The final trading day of the Biden era is headed for muscular gains on Friday as optimism about President-elect Trump’s inauguration and the policy changes that will follow coincided with impressive corporate gains and a more optimistic interest rate outlook.

The Dow Jones Industrial Average (^DJI) gained 1.1% while the S&P 500 (^GSPC) increased by 1.2%, with a decrease lost day for the major axes. The high-tech Nasdaq Composite (^IXIC) gained more than 1.7% as Nvidia (NVDA) and Tesla (TSLA) shares returned to the green.

Stocks are on track for big weekly wins after a big rally on Wednesday. And the 10-year Treasury yield (^TNX) retreated about 4.6% on Friday.

These are some of the stocks leading Yahoo Finance trend tickers page during morning trading on Friday.

GOAL (TARGET): Shares of the social media platform rose more than half a percent Friday morning after a U.S. Supreme Court decision that upheld the law could see its rival, the short-form video app TikTok, banned in the US. The TikTok ban would go into effect this Sunday, January 19, unless Chinese-owned parent company ByteDance divests from the platform.

Novo Nordisk (NGO): The drug company came under pressure after some of its drugs were included in a list of Medicare price negotiations in 2027. Novo Nordisk’s (NGO) The GLP-1 weight-loss drugs Ozempic and Wegovy were among the names. Shares fell more than 4%.

Intel (INTC): Shares of the embattled tech giant rose 8% Friday afternoon as speculation circulated online that the company had become a takeover target, according to a report by semi accurate friday Intel shares have lost more than half their value over the past year.

Coinbase (COIN): The country’s largest crypto platform is being boosted once again by rising bitcoin prices. The price of bitcoin (BTC-USD) broke above $100,000 again on Friday following reports that President-elect Donald Trump plans to issue an executive order elevating crypto as a policy priority.

The Centers for Medicare and Medicaid Services (CMS) released its second round of drug negotiation targets, a list of 15 drugs under Medicare Part D, including Novo Nordisk’s (NGO) successful GLP-1, reports Yahoo Finance Anjalee Khemlani.

Novo was trading down 4% on Friday’s news.

Diabetes drug Ozempic and weight loss drug Wegovy top the list, along with a number of others such as Merck’s (MRK) diabetes medication Janumet.

Read more about the next round of drug price negotiations here.

It’s unclear whether the incoming Trump administration will stick to that list and process or change it after taking office on Jan. 20.

Novo Nordisk currently has 55% of the GLP-1 market and made $50 billion from the two drugs last year in the first three quarters alone.

The US Supreme Court has upheld a law banning TikTok from the US starting Sunday unless it is sold to an owner not controlled by a foreign adversary, Yahoo Finance reports. Alexis Keenan i Daniel Hawley.

Friday’s ruling creates new uncertainty for the Chinese app used by 170 million Americans, but could be a long-term boon for the social media’s ad-money rivals like Meta (TARGET).

The court sided with the US government’s argument that the ties between ByteDance, the parent of TikTok, and Beijing presented a national security threat that allowed Congress to require its sale.

TikTok had argued that it was entitled to First Amendment protections and that its proprietary algorithm was in fact editorial expression that qualified as speech.

The court’s decision likely leaves the fate of TikTok in the hands of Donald Trump, who promised to do so “Meet TikTok” and had asked the court to suspend the divestment deadline. The president-elect takes office on January 20, a day after the ban takes effect.

Read more here.

A renaissance in tech stocks led to a jump on Wall Street on Friday as investors enjoyed a week of favorable inflation readings and impressive business earnings, shifting market sentiment toward optimism as the Federal Reserve consider their rate setting policy.

The Dow Jones Industrial Average (^DJI) gained 0.7%, while the S&P 500 (^GSPC) rose 1%, with a drop lost day for the major axes. The high-tech Nasdaq Composite (^IXIC) gained more than 1.6% as Nvidia (NVDA) and Tesla (TSLA) shares returned to the green.

Markets have turned upbeat as investors take stock of big bank earnings and inflation readings in recent days, which have bets for resurrected interest rate cuts. Stocks are on track for big weekly wins after a major rally on Wednesday, while the 10-year Treasury yield (^TNX) retreated to 4.6% on Friday.

Housing starts increased in December, boosted by the reactivation of multi-family construction.

Data from the Census Office showed that housing rose 15.8% in December to an annual rate of 1.49 million, which was higher than economists’ expectations for an annual rate of 1.32 million.

Single-family homes made modest progress. Construction rose 3.3% to an annualized rate of 1.05 million, the strongest pace since February 2024. Meanwhile, multifamily housing construction grew nearly 62%.

“Housing starts soared at the end of the year, but that doesn’t mean the country is out of the woods when it comes to the problems in the residential housing sector,” wrote Christopher Rupkey, chief economist at FWDBONDS. after publication.

“There is still not enough housing in the country and residential housing construction remains historically depressed,” added the economist.

So far, new construction in 2024 was the slowest it has been since 2019, according to Bloomberg. Despite the increase in construction, builders are facing high mortgage rates. Freddie Mac said mortgage rates rose to 7.04% this week, the highest since May 2024. Home loan rates tend to track U.S. Treasury yields, which had risen after of the strong employment data.