Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
After two positive weeks for the markets, the major indexes gave back those gains this week. The S&P 500 finished down 3.37%, the Nasdaq Composite dropped by 3.99%, and the Dow Jones Industrial Average closed 2.77% lower for the week.
On Friday, the U.S. Labor Department reported a 7.4% increase in the producer price index in the month of November, down from peak growth of 11.7% in March but above a 7.2% gain economists expected.
Investors are now awaiting the Federal Reserve’s rate hike decision next week. Fed Chair Jerome Powell recently said the central bank could begin moderating the pace of rate hikes “as soon as the December meeting,” but the central bank will likely maintain the course of tightening monetary policy.
Benzinga continues to examine the prospects for many of 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.
“Is Elon Musk Unwittingly Helping Mark Zuckerberg? Why This Meta Analyst Can See Stock Doubling Within Months,” by Shanthi Rexaline, explains why Empirical Financial’s Whitney Tilson expects shares of Meta Platforms Inc META to continue climbing after bouncing off their Nov. 4 low.
In “Robinhood Pivots From Day Trading With New Offering As Millennials, Gen Z Age Out,” AJ Fabino details a new product from Robinhood Markets Inc HOOD that allows customers to register an individual retirement account (IRA), which will become fully available in January 2023.
“Netflix Co-CEO Doesn’t See TikTok, YouTube And Instagram As Competition: ‘The Way People Got Excited About Wednesday…,'” by Ananya Gairola, outlines why Netflix Inc NFLX co-CEO Ted Sarandos doesn’t see YouTube, TikTok or Reels as competitors of the streaming giant.
For additional bullish calls of the past week, check out the following:
Apple Car Can Single-Handedly Solve Growth Challenges And Make Up For 25% Of Tech Giant’s Business, Says Munster
Target Bull Drops Stock To Buy Shares Of This Retailer Following ‘Overreaction’ To Earnings
Reddit Co-Founder Alexis Ohanian Prints Mean Tweets And Screenshots: How He Uses Them As Motivation
“Elon Musk, In A Rare Move, Says This Tesla Rival Is ‘Not Long For This World,'” by Shanthi Rexaline, reports on comments by Tesla Inc TSLA CEO Elon Musk that EV rivals Lucid Group Inc LCID may not be in business for much longer after a dip in reservations in the third quarter.
In “Jim Cramer Says Crypto Is A ‘Gigantic Con’: Why He Sold Bitcoin, Ethereum Near The Top,” Adam Eckert details why Jim Cramer sold all his Bitcoin BTC/USD and Ethereum ETH/USD along with his concerns about the entire sector.
“EQT, Halliburton Lead Energy Stocks Lower As Russian Oil Embargo And Price Cap Kick In,” by Wayne Duggan, reports on how oil giants like EQT Corp EQT and Halliburton Company HAL saw share prices drop this week following a new European Union oil embargo on Russia.
For more bearish takes, be sure to see these posts:
Why Tesla Stock Taking Such A Hammering? Analyst Points To Rumors Of Elon Musk Stepping Down, Twitter Burden And More
Amazon Leads The Market Lower, Flashes Warning Sign The Bears Remain In Control: What’s Next?
Jamie Dimon Says Inflation Could ‘Derail The Economy’ And Cause A Recession In 2023 As Rising Prices Cannibalize Consumer Savings