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Start your day with a quick market recap and the latest public market updates in Technology, Healthcare, and Energy.

📊 Market Snapshot

💰Earnings

THE Headlines

🖥️ Technology

• Chinese EV Manufacturers Report Record Deliveries

  In November, Chinese electric vehicle companies NIO, XPeng, and Li Auto achieved record monthly deliveries, with expectations for even higher numbers in December. NIO delivered 20,575 vehicles, Li Auto 48,740, and XPeng 30,895, marking significant year-over-year increases.

• Australia Enacts Social Media Ban for Under-16s

  Australia has passed a landmark law prohibiting social media use for individuals under 16, aiming to protect children from online harms. While companies face fines for non-compliance, there are no penalties for parents or teenagers. Tech firms like Meta and TikTok have raised concerns about privacy and implementation.

🧬 Healthcare

• Medicare and Medicaid Expansion for Anti-Obesity Drugs
  The Biden administration proposes covering anti-obesity drugs like Wegovy under Medicare and Medicaid, potentially benefiting 7.4 million recipients. While it may raise federal spending by billions, advocates see it as recognizing obesity as a chronic illness. The plan faces likely opposition from the incoming Trump administration.

• ASL Interpreter Services Partnership
  The American School for the Deaf and Hartford HealthCare partner to provide in-person and remote ASL interpreting, assistive devices, and note-takers, ensuring accessible healthcare for deaf and hard-of-hearing patients at no cost.

⚡ Energy

• European Gas Traders Anticipate Higher Summer Prices

  Traders are paying a record premium for European gas for the upcoming summer, an unusual trend driven by high costs of refilling storage facilities as Europe reduces reliance on Russian gas supplies. This shift reflects expectations of heavy winter storage depletion and challenges in summer restocking.

• Nuclear Energy Gains Support from Tech Giants

  Companies such as Amazon and Alphabet are investing in small nuclear plants to power AI data centers, boosting the stock values of nuclear startups like Oklo and NuScale Power. States including New York and Texas are exploring advanced nuclear technologies to enhance clean energy transitions and address electricity demands.

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The Read Morning Team