Bitcoin rebounds to $91K, Rivian price target lifted on AI plans

First up, let's take a look at Bitcoin. It is climbing today rebounding after dipping below 90,000 earlier in the week as crypto traders weigh the Fed's rate cut on Wednesday. Bitcoin has been stuck in a range really from 85,000 to 95,000. It's been stuck there for about a month, following a major liquidation wave in October. And analysts say the market is testing the strength of its modest uptrend with 88,000 flagged as a key support level.

Next up is Rivian, the EV maker riding higher today after Needham sharply raised its price target to $23 from $14, citing the company's momentum in AI and autonomous driving. The firm says Rivian's deep vertical integration gives it an edge as vehicles become increasingly software defined, allowing faster iteration in driver interface and autonomy features. And need them also points to strong liquidity with more cash and debt and growing enthusiasm for Rivian's upcoming

R 2 model ahead of its 2026 launch. But it is a little mysterious why the stock is up just that much. It's up 18% right now. It fell yesterday after saying it was developing its own in-house chips for its vehicles um as part of a some investor presentation. So, interesting it fell about 6% yesterday, but it is more than making up for those declines today.

And finally UBS. Those shares are rising to a 17-year high after a group of senior Swiss lawmakers proposed easing the tougher capital rules that the government wants to impose on the bank. The recommendations would allow UBS to use um AT1 bonds rather than pure equity to meet capital requirements for its foreign subsidiaries. That would significantly lower its funding cost. And lawmakers also suggested letting UBS continue counting some software assets and tax credits toward those requirements.

Investors see the proposal as a path towards a more favorable compromise, sending that stock higher. Uh it was up higher by as much as 5% to its highest level since 2008, right now up a little less than 2%.