Weekly Buzz | Seven Weeks Index Heaven
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!
Make Your Choice
Weekly Buzz | Seven Weeks Index Heaven
The Dow Jones Industrial Average made it through a slow trading day Friday for a third straight record close as the major U.S. equity indexes headed for their seventh consecutive week in the green. The S&P 500 Index broke its longest winning stretch since November 2017 with just a 0.01% drop.
All three indexes have gained over 2% this week. The $Dow Jones Industrial Average(.DJI.US$ rose 56 points Friday and 2.93% for the week to an all-time high of 37,305. The $S&P 500 Index(.SPX.US$ fell just 0.01% Friday but finished up 2.49% for the week, within a hundred points of it's all-time high at 4,719. The $Nasdaq Composite Index(.IXIC.US$ rose by 52 points Friday and 2.85% for the week to 14,813. The small-cap $Russell 2000 Index(.RUT.US$ was up more than 5.55% for the week early Friday but settled below 2,000.
Stocks exploded after the Wednesday FOMC meeting announcement that rates were predictably unchanged, and that the market could expect three or more rate cuts in 2024. Loan-dependent sectors like housing, auto, banking, and solar were launched on Thursday.
Oil fell before the FOMC results but came back to above $70 a barrel at week's end. Treasury bonds and the U.S. Dollar tumbled throughout the week, the $U.S. 10-Year Treasury Notes Yield(US10Y.BD$ dropping below 4 in the waning hours of Friday trading.
Matt Weller, global head of research at Forex.com told MarketWatch that, although seven-week winning streaks are rare, they typically have arrived in the middle of bull markets.
"After a huge rally through the middle of the week, it's a foregone conclusion that the S&P 500 will finish higher for the seventh consecutive week, a relatively rare streak historically," Weller said.
Let's dive into the weekly buzzing stock list this week:
Wednesday, Tesla recalled 2 million vehicles, essentially all the Tesla vehicles on U.S. roads, after the National Highway Traffic Safety Administration posted a recall notice to its website impacting the four different Tesla models made between 2012 and 2023.
70498940 : Might be too early but don’t think so…… not getting off this plane
While chip stocks soared at the beginning of the week, Nvidia fell but finished up 2.9% by Friday. The early week drop followed Oracle's earnings, which showed one of the largest chip buyers felt declining revenues after a cloud slowdown this quarter.
70040956 :Intel unveils new AI chip to compete with Nvidia and AMD
Tuesday, AMC fell 5% after the company completed a 48 million share equtiy offering at a total of $350 million.
72772570 : Lets go!! Remeber about 4-5 months ago on a Friday evening when we rallied 110%? We need another one of those nights.
AMD stock rose all week, after it launched its artificial chip MI300X, rivaling competitor Nvidia. The firm expects the data center AI chips market to reach $400 billion by 2027. The firm also announced a focus on new data centers and the telecom sector in India for growth opportunities, starkly contrasting to Nvidia, which focuses on China, the U.S., Japan, and Vietnam.
70040953 : AMD Partners With CHORD India and Udayan Care Foundation To Support Women and Girls on a Path to Employment
Nio shares traded lower Tuesday, facing selling pressure after new data from the China Passenger Car Association showed that Nio ranked outside the top 10 in China EV sales in November. Nio reported deliveries of 15,959 vehicles last month, up 12.6% yearly. However, the EV maker is well behind in the Chinese EV market.
102511708 : 8 is coming !!!!!!!!! now is the time
Apple shares closed at a record high of $197.96 on Wednesday, rising by 1.7% due to a broad rally in technology stocks. By Friday, the stock was up 52% so far in 2023, with a market capitalization of around $3.08 trillion, solidifying its position as the world's most valuable company. Analysts at Wedbush and Citi attributed the surge to the anticipation of the Federal Reserve cutting interest rates as inflation slows.
102114392 : waiting to break 200
MicroAlgo, a "lightweight central processing algorithm" company, dropped 25% throughout the week, even after pulling back the fall by 25% on Wednesday.
104054938 : All 22% gain almost wipe out 😂 what a joking stock! Good luck to those that still trust China company
C4 Therapeutics, a small pharmaceutical company, announced a new research license on Tuesday, pulling into an amazing 530% price jump before returning to a 280% gain. The price rose from about $1 to just under $5.
103188950 : is not going up as expected
Crypto stocks faced volatility during the week as bitcoin rose and fell. The miner Bitfarms followed most intensely, climbing 18% on Tuesday to Bitcoin's 2% gain before retracting to a 14% rise.
71726950 : Shares of Several Crypto-related Stocks Are Trading Higher Amid Strength in Bitcoin
Microsoft, unlike the rest of the market, grew before the FOMC meeting decision, and fell afterward. On Thursday, rumors of OpenAI's newest edition of ChatGPT 4.5 were dashed after a simple 'nah' from founder and Microsoft favorite SEO Sam Altman.
103859665 : Watch out for the bull trap today… it’s the triple witching hour today.. so watch out
Thanks for reading!
All comments, links, and content posted or shared by users of the community are the opinion of the respective authors only and do not reflect the opinions, views, or positions of Moomoo Financial Inc., Moomoo Technologies, any affiliates, or any employees of MFI, MTI or its affiliates. Please consult a qualified financial professional for your financial planning and tax situations.
Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
Notice:
A reward will be sent to you this week. Please feel free to contact us if there is an issue.
Weekly Topic
What is your favorite lesser-known stock or industry to watch while the market blows up?
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.
Disclaimer:
Any app images provided are not current, and any securities are shown for illustrative purposes only.
This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Community Official Account
Bringing you insights, inspiration and the hottest content.
149KFollowers
1199Following
59KVisitors
Follow
102362254 : Hudson Technologies (HDSN) is my favourite lesser known stock to watch while the market blows up. Market cap: $587.89M, PE ratio 11.62, EPS 1.12. They're into eco-friendly coolants and might benefit from climate change and El Niño, boosting AC demand. With solid growth potential and a competitive edge, they're onto something in the refrigerant industry!
小trader : In the current market, Hesai Technology stands out with its attractively low valuation, possibly influenced by US-China tensions and China's economic slowdown. Despite these challenges, Hesai's prominence in LiDAR technology for autonomous vehicles positions it as a key player in the evolving mobility sector. The company's noteworthy technological advancements may contribute to its resilience. Looking ahead, the LiDAR industry, including Hesai, could gain government support, especially as China aims for technological leadership in autonomous vehicles by 2024.
103290043 : Nice
cola1010 : In the market, there are some lesser-known companies like Enphase Energy (ENPH) that focus on solar power technology. They create unique products for solar energy systems. These companies might not be as famous, but they could hold potential for investors. Besides Enphase, there are other smaller companies working on solar or clean energy that might be interesting to follow. Keeping an eye on these lesser-known companies in the clean energy sector could be a smart move for those interested in supporting eco friendly solutions while possibly earning profits too.
mr_cashcow : $UiPath (PATH.US)$ seems to be doing rather well