Benzinga - by Michael Cohen, Benzinga Editor.
Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
Despite Federal Reserve Chairman Jerome Powell this week emphasizing the need for higher confidence in inflation control and the Fed’s updated median projections indicating only one interest rate cut in 2024, investors remain optimistic that rate cuts will begin in September.
Expectations of continued cooling inflation have bolstered the S&P 500 and Nasdaq this week. The S&P 500 and Nasdaq Composite ended the week up by about 1.6% and 3.2%, respectively. However, the Dow Jones Industrial Average recorded a 0.5% weekly loss.
Meanwhile, the University of Michigan's Survey of Consumers revealed a decline in consumer sentiment, dropping to 65.6 in June from 69.1 in May, falling short of the 71.5 Dow Jones estimate.
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.
The Bulls “Jim Cramer: ‘GameStop Won,’ Bears Are Going To Retreat As Ryan Cohen Turns Stock Into Pseudo-SPAC, Embarks On ‘Chewy 2’” by Adam Eckert, reports on Jim Cramer‘s assertion that GameStop Corp. (NYSE:GME) will thrive as CEO Ryan Cohen uses its cash reserves to create a pseudo-SPAC and aims to replicate Chewy, Inc.’s success.
“Arthur Hayes, Raoul Pal Predict Dogecoin ETF: ‘If People Wait In Line For Luxury Brands, They Will Trade Meme Coins Online’” by Khyathi Dalal, highlights Arthur Hayes and Raoul Pal forecasting a Dogecoin (CRYPTO: DOGE) ETF by the end of this market cycle, drawing parallels between the enthusiasm for luxury brands and meme coins.
“Tim Cook Announces Apple Intelligence For iPhones At WWDC, Calls It ‘Next Big Step:’ ‘Tremendously Exciting New Era’” by Rounak Jain, details CEO Tim Cook‘s announcement of Apple Inc.‘s (NASDAQ:AAPL) new AI-powered personal intelligence features for iPhones and iPads at WWDC, emphasizing privacy and integrating capabilities across apps like Messages and Mail.
For additional bullish calls of the past week, check out the following:
Brad Gerstner Bought Nvidia Stock When ‘Everybody Said Sell’: Now He’s Buying Apple Stock At All-Time Highs
Economist Paul Krugman Reacts To May CPI Data: ‘Inflation Has Basically Been Defeated’
Bitcoin Plunges Below $66K: These Indicators Show If It’s Time To Use The Escape Hatch
The Bears
“Tesla Bear Says Elon Musk Has ‘Mentally Checked Out’ Of EV Giant Long Ago, But Will Stay Back For This Reason” by Shanthi Rexaline, details Gordon Johnson‘s view that CEO Elon Musk has mentally disengaged from Tesla Inc. (NASDAQ:TSLA) but will remain to support his other ventures, while seeking 25% voting control to oversee AI technology at the company.
“Peter Schiff Warns Of Market Instability Amid Bitcoin’s Reliance On ETF Buyers: ‘It Makes The Entire Market More Unstable’” by Aniket Verma highlights Peter Schiff‘s concern that Bitcoin‘s (CRYPTO: BTC) dependence on institutional ETF buyers could lead to market instability, as these buyers may become future sellers, thereby increasing volatility.
“Boeing And Airbus Under FAA Investigation For Authenticity Of Titanium Parts In Some Jets: Report” by Shivani Kumaresan, details the FAA’s investigation into Boeing Co. (NYSE:BA) and Airbus SE (OTC:EADSY) for potentially using titanium parts with falsified documentation, raising concerns about the integrity of these critical aerospace materials.
For more bearish takes, be sure to see these posts:
Qualcomm And Arm’s Legal Dispute Threatens New AI Laptop Shipments: Report
JPMorgan’s Top Strategist Sticks To Bearish S&P 500 Forecast, Warns Of 2008-Like Crash: ‘Equities Continue To Price In Little Downside Risk’
Elliott Investment Criticizes Southwest Airlines Execution In Letter, Promises 77% Stock Return Potential
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