HomeMarket NewsMicro Cap StocksBulls and Bears: Tesla, Nvidia, Amazon, and the Highly Anticipated Bitcoin ETF...

Bulls and Bears: Tesla, Nvidia, Amazon, and the Highly Anticipated Bitcoin ETF Approval

Actionable Trade Ideas

always free

bulls bears3

In the world of finance, investors and traders are constantly seeking insights into the markets and looking for opportunities. This week, we delve into the prospects of some popular stocks and examine the key stories that caught our attention.

It was a challenging week for the market, with all three major indexes – S&P 500, Dow, and Nasdaq – experiencing declines. The tensions in the Israel-Hamas conflict and concerns over rising interest rates contributed to the negative sentiment. The S&P 500 fell by 2.4%, the Dow decreased by 1.6%, and the Nasdaq saw a 3.2% drop, extending its second consecutive weekly decline.

During a gathering hosted by the Economic Club of New York, Federal Reserve Chair Jerome Powell emphasized the importance of a measured approach by the central bank based on economic indicators. He also hinted at the possibility of additional rate increases in the future if economic growth continues and inflation persists.

In September, U.S. retail sales registered their sixth consecutive month of growth, with a 3.8% increase compared to the previous year. This marked the largest annual increase since February 2023, indicating a positive trend in consumer spending.

To provide you with valuable information for your investment decisions, we have curated a selection of bullish and bearish stories from the past week. Let’s take a closer look.

The Bulls

In an article by Chris Katje, Ark Invest CEO Cathie Wood expresses her belief that Tesla Inc. (TSLA) has significant upside potential in the artificial intelligence (AI) sector over the next five years compared to Nvidia Corporation (NVDA). Wood highlights Tesla’s prospects in autonomous driving and robotaxi endeavors as the driving force behind her bullish outlook.

Another article by Anusuya Lahiri highlights Wedbush analyst Scott Devitt’s positive outlook on Amazon.com Inc (AMZN). Devitt emphasizes the company’s potential for growth through its Amazon Web Services (AWS) and ad revenue surge, citing increasing retail margins and accelerated AWS growth as catalysts for outperformance.

The anticipation for the approval of a spot Bitcoin ETF is the focus of Murtuza Merchant’s article. Experts weigh in on how the potential approval of a Bitcoin ETF could lead to increased adoption of the cryptocurrency and potentially trigger a significant market rally.

For more bullish stories from the past week, here are some additional articles:

  • Cathie Wood remains hopeful for Bitcoin ETF approval by the SEC
  • Billionaire Todd Boehly shares insights on the spending habits of the wealthy
  • Analysts compare Palantir and C3.ai and highlight the brighter future for one of the stocks

The Bears

In a piece by Anan Ashraf, Tesla CEO Elon Musk expresses the challenges the company faces in scaling up Cybertruck production. Musk acknowledges the uniqueness and advanced technology of the vehicle, which present significant hurdles to achieving volume production.

Nina Zdinjak’s article highlights Tilray Brands CEO Irwin Simon’s perspective on the regulatory confusion in the U.S. cannabis industry. Simon emphasizes the need for clarity in the market and reflects on Canada’s mixed results in the five years since the legalization of recreational cannabis.

Adam Eckert details Bank of America CEO Brian Moynihan’s observations on the deceleration of consumer spending. Moynihan attributes the slowdown to rising interest rates and notes that despite a 10% profit jump in the third quarter, spending growth rates resemble pre-pandemic levels, indicating a more cautious economic environment.

To explore more bearish takes from the past week, check out these articles:

  • 30-year mortgage rates soar to the highest level in over two decades amid Treasury turmoil
  • Apple’s China App Store unit faces scrutiny with staff members dismissed for misconduct
  • Debt-saddled Country Garden poses a challenge to Beijing’s recovery efforts

Stay up to date with the latest breaking news and trading ideas by following Benzinga on Twitter.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.