Weekly Buzz: Stocks pulled through a volatile week
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Weekly Buzz: Stocks pulled through a volatile week
US stocks once again closed little changed Friday as investors weighed positive inflation signs from the latest producer price index against the warnings gleaned from banks and other companies which were among the first to report fourth-quarter earnings. The week was tumultuous, with Bitcoin ETF approvals Wednesday following shortly after a hacked SEC account announced the news too early.
For the week, the $S&P 500 Index(.SPX.US$ closed up 2.03%, while the $Nasdaq Composite Index(.IXIC.US$ ended up 3.19%. The $Dow Jones Industrial Average(.DJI.US$ rose 0.41%.
The largest news for the week was the Wednesday SEC approval of 11 Bitcoin Spot ETFs. Bitcoin stocks faced heavy volatility as the underlying cryptocurrency climbed 3% before settling down. President of the SEC Gary Gensler released a statement confirming the news, saying the courts forced him to approve the ETFs. He said when the SEC had failed to give a good reason to halt the listings, the court decided to push the SEC for approval.
CPI data frightened the market Thursday after coming in 0.1% higher for the month than expected.
Oil Fell during the week, but jumped 3% Friday after the U.S. and UK launched strikes in Yemen in retaliation of Houthi Rebel attacks on Red Sea shipping lines.
Friday, banks and financial stocks kicked off the earnings season with confusing results. While $JPMorgan(JPM.US$ reported its highest-ever annual profit in 2023, Chairman and Chief Executive Officer Jamie Dimon cited economic risks that could slow progress in the US Federal Reserve's fight to cool inflation.
"It is important to note that the economy is being fueled by large amounts of government deficit spending and past stimulus," Dimon said in the earnings release Friday.
Dimon cited risks from the Fed's quantitative tightening, draining over $900 billion in liquidity from the financial system annually. Another risk is the ongoing wars in Ukraine and the Middle East that, he said, have the potential to disrupt energy and food markets, migration, and military and economic relationships, apart from their "dreadful human cost."
Let's dive into the weekly buzzing stock list this week:
1. $Tesla(TSLA.US$ - Buzzing Stars: ⭐⭐⭐⭐⭐
Continued attacks on shipping vessels in the Red Sea will impact one of the largest automotive companies worldwide. On Thursday, Tesla said it is suspending most car production at its Giga Berlin factory for two weeks, according to a report from Reuters.
@Silverbat : Buy dips and put away
2. $Bit Brother(BETS.US$ - Buzzing Stars: ⭐⭐⭐⭐
Bitcoin and crypto-related stocks tumbled Friday and markets continued to shrug off Thursday’s long-awaited premiere of U.S. spot bitcoin ETFs. $Bitcoin(BTC.CC)$ sank as much as 7.3% to its low for the day so far just before noon ET to trade at $43,146.37, while more than a dozen bitcoin-related stocks fell sharply as well. $Bit Brother(BETS.US)$ was off 11.9%.
@HotShot369 : I see a rise coming soon next week 0_0
3. $NVIDIA(NVDA.US$ - Buzzing Stars: ⭐⭐⭐⭐
Nvidia jumped 11% this week to start 2024, with the stock breaking out of a more than six-month trading range. Howard Smith from the Motley Fool wrote that this week's gains come after the company made a splash at both the J.P. Morgan Healthcare Conference and the CES (formerly known as the Consumer Electronics Show) in Las Vegas.
@102125877: Rally to be continue.
4. $AMC Entertainment(AMC.US$ - Buzzing Stars: ⭐⭐⭐⭐
The movie theater chain's stock hit multiple record lows this week, down more than 98% from its all-time closing high of $339.05 on June 2, 2021, a far cry from its meme-stock heyday
Shares of AMC Entertainment Holdings Inc. continued their slide Thursday and Friday, hitting another record-low close and extending their losing streak to four days.
@73039003 : Is this the bottom?
5. $Marathon Digital(MARA.US$ - Buzzing Stars: ⭐⭐⭐
As Bitcoin rose on ETF news Wednesday, Marathon Digital and other crypto sector stocks climbed, but following the news, Bitcoin and crypto stocks faced high volatility and began to sink. Mara fell 15% Friday alone.
@70959052 : trash
6. $NIO Inc(NIO.US$ - Buzzing Stars: ⭐⭐⭐
Shares of Nio closed Friday for their seventh straight session of losses, skidding 2.5% in afternoon trading. The Chinese EV maker fell 2.5% to $7.32 on Friday. Its shares have crashed nearly 39% over a 12-month period. Short interest in NIO stands at about 15.4% of the total float.
@Winner takes all : doesn't matter how hard you try I just won't sell a penny I will buy it even at 1 cent
7. $Apple(AAPL.US$ - Buzzing Stars: ⭐⭐⭐
At close on Friday, Apple fell to Microsoft, handing off the award for highest valuation company by market cap.
@Solomon Grauer: Move already ffs
8. $Advanced Micro Devices(AMD.US$ - Buzzing Stars: ⭐⭐⭐
At this week's CES tech trade show in Las Vegas, there were two storylines for the semiconductor industry. Most of the attention went to the microprocessor and graphics chip companies -- Nvidia, Intel, Advanced Micro Devices, and Qualcomm -- leading the charge into the artificial intelligence future.
@dwarrior: rugpull is coming
9. $Meta Platforms(META.US$ - Buzzing Stars: ⭐⭐⭐
Seeking Alpha Editor Tiyashi Datta wrote to look out for tech stocks in the S&P 500’s Communication Services sector ahead of the fourth-quarter earnings; the sector gained nearly 10% in the last three months, falling behind the broader market. Even as growth fell short of the broader market's, the sector, which boasts of big names including Alphabet, Meta Platforms, and Netflix, made a comeback last year with a gain of 49% after declining over 30% in 2022.
@104167193 : everything up, this one red
10. $Coinbase(COIN.US$ - Buzzing Stars: ⭐⭐
Friday, Bitcoin fell, dragging the share prices of companies that mine the cryptocurrency, along with Coinbase, a provider of end-to-end financial infrastructure and technology for the crypto-economy. Prices fell as optimism faded that the approval of exchange-traded funds directly investing in bitcoin could spur a surge in demand from retail and institutional investors.
@LeCedric : Adding more shorts next week
Thanks for reading!
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Weekly Topic
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HotShot369 : Hooohoo im in this post ;)
mr_cashcow : Thank you moomoo for the points!
I am keeping an eye out on the semiconductor industry and also crypto ETFs
Mr Trecherous :
102362254 : Yes, I am excited about this earnings season, as it will reveal how well the companies have adapted to the changing market conditions. I am watching closely at the technology sector, as it has been one of the most resilient and innovative sectors even during the pandemic. I am quite worried about the energy sector, as it has been facing unstable demand and price volatility due to the environmental and geopolitical factors. The energy sector is affected by the current Red Sea crisis. The Red Sea is a vital route for global trade, especially for oil and gas.
TracyD : SEC Bulllcrapishness
That means those shiteheads over at the SEC didn’t have any good reason to say no to a Bitcoin ETF but they were saying no anyway. Hmmmm, sounds suspiciously like the SEC is not in the game to look out for us. They just want things to go the way they want them to.
HuatLady : AI stocks are set to soar in 2024, as $NVIDIA (NVDA.US)$ and $Microsoft (MSFT.US)$ lead the the innovation in AI platforms. These platforms benefit from the network effect which boosts users and developers engagment. An awesome example is ChatGPT, a generative AI chatbot that had gone viral.
These factors hurt their financial performances and dividends, making them less appealing to investors.
I will monitor these sectors to adapt to market changes and whether they can bounce back.
Biopharmaceutical and bank stocks, however are struggling with various headwinds such as regulations, supply chain issues and low interest rates.
blackkeymatch : can drop
151477963 : Love it
Rexon Capital : Most important data for me this earnings season would be the forecast from companies whom have been hit by the high interest rates and Red Sea detour.
AI enablers and users are on my watchlist $Palantir (PLTR.US)$ $NVIDIA (NVDA.US)$
Kinda worried about China. Let’s see how they pivot the nation towards GDP growth $KraneShares CSI China Internet ETF (KWEB.US)$ $Invesco Golden Dragon China ETF (PGJ.US)$
搞经济 抄底 加仓 : Nasdaq Composite and Nasdaq future index different of 10% .. can someone explain
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