Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US stocks rose Friday, sending both the S&P 500 and Dow to fresh record highs and their best week of the year in the wake of the election.

• 📈 | One Notable Gainer: Stock in insulin pump provider Insulet soared 9.4% after hiking its forecast, citing growing demand.

• 📉 | One Notable Decliner: Airbnb shares closed down 8.7% as the struggling travel stock got another middling review for last quarter.

• 🌇 | Tomorrow's Trade: Has the Sun Set on Solar? Scroll down for more.

Plus, today’s sponsor wants to help you take your smartphone from “expense” to “income”.

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MARKET MOVERS

Tesla, Pinterest, Toast

TSLA (+8.2%) Tesla hits $1 trillion market cap as stock rallies after Trump win (CNBC)

PINS (-14%) Pinterest stock sliding lower on its weak Q4 guidance (YF)

TOST (+14.5%) Toast’s stock soars after company swings to profit and revenue beats estimates (MarketWatch)

AKAM (-14.4%) Akamai slides, but outlook might tick up on investments, sales strategy (SeekingAlpha)

AXON (+28.7%) Taser Maker Soars On Uplifting Guidance After Earnings Beat (Investors.com)

OVERHEARD ON THE STREET

ABC: Experts say inflation contributed to a global backlash against incumbents, helping tip the election in Trump's favor.

Barron’s: Here’s how Fed Chair Jerome Powell could help President-elect Donald Trump fund an economic boom.

CNBC: The Education Department’s efforts to cancel student debt for millions are likely to end with Trump's election, as he has called the initiative "vile" and "not even legal”.

AP: While prices for most goods have been falling this year, the latest PCE data shows inflation remains high for services like dining out, auto services, and insurance.

CNN: China approved a $1.4T plan to allow local governments to refinance debt, among other stimulus measures to prepare for a second Trump term.

TOMORROW’S TRADE IDEA, TODAY

Has the Sun Set on Solar?

Buy the Dip

First Solar’s (FSLR) stock has dropped 17% over the past month in the lead-up to the election, amid fears of a Trump presidency. That has now come to fruition. 

Yet, some analysts, such as Wells Fargo’s (WFC) Michael Blum, believe that this is not the end for solar, but rather, an excellent buying opportunity.

While some companies in the sector could suffer from a rollback in climate initiatives, Blum says, First Solar is in a great position to grow. He rated the nation’s largest solar panel maker Overweight.

Tax Tailwinds

The bank’s analysts admit that there is a high likelihood that Republicans will try to dismantle parts of the Inflation Reduction Act, which has served as a major tailwind for the solar industry. 

However, Wells Fargo also notes that domestic manufacturing tax credits are likely to remain on the books, thanks to the jobs they have created in GOP districts. Additionally, Trump’s proposed tariffs on China could limit First Solar’s competition.

Tariff Protection

Solar stocks could be in for a rough few months — or few years. But First Solar is well positioned among them, given its US-based manufacturing, which could offer protection against Chinese tariffs that some of its competitors do not enjoy. 

Wells Fargo isn’t the only big bank bullish on First Solar. Bank of America (BAC) has given the stock a $259 price target, which represents around 33% upside from current prices.

TOGETHER WITH MODE MOBILE

32,481% Growth: Invest in the Smartphone Revolution @ $0.25/Share

Mode Mobile turns your phone into a revenue stream, with users saving and earning $35M+..

Their 32,481% growth ranks #1 on Deloitte's 500 fastest growing list..

28,197 investors already backed the $1T+ smartphone industry's new disruptor.

Now you can at just $0.25/share. Partnerships with Best Buy, Walmart, & Amazon show potential for even more growth! Invest now and get up to 100% bonus shares!

💸 Reserve Your Shares: $0.25/Share - Act Quickly!

This is a paid advertisement for Mode Mobile Regulation A offering. Please read the offering circular and related risks at invest.modemobile.com.

ON OUR RADAR

WSJ: For investors with inflation concerns post-election, consider buying inflation-protected securities to safeguard your portfolio.

Reuters: China's struggling steel industry could face further strain under proposed Trump tariffs.

CNBC: Investor Bill Ackman wants a US listing for Universal Music Group following violent attacks in Amsterdam, where the company is currently traded.

CNN: $3B shoemaker Steve Madden announced it would quickly cut its Chinese production in half to avoid Trump's tariffs.

SeekingAlpha: One company isn’t planning to cut back on Chinese production anytime soon. Pfizer will invest $1B in China over the next five years.

THURSDAY’S POLL RESULTS

Which stock do you think will outperform over the next 12 months?

🟩🟩🟩🟩🟩🟩 Hasbro (HAS)

🟨🟨🟨🟨🟨⬜️ Mattel (MAT)

A message from the Sponsor: * This is a paid advertisement for Mode Mobile Regulation A offering. Please read the offering circular and related risks at invest.modemobile.com. Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.

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