The bullish spirit engulfed Wall Street this week, as major indexes soared to unprecedented highs. The S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust SPY, achieved record-breaking all-time highs. This remarkable feat comes more than two years after its last peak.
The revival of the stock market was led by major technology stocks, buoyed by breakthroughs in artificial intelligence and robust consumer demand. The Nasdaq 100, tracked by the Invesco QQQ Trust QQQ, notched its 11th week of gains in the last 12, smashing through historic highs and crossing the 17,000-point threshold.
Our daily reports capture the most popular stocks among investors. Let’s revisit some of the most bullish and bearish stories from the past week.
Revved Bulls
In a thrilling development, “Uber, Tesla Team Up To Drive EV Adoption: Khosrowshahi Says Company Remains ‘Totally Committed’ To Electrification,” by Adam Eckert, chronicles the collaboration between Uber Technologies Inc. UBER and Tesla Inc. TSLA to ramp up electric vehicle adoption. Uber CEO Dara Khosrowshahi emphasized their unwavering dedication to electrification.
Additionally, “Dogecoin Could ‘Blast Off To The Moon,’ Says Crypto Analyst With $5 Price Target,” by Mehab Qureshi, showcases a crypto analyst’s bold prediction of Dogecoin DOGE/USD potentially soaring to $5, signifying a staggering 6000% surge. This forecast is supported by a recent spike in Dogecoin transactions and market indicators.
Moreover, “Amazon Scores Big With Regional Sports Network Deal: Prime Video To Feature MLB, NBA, NHL Games,” by Chris Katje, reveals that Amazon.com Inc. AMZN has secured a minority stake in Diamond Sports Group, expanding its media rights in sports to include streaming MLB, NBA, and NHL games on Prime Video.
To explore more bullish calls from the past week, delve into these captivating stories:
S&P 500 Shatters Records: The Top-Performing Stocks In January 2024
Roaring Bears
In a thought-provoking piece, “Bitcoin Halving Next Major Catalyst After Spot Bitcoin ETF Approvals, But History Shows BTC Could Dip To $34,000 By April,” by Khyathi Dalal, delves into the mixed predictions surrounding the impact of the upcoming Bitcoin BTC/USD halving event in April 2024 on the cryptocurrency’s prices.
Additionally, “Plug Power Hurtles Toward 4-Year Low After $1B Equity Offering Plans: Why This Analyst Says It’s Unlikely To Woo Back Investors,” by Shanthi Rexaline, reports that Plug Power, Inc. PLUG is hurtling toward a four-year low following plans for a $1 billion equity offering. Analysts remain skeptical about its ability to attract investors.
Moreover, “This PayPal Analyst Expects 2024 To Be A ‘Transition Year,’ Foresees Stock Range-Bound Due To Valuation Concerns,” by Surbhi Jain, predicts that PayPal Holdings Inc. PYPL is poised to encounter a “transition year” in 2024, with its stock likely to remain range-bound due to valuation concerns, according to a BofA analyst.
For more bearish perspectives, peruse through these revealing posts:
Alibaba and Tencent Lead Massive Investment Cutbacks Among Chinese Tech Giants
