🦉 Wall Street is surprisingly most bullish on these 3 Nasdaq stocks
byCOVID-19-
Past performance doesn't guarantee future results. Or does it? The age-old investment disclaimer is certainly being put to the test this year. Some of last year's biggest winners are off to hot starts in 2024. NVIDIA is the best example. After soaring 239% last year, the semiconductor leader is up almost 50% year-to-date. Meta Platforms Inc. (NASDAQ: META) has followed up its 194% surge with a 34% year-to-date advance. CrowdStrike Holdings Inc. (NASDAQ: CRWD), Advanced Micro Devices Inc. (NASDAQ: AMD) and Palo Alto Networks Inc. (NASDAQ: PANW) are also backing up huge 2023 rallies with big 2024 gains. Looking beyond the Nasdaq-100's top five stocks of 2023, however, there are exceptions. .
Equity markets rebounded on Thursday and reclaimed the week's opening levels. The move on Thursday was driven by a round of mixed economic data that keeps the economy on track for a soft, if bumpy, landing. Positive data included steady jobless claims, better-than-expected manufacturing numbers, and improving Home Builder Confidence. The bad news included hotter-than-expected import price gains and weaker-than-expected retail sales figures, suggesting a pullback in spending. The takeaway is that inflationary pressures remain within the economy, although they are spottier than ever.
Next week ushers in the final phase of the Q4 earnings cycle: reports from the retail sector. Names on the list include Walmart and Home Depot, which are expected to report midweek. Their results will foreshadow a much busier week of retail earnings next week and may lead the market. The takeaways will be how much consumers spend and what they spend money on. Trends in Q3 had consumer dollars shifting away from discretionary and toward household and food as the pinch of inflation bit into spending dollars.
Past performance doesn't guarantee future results. Or does it? The age-old investment disclaimer is certainly being put to the test this year. Some of last year's biggest winners are off to hot starts in 2024. NVIDIA is the best example. After soaring 239% last year, the semiconductor leader is up almost 50% year-to-date. Meta Platforms Inc. (NASDAQ: META) has followed up its 194% surge with a 34% year-to-date advance. CrowdStrike Holdings Inc. (NASDAQ: CRWD), Advanced Micro Devices Inc. (NASDAQ: AMD) and Palo Alto Networks Inc. (NASDAQ: PANW) are also backing up huge 2023 rallies with big 2024 gains. Looking beyond the Nasdaq-100's top five stocks of 2023, however, there are exceptions.
DoorDash's revenues and orders exceeded expectations for the fourth quarter, although its net losses failed to shrink as quickly as Wall Street had hoped.The San Francisco delivery company said Thursday that its revenues rose 27% to $2.3 billion in the October-December period, slightly exceeding the $2.25 billion analysts had projected. Total orders rose 23% to 574 million compared to the 561.3 million forecast by Wall Street, according to analysts polled by FactSet.The company's net loss narrowed to $154 million in the quarter, down from $640 million in the year-earlier period. Analysts, however, had expected them to narrow further to $61 million.DoorDash shares climbed 5.2% in regular trading but shed those gains and more after hours, falling 10%.
Today’s market is led by one of the most confusing dynamics seen in the latest cycle; markets are hitting all-time highs while most stocks seem to be struggling to reach even their 52-week highs. Bond yields are going up in trader bets that the FED interest rate cuts will not be here as soon as the market had priced them in to come. But, after all, it is a bull market. As has been the trend for the past couple of years, from 2020 to 2023, today’s hype and momentum are still focused around the world of technology stocks. Taking the hindmost in this space, whose performance you ca...
In the past year, AI has amazed us all with its achievements. It can predict weather, recommend winning stocks, create original art, write computer code, detect skin cancer – and, shockingly, it can do all these things better than most humans. But when you see its latest leap (revealed in on-location footage), you may want to pinch yourself!
As some of the world's biggest economies stumble into recession, the United States keeps chugging along. Both Japan and the United Kingdom said Thursday their economies likely weakened during the final three months of 2023. For each, it would be the second straight quarter that's happened, which fits one lay definition for a recession. Yet in the United States, the economy motored ahead in last year's fourth quarter for a sixth straight quarter of growth. It's blown past many predictions coming into last year that a recession seemed inevitable because of high interest rates meant to slow the economy and inflation.Give much of the credit to U.S.
The oil refiners' exchange-traded fund (ETF), the VanEck Oil Refiners ETF (NYSEARCA: CRAK), is outperforming the broader Energy Select Sector SPDR Fund (NYSEARCA: XLE) on a one-month, three-month and one-year basis. The top components in the CRAK ETF are Marathon Petroleum Corp. (NYSE: MPC), Valero Energy Corp. (NYSE: VLO) and Phillips 66 (NYSE: PSX), all of which have been handily outperforming oil stocks as a group, as well as the broader group of energy stocks. There are a few reasons why the sub-industry of oil refiners can potent...
Are you ready to invest in a brighter, greener future? Look no further – the #1 Alternative Energy Stock is here, leading the charge towards sustainable and profitable solutions! By clicking link you are subscribing to The Darwin Investor Network and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy. Full disclosures found here.
The Biden administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The news sent Wells Fargo's stock up sharply Thursday as investors speculated that the bank, which has been kept under a tight leash by regulators for years, may be able to rebuild its reputation and start growing again. The bank's shares closed up 7.2% to $52.04, its highest level since March 2022, in extremely active trading. The Office of the Comptroller of the Currency, the regulator of big national banks like Wells Fargo, on Thursday terminated a consent order that had been in place since September 2016.
For shareholders of the multinational biotech giant Pfizer Inc. (NYSE: PFE), it might feel like the stock's all-time highs set during the pandemic were centuries ago. After making its COVID-19-related all-time high in late 2021, the stock turned lower and has since been in a steep downtrend, declining by more than 50% from the 2021 high. The steady decline played out as the world emerged from the pandemic, and several biotech companies grappled with the decreasing demand for their COVID-related products. However, in its latest earnings report, the company reported an ear...
The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season.The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.32%.Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week, pushing the average rate to 6.12% from 5.90% last week. A year ago it averaged 5.51%, Freddie Mac said.The increase in rates echoes moves in the 10-year Treasury yield, which lenders use as a guide to pricing loans.
The Night Owl is an evening newsletter published by The Early Bird and powered by MarketBeat. The Night Owl covers top stories on the stock market and outlook on interesting stocks. If you give a hoot about the market, read your copy every Tuesday, Thursday, and Sunday evening.
American Consumer News, LLC dba MarketBeat 345 N Reid Place, Suite 620, Sioux Falls, SD 57103. contact@marketbeat.com
