Happy Friday, Zingernation! How do the rich get richer? By reinvesting their returns? By buying all their Polo pullovers from T.J.Maxx? Or… by paying a lower tax rate than the working class? 

–Aaron Bry and Nic Chahine

Today’s Price Action:

$SPY: +0.19%
$QQQ: +0.29%
$DIA: +0.35%

Plus, 9 in 10 Americans believe we’re experiencing a mental health crisis — but one company is providing relief.

And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

New Tariffs On China's EV, Solar Sectors 'Could Cause More Severe Damage'

Briefly: The Biden administration is preparing to announce significant changes to the U.S. tariff policy on targeted Chinese goods as early as next week.

Biden’s Plan: This move will reportedly hone in on strategic sectors such as electric vehicles, batteries and solar cells, while maintaining the bulk of tariffs established under former President Donald Trump starting in 2018.

Back Up: The upcoming decision marks one of President Joe Biden‘s major steps in the ongoing “trade war” with China, following his recent proposal to increase tariffs on Chinese steel and aluminum.

Trump’s Plan: Trump has even promised a more severe approach, proposing a 60% tariff on all Chinese imports if he returns to office.

But Wait: Financial institutions have expressed concerns. Fitch Ratings predicts a significant increase in U.S. tariffs could decrease U.S. and global GDP, while Goldman Sachs’s Hui Shan economist observed the overall U.S. trade deficit and Chinese surplus continued to grow despite Trump’s tariffs.

So What? Chinese domestic stocks ended flat on Friday, as the bullish sentiment that had been driving the equity market in the world’s second-largest economy faded following news of increasing tariff risks.

Click here to read more.

PRESENTED BY ELEVATE HEALTH AND WELLNESS

90% Of Americans Believe We Are Experiencing A Mental Health Care Crisis - Elevate Health And Wellness Is Providing Relief

The mental health crisis in the United States has been exacerbated by the global pandemic, with more Americans seeking mental health care than ever before. Since the onset of the pandemic, 38% more Americans are participating in mental health care treatment of some kind, whether that be inpatient or outpatient services. Meanwhile, a recent poll done by CNN and the Kaiser Family Foundation showed that an overwhelming majority of Americans, roughly 90%, believe we are currently experiencing a mental health care crisis. 

Elevate Health and Wellness, a clinic in Westport, CT, is revolutionizing the industry by providing comprehensive and compassionate treatment services for adolescents and adults

Click here to learn more about how Elevate stands apart from traditional inpatient services!

ONE TRADE IDEA FOR NEXT WEEK

AI 'Tidal Wave' Is Well Underway, Analyst Says

Briefly: The recent earnings season has made it abundantly clear that the AI revolution is not just knocking on the door but has forcefully entered the tech world.

What Happened: Impressive results from tech giants such as Microsoft, Alphabet and Amazon underscored this transition, according to Wedbush analyst Daniel Ives.

What He Said: These companies have reported “eye-popping capital expenditure numbers,” initiating an “AI tidal wave” in software and cloud development driven by generative AI.

What Next: “The next phase of AI spending is now on the doorstep for the likes of Salesforce, MongoDB, Oracle, ServiceNow, Palantir Technologies, Snowflake and many others,” Ives wrote. For more on how those stocks could ride the tidal wave, click here.

PRESENTED BY ELEVATE HEALTH AND WELLNESS

90% Of Americans Believe We Are Experiencing A Mental Health Care Crisis - Elevate Health And Wellness Is Providing Relief

The mental health crisis in the United States has been exacerbated by the global pandemic, with more Americans seeking mental health care than ever before. Since the onset of the pandemic, 38% more Americans are participating in mental health care treatment of some kind, whether that be inpatient or outpatient services. Meanwhile, a recent poll done by CNN and the Kaiser Family Foundation showed that an overwhelming majority of Americans, roughly 90%, believe we are currently experiencing a mental health care crisis. 

Elevate Health and Wellness, a clinic in Westport, CT, is revolutionizing the industry by providing comprehensive and compassionate treatment services for adolescents and adults

Click here to learn more about how Elevate stands apart from traditional inpatient services!