Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.
It was another green week on Wall Street as the Dow Jones Industrial Average climbed 1.27%, the S&P 500 ascended by 1%, and the Nasdaq Composite increased by 0.89%, marking the longest stretch of weekly gains since June for the S&P 500 and Nasdaq, and since April for the Dow.
The Federal Reserve's minutes revealed no significant surprises, maintaining a stance on restrictive interest rates and signaling no rate hikes for December, with the market anticipating four rate cuts by 2024.
Stability in U.S. private sector activity was seen in November, with a downturn in manufacturing offset by a notable rise in services, according to the S&P Global PMI. Employment trends show a contraction, but there is a movement towards easing price pressures, aligning with the Federal Reserve’s 2% inflation target.
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
"Amazon Stock Will Trade At $200 In 2024 As AI Accelerates Growth, Analyst Predicts," by Adam Eckert, reports on Evercore ISI analyst Mark Mahaney's prediction that Amazon.com Inc. AMZN stock will reach $200 in 2024, driven by AI's impact on growth.
"Nvidia Analysts Hail 'Jaw-Dropper' Q3 But Downplay China Setback To Focus On Bigger Picture," by Shanthi Rexaline, highlights analysts' positive reactions to Nvidia Corp.'s NVDA Q3 results, emphasizing AI's role in tech growth despite China-related setbacks.
"The Dog Is Ready To Bite: Crypto Analyst Foresees 23,000% Rally Repeat For Dogecoin Thanks To This Technical Signal," by Mehab Qureshi, reports on a crypto analyst's prediction of a potential 23,000% rally for Dogecoin DOGE/USD based on a technical signal.
For additional bullish calls of the past week, check out the following:
Apple, Google Wanted A 'Deep, Deep' Partnership And To Work 'As If We Are One Company
Jim Cramer Says He Was 'Premature' In Selling Bitcoin: 'If You Like Bitcoin, Buy Bitcoin'
The Bears
"UAW Strike Impact? General Motors Not Spending On Super Bowl Commercials," by Chris Katje, reports that General Motors Co GM is cutting costs by not investing in Super Bowl commercials, possibly due to the financial impact of UAW strikes.
"Netflix Faces Potential Lawsuit From 'Squid Game: The Challenge' Contestants Over On-Set Injuries," by Ananya Gairola, reports that contestants of a show are considering suing Netflix Inc. NFLX for injuries sustained during filming.
"Apple Taking 'Wrongful Advantage,' Sued By Venmo, Cash App Users For Peer-To-Peer Payment Fees," by Khyathi Dalal, reports a class action lawsuit against Apple Inc. AAPL by Venmo and Cash App users, alleging antitrust violations in mobile peer-to-peer payments.
For more bearish takes, be sure to see these posts:
Analyst Assess Implications Of Bristol-Myers Investigational Blood Thinner Post Bayer Setback
Short Seller Hedge Funds Rack Up $43B Loss In Recent Market Rally
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