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Here’s everything you need to know today: There are currently 14,157 publicly traded companies in the United States and over 1000+ articles released about S&P500 companies alone every single day. Today we will be showing you the top 3 events that you need to know today:

Market Performance (1 year)

1. Dow - 14.53%

2. S&P 500 - 25.06%

3. Nasdaq - 27.19%

4. Bitcoin - 122.24%

Today (Here’s 3 things you need to know)  

1. Elon Musk Loses $42 Billion as Tesla Shares Dive

1 Year Performance (TSLA): +65.45%

Elon Musk’s net worth dropped by $42 billion this week as Tesla stock (TSLA) plunged 13% from its record high valuation.

The stock hit an all-time high of $479.87 per share on Tuesday, valuing the company at $1.5 trillion, but ended the week at $421.06, erasing $200 billion in market value.

The drop came as traders reassessed post-election gains fueled by optimism surrounding Musk's alignment with President-elect Donald Trump.

The Federal Reserve’s rate cut announcement on Wednesday triggered the decline. Fed Chair Jay Powell’s comments about limiting future cuts dampened investor sentiment.

Higher interest rates make borrowing more expensive, negatively affecting EV sales, as many Tesla vehicles are purchased with financing.

Musk’s personal fortune, which had surged by $180 billion after Trump’s election victory, fell to $444 billion, down from $486 billion earlier in the week.

2. Government Shutdown Struggles Signal Policy Challenges Ahead

The U.S. government’s chaotic effort to avoid a shutdown highlights the potential challenges facing the incoming Trump administration as it seeks to implement its agenda, raising concerns for investors.

While markets remained relatively calm amid the drama, the impasse underscored broader uncertainty about fiscal policy and governance. Investors also contend with volatility fueled by the Federal Reserve's forecast of fewer rate cuts next year.

The clash within the Republican Party, particularly between President-elect Trump and fiscal hardliners resistant to raising the debt ceiling, signals possible gridlock and policy turbulence ahead.

Historically, government shutdowns have had limited market impact, with the S&P 500 often showing minimal declines or even modest gains during these periods.

However, uncertainty leading up to potential shutdowns has proven more unsettling for markets than the events themselves. On Friday, a cooling inflation report helped offset concerns, boosting the S&P 500 by 1.7%.

Still, the deadlock casts doubt on Trump's ability to push through key fiscal initiatives like stimulus measures in 2025, given opposition from Republican fiscal hawks. Analysts warn that persistent policy battles could disrupt the "Trump Trade", which has previously benefited from expectations of deregulation and tariffs.

3. Quantum Computing Stock RGTI Outpaces NVIDIA with 495%

1 Year Performance (RGTI): 818.63%

Wall Street is increasingly optimistic about quantum computing, anticipating its transformative potential akin to generative AI. Rigetti Computing (RGTI), a $2 billion quantum computing company, has significantly outperformed NVIDIA (NVDA) in 2023, with stock growth of +495.3% compared to NVIDIA’s +164.7%. Key drivers of Rigetti’s rise include breakthroughs like Alphabet’s advanced Willow quantum chip, Amazon’s Quantum Embark program for quantum adoption, and U.S. lawmakers’ $2.7 billion funding initiative.

The global quantum computing market, currently valued at $1.3 billion, is expected to grow at a CAGR of 32.7%, reaching $5.3 billion by 2029, with McKinsey projecting a potential market size of $1.3 trillion by 2035.

Rigetti Computing is strategically positioned to capitalize on this growth, leveraging its Quantum Cloud Services platform and launching advanced systems like the Novera processor and Ankaa-3 system.

Future plans include deploying a 336-qubit system and improving chip fabrication to address operational challenges. While the company has promising growth prospects, quantum computing remains a nascent, capital-intensive sector with risks such as cash flow constraints.

Existing shareholders are advised to hold their positions, while new investors are encouraged to observe cautiously, as Rigetti’s long-term potential continues to unfold.

Market Memes Of The Day

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