Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
The S&P 500 and Nasdaq experienced their largest weekly declines since April, falling by 1.97% and 3.65%, respectively, with the Nasdaq breaking a six-week winning streak. Conversely, the Dow rose by 0.72% and the Russell 2000, focused on small-cap stocks, increased by 1.68%.
Federal Reserve Chair Jerome Powell highlighted that recent inflation data has increased confidence in achieving the 2% target, prompting investors to bet on a rate cut in September, as indicated by CME Group’s FedWatch tool.
Additionally, unemployment claims surged to 243,000 with continuing claims reaching 1.867 million, the highest since November 2021, suggesting a cooling labor market and boosting hopes for rate cuts.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.
The Bulls
“AI Infrastructure CEO Says Customers Are Showing ‘Relentless’ Demand For Nvidia Chips And Nvidia Chips Only: ‘They Do Not Want The Other Stuff,'” by Adam Eckert, details CoreWeave CEO Mike Intrator‘s assertion that demand for Nvidia Corp. NVDA AI chips is overwhelmingly strong, as clients exclusively prefer Nvidia over other options.
“Dogecoin Could Reach A New All-Time High ‘By The End Of August’…If This Historical Pattern Holds,” by Khyathi Dalal, reports that Dogecoin DOGE/USD may hit a new all-time high by the end of August if it follows historical patterns, with data showing significant increases in large transactions and exchange netflows.
“Prominent Crypto Analyst Says Ethereum ‘Will Reach A New All-time High Faster Than The Rest,'” by Aniket Verma, reports that cryptocurrency analyst Michaël van de Poppe predicts Ethereum ETH/USD will achieve a new all-time high before other cryptocurrencies due to its fundamentally strong ecosystem and low valuation.
For additional bullish calls of the past week, check out the following:
Small Cap Stocks Are Having A Moment: Russell 2000 Notches Best 5-Day Rally In Over 4 Years
Why BlackRock’s Larry Fink Believes ‘Everyone’ Should Take Another Look At Bitcoin
SoFi Technologies Shares Surge Amid Optimism On Fed Policy And Trump-Related Political Developments
The Bears
“Trump-Vance Administration Will Be ‘Terrible’ For Tesla, Says Bear: Elon Musk ‘Has Completely Alienated Most Of His Buying Base,'” by Shanthi Rexaline, highlights Tesla bear Mark Spiegel‘s concerns that a Trump-Vance administration would harm Tesla Inc. TSLA by eliminating EV mandates and alienating the company’s predominantly Democratic customer base.
“Microsoft-CrowdStrike Issue Caused ‘Largest IT Outage In History,’ Showing How Much We Depend On A Handful Of Companies,” by Rounak Jain, reports that a software update from CrowdStrike Holdings Inc. CRWD caused a massive IT outage impacting Microsoft Corp. MSFT systems globally, highlighting the world’s dependence on a few major tech companies for critical infrastructure.
“Trump ‘For TikTok,’ Competition To Mark Zuckerberg: ‘If You Don’t Have TikTok, You Have Facebook And Instagram,'” by Chris Katje, reports that former President Donald Trump now supports TikTok, viewing it as necessary competition to Meta Platforms Inc. META and criticizing CEO Mark Zuckerberg for the social media giant’s influence and his personal ban from Facebook and Instagram.
For more bearish takes, be sure to see these posts:
SunPower Shares Plummet Amid Operational Pauses, Analyst Downgrade
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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