Last week, Benzinga looked at the outlook for stocks that are popular with many investors. Here are some of the top articles.
Both the S&P 500 and Dow snapped six-week winning streaks, with the S&P 500 down nearly 1% and the Dow down 2.7% for the week. Meanwhile, the Nasdaq rose 0.2% to a record high, marking its seventh straight week of gains, driven by strong performance in mega-cap tech stocks.
Wall Street had a mostly flat week as investors remained cautious as the presidential election approached and concerns about fiscal policy and possible trade disruptions remained.
The rise in U.S. bond yields signaled market expectations that the next administration will face fiscal difficulties regardless of the election outcome.
Benzinga provides daily reports on the stocks that are most popular with investors. Here are some of last week’s most bullish and bearish posts that are worth revisiting.
bulls
“Nvidia’s new free, open-source AI model reportedly outperforms OpenAI’s GPT-4o, Anthropic’s Claude 3.5 Sonnet” by Ananya Gairola, Nvidia Corp. NVDA’s free, open-source AI model reports It details how I launched one Llama-3.1-Nemotron-70B-Instruct. It outperforms competitors on key benchmarks, reflecting Meta Platforms Inc.’s strategic shift to AI software dominance using its META framework.
“Dogecoin has risen 28% in the past week, and a big move in Bitcoin could push it above $0.50, says veteran trader.” (Kyati Dalal) This highlights the bullish predictions of two traders who expect Dogecoin DOGE/USD to soar above $0.50 if it breaks above $0.50. The levels indicate historical trends and money flow indicators that support the memecoin’s upward momentum.
Plug Power, EVgo, Enovix: Analyst Clean Tech Picks For Navigating Election Exposure, Hedging Uncertainty, by Surbhi Jain, features JPMorgan analyst recommendations for navigating election-related market volatility, and includes Plug Power Inc. . PLUG and EVgo Inc. Focus on EVGO. On the other hand, while its focus on consumer electronics and non-U.S. markets suggests Enovix’s ENVX as a safer hedge, there is upside potential.
Check out below for additional bullish calls from the past week.
L3Harris partnership lifts Palantir stock: What you need to know
US economy aims for 3.4% growth in third quarter: Is the soft landing reaccelerating?
Exclusive: SoundHound AI wants to ‘voice the world’ to ease conversations between people and products
bears
“Goldman Sachs predicts poor long-term returns for S&P 500 as market concentration reaches ‘100-year high'” by Piero Singari, says the S&P 500 will return only 3% annually over the next 10 years. He outlined Goldman Sachs’ predictions and warned: Extreme market concentration, led by the likes of Apple Inc. AAPL, could severely limit growth compared to the 13% return over the past decade.
“Clever CEO throws cold water on Tesla’s robo-taxi idea, says self-driving cars won’t arrive ‘until 2030′” by Chris Katch, Peter Rawlinson’s doubts about the immediate future of self-driving cars 2030, and criticizes Tesla’s TSLA and Elon Musk’s autonomous ambitions.
Peter Schiff predicts ‘disaster’ for MicroStrategy stock, says it is the most overvalued in the MSCI World Index, by Aniket Verma. MicroStrategy’s MSTR is significantly overvalued in the MSCI World Index. It reports on Peter Schiff’s warning that a dramatic collapse is expected. This is because it relies heavily on Bitcoin BTC holdings and speculative strategies.
For more bearish views, be sure to check out our next post.
Five U.S. banks face billions of dollars in losses as short sellers take a hit as silver prices soar: Report
Novo Nordisk, maker of Ozempic and Wegovy, asks FDA to halt production of combined fat-loss drug due to ‘intrinsic complexity’
Rivian Analyst Cuts Demand Forecast, Warns Weaker Production and Delivery Trends Risk Growth Stock Multiples
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