Market Madness: A Week in Review Market Madness: A Week in Review

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By Ronald Tech

Benzinga digged deep into the swirling cauldron of investment activity over the past week – here’s a glimpse at some of the market maelstrom’s top stories.

Amidst the tumult, all three major indexes emerged victorious as the S&P 500 surged by 1.8%, the Nasdaq by 3.1%, and the Dow by 0.3%.

The Consumer Price Index ascended to 3.4% YoY in December, overtaking November’s 3.1% and the anticipated 3.2%, signifying potential ripples on financial waters and Federal Reserve policies.

In the world of banking, JPMorgan Chase & Co. JPM reported robust earnings, flaunting a buoyant net interest income outlook in the face of economic qualms. Meanwhile, Bank of America Corp. BAC weathered a 10% revenue decline, while Wells Fargo & Company WFC reveled in a 9% profit surge but braced for diminished future revenue. On another front, Citigroup Inc C grappled with shrunken revenue and announced sweeping job cuts as part of a strategic overhaul.

The week culminated with the SEC’s green light for spot Bitcoin ETFs, expanding the cryptocurrency’s investor horizons to resonate across the digital asset seas.

Benzinga perpetually dishes out daily platters on stocks that have wormed their way into investors’ hearts. Below, feast your eyes on some of the most tantalizing bullish and bearish servings from the past week.

Amidst the Bulls

In the tale of the tape titled “Microsoft Back On Top, Dethrones Apple As World’s Most Valuable Company” by Chris Katje, the plot thickens as Microsoft Corporation MSFT outmaneuvers Apple Inc AAPL to ascend the exalted throne as the world’s most valuable company, propelled by its forays into artificial intelligence.

“‘Credits To The Tesla Team:’ Elon Musk Applauds His Workers As EV Giant Eclipses Legacy Automakers’ Sales Growth Over 8 Years” by Shanthi Rexaline, Elon Musk’s cheers reverberate through the ages as Tesla outshines entrenched automakers in U.S. sales growth from 2015 to 2023.

Exposing what lay beneath the veil, “Cathie Wood Reveals How Much Bitcoin She Owns Personally For First Time”, penned by Mehab Qureshi, unveils the revelation that Cathie Wood, CEO of ARK Investment Management, has tethered at least 25% of her personal net worth (excluding her firm and real estate) to Bitcoin BTC/USD.

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For the full spread of bullish calls from the week gone by, savor these succulent morsels:

Who Should Tesla Be Most Worried About? Not Ford Or GM, But Rivian And An Unlikely Korean Rival

Semiconductor Supply In Automotive Industry Has Caught Up With Demand, AMD and Nvidia Set for Prominent AI and Automotive Role: Analyst

BlackRock CEO Larry Fink: ‘I’m A Big Believer,’ Sees Value In Having Ethereum ETFs

Among the Bears

In the sordid affair detailed in “Congresswoman Laurel Lee Sells Alibaba Stock After Criticizing China: Why Her Trade Is Drawing Scrutiny” by Chris Katje, the spotlight shines on the affair of Rep. Laurel Lee (R-Fla.), who dumped her shares of Alibaba Group Holding BABA amidst her censure of China while partaking in a cybersecurity subcommittee role, inviting the watchful gaze of scrutiny.

“‘Ethereum Killer’ Solana Plummets 12%, Max Keiser Says ‘Rug Pull Has Begun'” by Mehab Qureshi narrates the 12% descent of Solana SOL/USD while broadcaster Max Keiser forewarns of an impending “rug pull,” wielding grave implications following the cryptocurrency’s recent hype-fueled ascent.

The woeful saga chronicled in “Boeing Faces ‘Reputational Minefield’ After Midair Door Blowout: 4 Analysts On Collateral Damage From 737 MAX 9 Grounding” by Surbhi Jain delves into the tribulations besieging Boeing Co BA as it grapples with regulatory scrutiny and potential wounds to its reputation following a harrowing door blowout on a 737 MAX 9 aircraft operated by Alaska Air Group, Inc. ALK.

For more mournful dirges, heed these melodies of despair:

Apple Analyst Mark Gurman Deems Vision Pro’s Virtual Keyboard A ‘Complete Write-Off’ Ahead Of First Sale

Analyst Cautions On Plug Power And SunPower, Flags Financing Concerns, Slow Recovery

Stagflation In 2024? Red Sea Crisis Could Trigger Domino Effect For Global Costs

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