Final rule allowing alternative investments including crypto assets to be included in U.S. 401(k) retirement plans has been submitted to the White House for review.

According to data from the BIT Stock Platform, the Nasdaq’s gains expanded to 2%, and the S&P 500 rose 1.1%. The Philadelphia Semiconductor Index gained 6.8%, with AMD (AMD.O) up 13% and SanDisk (SNDK.O) rising 12%. Nvidia (NVDA.O) saw its stock price climb as much as 7.3%, after falling 9.3% on Thursday.

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has withdrawn a 2020 proposal related to the Travel Rule. The proposal originally required financial institutions and crypto firms to collect identifying information of individuals involved in specific transfers. FinCEN said Friday that relevant authorities believe the convertible virtual currency (CVC) industry has undergone significant changes since the proposal was released.

Preliminary data shows U.S. November one-year inflation expectation at 4.3%, versus a consensus forecast of 4.7% and the prior reading of 4.70%.

According to data from the BIT Stock Platform, US stocks opened with a broad rebound in Neocloud, semiconductor, optical communication, and storage sectors. Neocloud stocks led the rally, with IREN up 19.97%, Cipher Digital (CIFR) rising 11.71%, Hut 8 (HUT) up 10.10%, Nebius (NBIS) up 9.00%, Applied Digital (APLD) up 8.93%, and Core Scientific (CORZ) up 7.34%. Among semiconductor stocks, Lam Research (LRCX) gained 10.25%, AMD rose 8.72%, TSMC (TSM) up 7.43%, KLA (KLAC) up 7.09%, Applied Materials (AMAT) up 7.07%, and NVIDIA (NVDA) up 6.19%. Optical communication-related stocks strengthened, with Coherent (COHR) up 11.09%, Ciena (CIEN) up 8.68%, Astera Labs (ALAB) up 8.56%, Credo (CRDO) up 7.86%, Lumentum (LITE) up 6.86%, and Marvell Technology (MRVL) up 6.76%. Storage stocks also climbed, with SanDisk (SNDK) up 9.12%, Micron Technology (MU) up 6.95%, Seagate Technology (STX) up 4.95%, Western Digital (WDC) up 4.10%, and SK Hynix (SKHY) up 3.39%.

According to CNN, former US President Donald Trump’s first television interview since the Republican Party’s midterm election defeat is scheduled to be recorded on Friday, with “60 Minutes” reporter Ross Douthat as the interviewer. The interview will air on Sunday evening, marking Trump’s first in-depth sit-down since the Republicans suffered a sweeping election loss on Tuesday. A CBS News source confirmed the arrangement but noted the interview has not yet been formally conducted. The White House’s Friday-released schedule shows Trump will take part in a pre-recorded interview at 10:30 a.m. ET. Trump closely follows “60 Minutes”: he occasionally posts criticism of the program on Truth Social and is well aware of its strong viewership. Last Sunday’s episode drew an average of 10 million viewers, a number partly driven by the preceding NFL game.

According to data from Vanda Research, U.S. retail investors shifted sharply to buying near the close on Thursday, with net purchases exceeding $100 million in the final 10 minutes. However, retail investors still recorded a net sell of $151 million for the full day by market close. About an hour before closing, retail selling volume was on track to hit the worst single-day sell-off since the early pandemic panic. For comparison, the record single-day net sell by retail investors during the 2020 pandemic period stood at $502 million.