The S&P 500 hit a new record high on Friday with impressive tech earnings and a strong January jobs report, culminating in a buoyant week for the stock market. This marked the fourth consecutive week of gains after a faltering start to the year for the S&P 500, Nasdaq, and Dow.
Fed Chair Jerome Powell’s suggestion that a March interest rate cut is likely off the table, following the strong employment growth and non-farm payrolls jumping to 353,000 in January, added complexity to the Federal Reserve’s decisions on interest rates as they aim to reach a 2% inflation target.
Benzinga, a leading financial news provider, provided insights into the stocks most popular with investors over the past week. Here are some of the top stories that attracted investors’ attention.
The Bulls
“Meta Platforms Analysts Raise Expectations After Q4 Earnings Beat: ‘Growth, Profits, Buyback & Dividends All In One'” by Chris Katje, underscores Meta Platforms’ strong Q4 performance and optimistic analyst outlooks. The company’s significant advertising strength, AI advancements, and impactful shareholder returns have contributed to a positive market sentiment.
“‘DOGE Is Gonna Pop’: Crypto Analyst Predicts Dogecoin On The Verge Of A Price Jump” by Mehab Qureshi, reports cryptocurrency analyst Muro forecasting a potential 6% increase in Dogecoin’s value, influenced by developments on the X app, highlighting the evolving landscape of the crypto market.
“AMD CEO Highlights Huge AI Opportunity: ‘It’s Going To Change Everything We Do'” by Adam Eckert, details Advanced Micro Devices Inc. CEO Lisa Su’s optimistic outlook on AI’s transformative potential, signaling resilience amidst the company’s stock dip post-Q4 earnings, reminding investors of the company’s long-term vision.
For additional bullish calls of the past week, the market also witnessed notable developments such as PayPal’s stock surge, the potential of Bitcoin reaching $170,000, and Apple’s innovation with the “mind-blowing” Apple Vision Pro.
The Bears
“‘Jaw Dropper:’ Tesla Analysts, Investors Unpack Fallout From CEO’s $55B Pay Plan Collapse While Musk Laments ‘Parasitic Load’ Of Being A Public Company” by Shanthi Rexaline, delves into the repercussions of a court ruling against Elon Musk’s lucrative compensation plan at Tesla, Inc., stirring uncertainty and strategic reevaluation among stakeholders, painting a contrasting picture to the generally positive market sentiment.
“Tech Giants’ Market Concentration Echoes Dot-Com Bubble Peak, Analysts Warn” by Piero Cingari, reveals JPMorgan’s analysis of current market dynamics resembling the dot-com bubble, with top tech stocks like Apple Inc. and Amazon.com, Inc. dominating indices, serving as a cautionary reminder of historical market cycles and potential vulnerabilities.
“Short Seller Does Victory Lap After Amazon Deal Dies — What Happened To iRobot?” by Natan Ponieman, details iRobot Corporation’s stock plunge and restructuring following the collapse of its merger with Amazon, reflecting regulatory concerns and a short seller’s vindication, causing volatility in the stock market.
For more bearish takes, the market experienced the downturn of Bloom Energy due to low visibility, discussions around the Federal Reserve waiting to see “the whites of 2% inflation’s eyes” before cutting rates, and Toyota facing suspension shock following the Daihatsu debacle.
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