After the Saturday Night Live monologue from Elon Musk, many viewers in the U.S. saw ads from Ford Motor Company (F) and Lucid Motors, an electric vehicle startup going public in a SPAC merger with Churchill Capital Corp IV.

South Korean battery maker LG Chem and rival SK Innovation Co reportedly have settled their trade secret fight. 

The EV market is developing full speed ahead across the globe, with Europe and China being already ahead of the US in the race towards an all-electric future. But Biden is making a big push to get Americans to buy EVs.

Auto manufacturers are one of the sectors with the most upside in 2021 from a cyclical and secular perspective. Auto sales are due for a strong rebound, while electric vehicles (EV) and autonomous vehicles (AV) will drive long-term growth.

Stocks trade higher whilst gold is under pressure as Biden is set to announce a $2 trillion stimulus package.