Weekly Buzz: Green candles for turkey season
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance and community sentiment of the selected buzzing stocks on moomoo platform based on search and message volumes of this week! Answer the Weekly Topic question for a chance to win an award next week!
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Weekly Buzz: Green candles for turkey season
U.S. stocks crossed the line in the green Friday as the S&P 500 scored a third straight week of gains. Investors celebrated apparent signs of slowing inflation and got ready to kickstart the holiday season with Thanksgiving and Black Friday.
The $Dow Jones Industrial Average(.DJI.US)$ rose 45 points or 1.94% for the week. The $S&P 500 Index(.SPX.US)$ rose 98 points and 2.24% for the week, while the $Nasdaq Composite Index(.IXIC.US)$ gained 327 points and 2.37% for the week. The Nasdaq finished the week just three points off its 2023 high.
Crude oil rose 4% Friday, reversing a dramatic drop that reached -7% midweek but pulled back to -3%. OPEC blamed speculators and trading bots ahead of a price-setting meeting next week while defending global demand.
CPI numbers on Tuesday showed inflation slowed in October, and the market roared. Presidents Xi and Biden then met for the first time in a year in San Francisco at the APEC summit on Wednesday, shaking hands and talking positively. Still, Biden's later comments drove pessimism into U.S.-traded Chinese companies. Meanwhile, PPI data released on Wednesday showed the largest drop in producer prices in three years.
"You're not seeing broad-based selling pressure," Keith Lerner, co-chief investment officer at Truist Advisory Services, told MarketWatch. While the S&P 500's technology-related stocks were "taking a breather" after a strong rally this month, he said there's some "risk-on" trading in the market when looking at cyclical-oriented areas such as small-cap stocks and the S&P 500's energy, financials, and industrials sectors.
Let's dive into the weekly buzzing stock list this week:
1. $Tesla(TSLA.US$ - Buzzing Stars: ⭐⭐⭐⭐⭐
In recent news: Tesla reportedly faces a challenge in Sweden. Dockworkers there pledged on Friday to refuse to offload Tesla cars at any of the country's ports, extending their industrial action to support the EV maker's workers' demands for collective-bargaining agreements.
Tesla, co-established by billionaire Elon Musk, does not have production facilities in Sweden.
@70729741 : What will the outcome of Musk Tweet be?
2. $reAlpha Tech(AIRE.US$ Buzzing Stars: ⭐⭐⭐⭐
In recent news: ReAlpha Tech shares tumbled more than 20% Friday after the company filed a prospectus to offer up to 1.67 million common units at $12 apiece.
@DONTYOUTHINKABOUTIT : AIRE.US Offering will close so fast
3. $AMC Entertainment(AMC.US$ - Buzzing Stars: ⭐⭐⭐⭐
In recent news: The price trend for AMC Entertainment has been bearish lately, and the stock has lost 27.9% over the past week. However, the formation of a hammer chart pattern in AMC's last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.
@EasyGravy: durrrrrrrrrr amc 100k derrrrrrr
4. $NVIDIA(NVDA.US$ - Buzzing Stars: ⭐⭐⭐⭐
In recent news: Nvidia is still facing supply constraints amid strong demand as the company is set to report its Q3 results on Nov. 21, Wedbush said in a Friday note. "With NVDA still seemingly supply constrained through at least CQ2'24 despite a seemingly significant...ramp, and with constraints potentially lasting well beyond that point (depending on how quickly applications built on AI begin to get monetized), we see no reason to shift our positive view on the stock," Wedbush analyst Matt Bryson said.
@Maniac Fool : xtra large funds kept coming in… accumulating mode?
5. $Alibaba(BABA.US$ - Buzzing Stars: ⭐⭐⭐
In recent news: On Thursday, Alibaba dropped after posting quarterly earnings. The firm met revenue expectations for the latest quarter. It announced an annual dividend, but shares of the Chinese e-commerce giant fell after the firm announced it would no longer spin-off its cloud unit.
@Combo : Hope the champ who claims to be shorting BABA did not do it from start of market open. sSems like investors are buying back
6. $Sea(SE.US$ - Buzzing Stars: ⭐⭐⭐
In recent news: Citi analysts said in a research note this week that Sea Ltd.'s strategy to defend market share amid rising competition is the right approach, but a lack of clarity on investment plans could alienate investors, according to Dow Jones. Unclear direction on plans for gross merchandise value growth, along with a tolerance for turning back to loss-making, "suggest to us that there is lack of visibility on the effectiveness of the investment, and a brutal battle could be just starting," they wrote.
@W Chiang : Tiktok shop will be back
7. $Apple(AAPL.US$- Buzzing Stars: ⭐⭐⭐
In recent news: Apple's Effort to Replace Qualcomm Chip in iPhone Falls Further Behind' - Bloomberg
@FiveHundredCents: Apple has fallen behind in its multibillion-dollar effort to make a modem chip for the iPhone, stymied by the complexity of replacing an intricate Qualcomm(QCOM.US)$ component.
8. $NIO Inc(NIO.US$ - Buzzing Stars: ⭐⭐⭐
In recent news: Shares of electric-vehicle stocks are under pressure on Thursday. Tesla, Rivian, and Lucid Motors all experienced notable declines in a rollercoaster day, while several Chinese EV manufacturers also saw their stock prices take a hit. Tesla, saw its shares drop by 2.73%. Rivian Automotive suffered a steeper decline of 5.92%. Lucid Group advanced nearly 2%, after announcing a new SUV model and expected to land in late 2024. Li Auto, XPeng, and NIO inc were down 4.9%, 7.19%, and 8.44%, respectively.
