Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.
The three major stock indexes notched weekly gains, with the Dow Jones breaking a 13-day winning streak, a record since 1987, finishing 0.66% higher, while the S&P 500 and Nasdaq Composite rose by 1.01% and 2.02% respectively. Despite a dip on Thursday, the indexes rallied on Friday, closing the week positively.
In response to a persistent core inflation rate of 4.8%, the Federal Reserve on Wednesday raised the federal funds rate to between 5.25% and 5.5% — the highest since 2001 — with the possibility of another hike in September. Despite these changes, the U.S. economy is showing resilience with a surprising 2.4% annual growth in Q2 2023, offering hope to evade a potential recession.
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
Cybertruck, Tesla's 'Home Run?' Analyst Sees EV Pickup As 'Rolling Billboard' That Will 'Really Catapult' Stock," by Shanthi Rexaline, discusses how Gary Black from Future Fund views Tesla, Inc.'s TSLA Cybertruck as a potential game-changer that could significantly boost the company's stock.
"Apple Bets On Vision Pro To Repeat iPhone Success, Serve As Game-Changer for AR/VR Industry," by Anusuya Lahiri, highlights how Apple Inc. AAPL is banking on its Vision Pro headset to revolutionize the AR/VR industry, much like the iPhone did for mobile computing.
Macro Guru Raoul Pal Predicts Elon Musk Will Use Dogecoin To Make 'Global Payment System' For Creators On X," by Mehab Qureshi, discusses how Elon Musk may use Dogecoin DOGE/USD for global payments to content creators on the newly rebranded Twitter platform, "X."
For additional bullish calls of the past week, check out the following:
Microsoft, Apple, And Coinbase Among 7 Long-Term Stock Investment Favorites Of Benzinga Users
The Bears
Cathie Wood Is Losing Hope With Chinese Stocks: What's Causing The Rift?," by Shanthi Rexaline, reveals that Cathie Wood's Ark Innovation ETF ARKK has exited Chinese stocks, including Alibaba Group Holding Ltd BABA, amid regulatory crackdowns in China.
"Nikola Says Truck That Caught Fire Last Month Went Up In Flames Again," by Anan Ashraf, reports that a Nikola Corp. NKLA truck, which had previously caught fire, reignited at the company's Phoenix headquarters, with investigations into the cause ongoing.
What The AMC Entertainment Court Ruling Means For Meme Stock: Risk Of 'Running Out Of Cash In 2024 Or 2025'," by Chris Katje, explains that a court ruling against AMC Entertainment Holdings Inc AMC could increase the risk of the company running out of cash by 2024 or 2025 if it fails to raise additional funds.
For more bearish takes, be sure to see these posts:
Netflix Lowers Ad Prices For Ad-Supported Business After Microsoft Pact Fails To Deliver
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