On Wall Street, The S&P 500 rises to a new intraday record as December begins, as investors look for stocks to add to November’s significant gains.
He S&P 500 increases 0.2%, to a new intraday high. For his part, the Dow Jones Industrial Average drops 0.2%, after briefly exceeding 45,000 points, a milestone it touched several times last week. He Nasdaq Composite rises 0.6%.
The actions of Intel They climb 5% after their CEO, Pat Gelsinger, announced his retirement after four years of poor performance at the semiconductor company. On the other hand, tesla gains 2% after receiving a rating upgrade from “neutral” to “buy” by Roth MKM. The firm cited Elon Musk’s close relationship with President-elect Donald Trump as a catalyst.
November was the best month of 2024 both for him Dow as for him S&P 500with advances of 7.5% and 5.7% respectively during that period. Most of the gains were recorded in a post-election rally after President-elect Donald Trump emerged as the winner. Both indices hit all-time highs in Friday’s shortened session.
Bigtech in the spotlight
The country’s tech titans may need to start beefing up their defenses against the agenda of next Federal Communications Commission (FCC) Chairman Brendan Carr.
Carr made this clear within an hour of Donald Trump’s announcement of his appointment as FCC chairman last month.
“We must dismantle the censorship cartel and restore the free speech rights of ordinary Americans,” Carr said on X, the social media platform.
Days before his appointment, Carr sent letters to Google (GOOG, GOOG) CEO Sundar Pichai; from Microsoft (MSFT), Satya Nadella; of Meta (META), Mark Zuckerberg; and from Apple (APPL), Tim Cook. In them, he predicted “broad actions to restore Americans’ First Amendment rights” once Trump takes office.
These actions could include “a review of the activities of your companies, as well as outside organizations and groups that have acted to restrict those rights,” according to a copy of the letter Carr published in X.
Many tech company CEOs are trying to build a good relationship with the incoming Trump administration, hoping to improve their standing in the nation’s capital after years of aggressive oversight and antitrust lawsuits. For example, last week, Zuckerberg met face-to-face with Trump at his Mar-a-Lago hotel and club in Florida.
Carr claimed that major tech corporations abuse their dominant market position and Section 230 legal protections to “eliminate diverse political viewpoints from the digital public space.”
“Today, a handful of corporations can shape everything from the information we consume to the places we shop,” Carr wrote in a chapter of a book about the FCC that he wrote.
“They are not simply succeeding in the free market; “They are taking advantage of a landscape that, in many cases, has been manipulated—frequently by the government—to favor their business models.”
As a solution, Carr suggested that Congress not only eliminate Section 230’s “carte blanche” immunity but also impose transparency rules similar to those that apply to broadband providers. These measures would require social media platforms to publish more specific terms of service and establish an appeals process so that content creators can challenge decisions about removing their posts.
Source: Ambito
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