@71698595 : new 52-week low coming down the line, lol.
9. $Amazon(AMZN.US$ - Buzzing Stars: ⭐⭐⭐
In recent news: Online shopping giant Amazon.com on Thursday announced a new partnership with Hyundai as part of an effort under which which auto dealers will be able to sell vehicles on Amazon's U.S. store, starting with vehicles by the South Korean automaker.
@NorcalSalsa : Selling cars?! Oh boy… another sector takeover in works by the gods of internet shopping
10. $Microsoft(MSFT.US$ - Buzzing Stars: ⭐⭐
In recent news: Microsoft has launched its first AI chip, the Maia 100, part of its Azure Maia AI accelerator series. The company also unveiled its first Arm-based Azure Cobalt central processing unit for general-purpose cloud computing. With these two chips, Microsoft joins rivals Alphabet and Amazon in developing custom chips to run their competing cloud platforms. The Maia 100 will be used for both cloud-based training and inferencing of AI models.
@ehttrader : Microsoft Stock: Still a "Strong Buy" at All-Time High
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Weekly Topic:
Will the end of the year bring a market rally this year? Is Santa Claus coming to town?
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
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ThirtyOne : Any meeting between the two at this point is beneficial in my opinion. The last thing we need is a war between world powers.
102362254 : I'm ready for anything, even Santa's gifts or Grinch's tricks. If the market goes down, I'll buy more stocks on sale. If there’s a year-end rally, I'll enjoy the ride. Right now, I'm making a list and checking it twice, looking for some nice deals before the new year.
mr_cashcow : Oh Yes it is that time of the year again!
Hohoho I choose to believe a green Santa Claus rally is coming to town!
So far Rudolph the 
-Nosed Reindeer didn't disappoint
ZnWC : First the geopolitical reason. Biden-Xi meeting at San Francisco had eased US-China tension with new cooperation in military and climate change. But there's little progress in economic cooperation especially the tariff imposed in electric vehicles. Chinese EV stocks saw a sell-off during the visit. Hamas-Israeli war and Russia-Ukraine conflict may continue til end of year with no hope of any cease fire.
Second economic reason. Several countries are imposing tariff of import and restrictions of export on certain commodities (rare earth, rice, palm oil etc). OPEC+ tried several attempts restrict supply to increase oil price. The above may trigger a large scale trade war and may spiral the global economy into further slowdown or worse recession.
The above may look gloomy but there's hope. World leaders are looking at ways to co-operate politically and economically. The recent APEC summit is one example. Despite the odds, technological advancement continue. Last year, I highlighted 3 sectors which may change the future: Artificial Intelligence, Supercomputing and 6G communication. If there synergy in any of the 3 sectors, the catalyst may bring big rally. We are now looking at the rise of AGI - Artificial General Intelligence.
I am looking forward for a rally by end of the year or early next year. There is uncertainty but catalysts to the stock market may emerge. The question is do we have the holding power.
Meme_Short_Queen : AMC will test the 7 dollar low and rebound
angel beginner ThirtyOne: at least if war happens it gives me an excuse for being such a failure at life
HuatEver : It is such an intriguing question to anticipate whether the end of the year will bring a rally. As investors we do hope the answer is a”YES”. However, irregardless of the outcome, I do look forward to picking up some bargainable blue chips stocks during the market’s fray.
小trader : Firstly, with the weaker economic data and labour data, interest rate is likely to have peaked the Feds seems to be at the end of their hiking cycle. Even if analysts are expecting the earliest interest rate cuts in June 2024, I think the the markets will likely improve from here on.
Secondly, with the improved US-China relationships, a few other sectors may benefit and might prove to be a surprise in 2024.
Lastly, earnings expectations seems to have improved across multiple sectors. This could provide further tailwind heading towards the end of the year.
cola1010 : Interest rate hikes, improving US-China ties, and strong profit expectations across industries all point to a favourable backdrop that might contribute to a market rally by the end of the year. While there are no assurances in predicting market moves, these indicators point to a more optimistic perspective, which may correspond to the Santa Claus bringing a rally to town. However, market dynamics can be influenced by a variety of unforeseen factors, thus prudence and agility are essential in managing prospective market changes.
Patrick Ting : We are seeing
1) inflation rate continued to fall,
2) labour market continued to ease
and these make it almost certain that there will not be another rate hike in the coming months to go.
These provided catalyst for the market to rally for the past 3 weeks.
The market are even now forecasting a rate cut by mid of next year. Key to note that rate cut may not necessary be what the investor wanted, as it usually comes after as a response from Fed to economic downturns.
A few risk we will need to monitor closely for the lagged effect of the current Fed fund rate.
1) Will consumer spending drop drastically after this leading to a deflation?
2) With piling debts, depleting savings, resumption of student loans, and the normalisation of wage growth, how much more spending power does the consumer still has? How sustained can it be?
3) More and more corporate debt will be maturing next year and will need to be refinance at the current higher borrowing cost.
We are even seeing some evidence in the weakening consumer spending from the retail giant Walmart and Target stating the fact that consumer spending continued to contract as consumers are becoming more cautious and selective in their spending.
Nevertheless, we are still one month away to conclude a Christmas year-end rally. However, given the current direction, the sentiment is still skewed towards the positive side while we as investors should also stay wary of the risk that might be hiding.
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