Last week saw a downturn in the primary stock indices, breaking a streak of 10 weeks of gains. The Nasdaq experienced its largest weekly decline since September, dropping by 3.25%. The S&P 500 and the Dow Jones also saw losses of 1.52% and 0.59%, respectively.
On a brighter note, the U.S. job market outperformed expectations in December, adding 216,000 nonfarm jobs, surpassing the estimated 170,000. The unemployment rate held steady at 3.7%, signaling continued strength in the labor market.
This robust employment data hints at a potential delay in anticipated interest rate cuts by the Federal Reserve. Market traders, who were previously optimistic about rate reductions, may need to revise their expectations following this release.
Benzinga remains committed to delivering daily reports on the most popular stocks among investors, featuring both bullish and bearish sentiments.
The Bulls
According to “Tesla Model Y Is Bestselling Electric Vehicle Of All-Time, Passing A Record Previously Held By The Musk-Led Company,” Tesla Inc. (TSLA) has achieved a major milestone with the Model Y becoming the best-selling electric vehicle ever, surpassing the company’s own Model 3.
In “Amazon Is Analyst Clear Favorite For Wall Street Analysts for 2024,” Amazon.com, Inc. (AMZN) emerges as the top pick for 2024 among Wall Street analysts, driven by optimism in AWS growth, AI potential, and operating efficiency.
“Crypto Experts Eye Sky-High Bitcoin Values In 2024: What’s Driving The Bullish Predictions?” highlights the positive forecasts for Bitcoin (BTC/USD) in 2024, driven by factors like the Bitcoin halving event and potential ETF approvals, with some projections reaching as high as $100,000.
Additional bullish calls include insights on the highest yielding Dow Jones stocks, potential upside ahead, and significant artificial intelligence opportunities in 2024.
The Bears
As detailed in “Tech Titans Tumble: ‘Magnificent Seven’ Shed $250 Billion in Market Cap On 2024 Day One,” the “Magnificent Seven” tech companies, including Apple Inc. (AAPL) and Amazon, collectively lost $250 billion in market cap on the first trading day of 2024, led by Apple’s 4% drop.
“Cloudflare CEO Says Rivian Trucks ‘A Disaster’ When Something Goes Wrong, Reveals Staggering $4,200 Quote For Windshield Repair” highlights Cloudflare Inc CEO Matthew Prince’s criticism of Rivian Automotive Inc. (RIVN) for high repair costs, shedding light on a personal experience with an expensive windshield repair.
Lastly, “Is the Streaming Bubble Bursting? Significant Portion Of Users Cut Multiple Subscriptions” focuses on the challenges facing streaming giants like Netflix, Inc. (NFLX), Paramount Global (PARA), and Walt Disney Co (DIS), which are contending with increased customer churn due to rising prices and cost-of-living concerns, resulting in a rise in subscription cancellations.
Other bearish perspectives delve into the US national debt, China’s housing market, and the trajectory of Nvidia in the AI landscape.
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