Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
It was another volatile week on Wall Street as developments in the banking sector remained a top concern for investors. The three major indexes all finished in the green for the week. The Dow Industrials were up 0.4%, while the S&P 500 gained 1.4% and the Nasdaq Composite finished the week 1.6% higher.
On Friday, Deutsche Bank AG DB shares dropped more than 3% after the price of the bank’s credit default swaps jumped, indicating market concerns about the bank’s health.
Earlier in the week, the Federal Open Market Committee raised its fed funds target range by 0.25% to between 4.75% and 5%. In its updated economic projections, the Federal Reserve raised its outlook for 2023 core personal consumption index inflation to 3.6%, up from 3.5% in December.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.
“Nvidia Stock Is Up Over 100% In 6 Months. Impressed? Cramer Says Wait For The ‘Unimaginable,’” by Shanthi Rexaline, reports that Jim Cramer sees a bright future for Nvidia Corp NVDA as the company has a “stunning” lead in providing AI microchips.
In “Almost Done: BofA, Goldman Sachs Expect Fed Hiking Cycle To End By Midyear Amid Banking Credit Crunch,” Piero Cingari writes that Bank of America BAC and Goldman Sachs GS economists say the Fed will reach the end of its rate-hiking cycle in the coming months
“Cathie Wood Just Bought Into This Big Tech Stock After A Long Time,” by Shanthi Rexaline, reports on the number of shares of Microsoft Corp MSFT purchased by Cathie Wood’s Ark Invest following the company’s integration of Open AI‘s ChatGPT.
For additional bullish calls of the past week, check out the following:
“Short Seller That Sunk Second-Richest Man Has New Target, And Jack Dorsey Is In The Crosshairs,” by Adam Eckert, reports on a bearish report issued by short seller Hindenburg Research claiming a host of issues with Block Inc SQ and causing the stock to slump.
In “Billions At Risk As Catastrophic Flaws Found In Dogecoin, 280+ Crypto Networks,” Murtuza Merchant details vulnerabilities found in the open-source codebase of Dogecoin DOGE and hundreds of other cryptocurrencies during a recent evaluation that have since been corrected.
“Tesla May Lose $7,500 Tax Credit On Model 3 Standard Range Due To This Reason,” by Anan Ashraf, outlines a report that Tesla Inc TSLA CEO Elon Musk this week told employees the EV maker is expected to lose a $7,500 federal tax credit on its cheapest electric car.
For more bearish takes, be sure to see these posts: