossible" to achieve. The new regulations require that 35% of 2026 model-year vehicles, launching next year, be zero-emission.
🔐 Crypto
Bitcoin $86,742 (+8.3%)
Ether $3,300 (+3.54%)
Solana $219 (+2.43%)
Total market cap $2.9T(+6.22%)
* Prices as of Nov 12th, 12:20 AM UTC
Bitcoin Prepares for $90,000 But Binance is in Trouble
The estate of the failed crypto exchange FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, aiming to recover at least $1.76 billion over what it calls a fraudulent share transaction.
The lawsuit, filed Sunday in a Delaware court, refers to a 2021 deal in which Binance, Zhao, and others sold back a 20% stake in FTX and an 18.4% stake in its U.S.-based entity, West Realm Shires, to FTX. The FTX estate argues that this repurchase was funded by FTX’s Alameda Research division using a mix of the company’s and Binance’s tokens, along with Binance's dollar-pegged stablecoin.
According to the suit, Alameda was insolvent at the time of the repurchase and lacked the funds for the transaction. It labels the deal, agreed upon with FTX co-founder Sam Bankman-Fried—now serving a 25-year sentence for fraud tied to FTX's collapse—as a "constructive fraudulent transfer."
Binance has denied these allegations, stating the claims lack merit and pledging a vigorous defense.
Elsewhere, Bitcoin reached a new high on Monday, continuing its rally post-election. The cryptocurrency crossed $88,000. Ether also rose by 2%, following a 30% surge last week that pushed it above $3,000. Cardano's token gained 1.7%, while XRP held steady, and Dogecoin increased nearly 8%.
Shares of crypto-related companies surged, with Coinbase up 15% and MicroStrategy gaining 12%. Futures premiums spiked, signaling investor optimism that Bitcoin’s record run will continue. On the Deribit derivatives exchange, open interest in Bitcoin futures over $90,000 exceeded $2.8 billion.
Even asset manager Bernstein, overseeing $725 billion, is urging investors to boost their exposure to Bitcoin and cryptocurrencies “as soon as possible.”
💵 Personal Finance
Financial benefits of having kids - Part I
Gif by dechinezen on Giphy
When we think of the financial side of raising children, we usually think of related expenses. However, there are also some exciting financial benefits of having kids.
Tax benefits
This is the biggest benefit of having children. The US and some other countries offer tax rebates and perks to filers with children. Here are a few things to know:
The Child Tax Credit can help families offset the cost of raising kids. The credit is worth up to $2,000 per qualifying child.
The Child and Dependent Care Credit covers qualified expenses for the care of disabled dependents and children. Only up to $3,000 (expenses) are covered for one individual and up to $6,000 for two or more individuals. The percentage, however, depends on your adjusted gross income.
The Adoption Tax Credit is for families that adopt a child. For 2023, the adoption tax credit is fully available in the amount of $15,950 if your modified adjusted gross income is equal to or less than $239,230. If your modified adjusted gross income is more than $239,230 but less than $279,230, you will receive a reduced tax credit. The amount is revised every year. Families who were in the adoption process during 2022 can claim up to $14,890 in eligible adoption expenses for each eligible child.
The Earned Income Tax Credit is a refundable tax credit that ranges from $560 to $6,935 for tax year 2022.
This isn’t it as there are more benefits of having kids. Watch out for part II tomorrow. Also, check this video about a 15 year old who made $1.8 in sales, showing kids are unstoppable.
💰 Be a Better Investor
“A budget is telling your money where to go instead of wondering where it went.”
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.