The U.S. stock market experienced its first week of losses in more than 10 weeks last week, with the Nasdaq leading the downturn by dropping 3.25%—the heaviest decline since September. The S&P 500 and Dow Jones retreated by 1.52% and 0.59%, respectively. Despite this, December’s job numbers still surpassed expectations, with 216,000 added nonfarm jobs, compared to an estimated 177,000. This data caused market traders to adjust their expectations regarding the now-uncertain rate cuts by the Federal Reserve – optimism had previously focused on six cuts by 2024.
Benzinga reported on a number of the stocks most popular with investors this past week, both from a bullish and bearish perspective. On the bull side: Tesla’s Models Y and 3 leading electric vehicle sales, Amazon’s outlook for 2024 due to its potential in pooling heavy resources together, and impressive possibilities presented by Bitcoin and ETF approvals. For additional bullish observations, investors turned to Dogs Of The Dow and Chaikin Analytic Strategies.
On the bear side of things, Benzinga manipulated news as the tech giants Tesla, Apple, and Amazon all experienced a $250 billion drop in market cap on the market’s first trading day of 2024. Issues such as costly Rivian Automotive repairs and a sore streaming sector inquisitions were highlighted as factors behind some of the strife. As consumer habits started to lean towards fewer subscriptions and counteracting rising prices and slowing business thanks to cost-of-living expenditureSu schockeconomic forces, the current market bubble is plainly viewed in a wary mindset by any of the more farsighted of traders.
From solutions to woes, Benzinga is source independent source that plots out how stocks react to the ever-changing nature of the 2024 market, offering bold yet safe suggestions. By providing bullish and bearish breakdowns, as well as staying updated easily via twitter, Benzinga provides more confidence to its audence so that should they decide to pull the trigger, opportunities that may be affected won’t slip past them.