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.
The S&P 500 and Nasdaq ended their five-week winning streaks with declines of 0.51% and 1.1%, respectively. The Dow Jones Industrial Average also fell by 0.98%, marking its second consecutive week of losses.
Despite the challenging week, May proved to be successful for the markets, with each major index posting gains for the sixth time in seven months. The Dow climbed 2.3% for the month, the S&P 500 increased by 4.8% and the Nasdaq surged 6.88%, achieving its best performance since November.
The Fed’s preferred inflation indicator remained stable in April, alleviating some concerns about rising prices. However, a slowdown in consumer spending and income growth indicated weakening consumer health. Additionally, the Chicago business activity index dropped to its lowest point since May 2020, fueling worries about a potential end-cycle slowdown.
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 “Magnificent 7 Becomes The Magnificent One: Wall Street Guru Hails Single Tech Stock,” by Piero Cingari, reports that Ed Yardeni of Yardeni Research now considers Nvidia Corp. (NASDAQ:NVDA) as the key driver among the Magnificent 7 tech giants due to its substantial year-to-date rally and dominance in the AI sector.
“Shiba Inu Investor Turns $2,625 Investment In ‘Dogecoin Killer’ To $1.1M After 3.5 Years Of Inactivity,” by Aniket Verma, highlights a trader's remarkable 419X profit from selling Shiba Inu (CRYPTO: SHIB) tokens bought for $2,625 and sold for $1.1 million after 3.5 years.
“GameStop Rally Returns After Share Offering: How Will Company Use $1 Billion In Proceeds?,” by Chris Katje, details GameStop Corp. (NYSE:GME) raising $933.4 million through a share offering to fund potential acquisitions and investments, sparking investor interest and a stock rally.
For additional bullish calls of the past week, check out the following:
Dogecoin Is ‘The Easiest Play, ‘Will 2x Instantly’ Once It Starts Moving, Bullish Traders Predict
Major Cruise Operators Slash Summer Prices Despite High Demand – Here’s Why
Palantir Stock Shrugs Off Cramer’s Sell Call As $480M AI Contract For Army Fuels Premarket Rally
The Bears
“Economist Paul Krugman Says Degradation Of Google And Other Search Engines Are Making His Job Difficult,” by Ananya Gairola, reports that Paul Krugman criticized Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and other search engines for declining quality, making it harder to find reliable information for his work.
“Time Runs Out For BHP Deal: $49-Billion Acquisition Of Anglo American Proves Too Complex To Solve,” by Stjepan Kalinic, details BHP Group (NYSE:BHP) abandoning its $49.2 billion bid to acquire Anglo American (OTC:AAUKF) due to the deal’s complexity, especially concerning Anglo’s South African assets.
“Tesla Board Slams Glass Lewis After It Recommends Shareholders To Vote Against Elon Musk’s $56B Pay Package,” by Anan Ashraf, details Tesla Inc. (NASDAQ:TSLA) criticizing Glass Lewis for urging shareholders to reject Elon Musk‘s rescinded $56 billion pay package, calling the advisory firm’s findings “faulty” and “speculative.”
For more bearish takes, be sure to see these posts:
Cathie Wood’s Ark Innovation ETF Sees Sharp Decline Among Top Holdings — Here Are 10-Largest Losers Within ARKF
‘Scared Of Biden Staying?’ 33% Of Voters Will Consider Candidate’s Crypto Stance In 2024, Survey Says
Jim Cramer Says Salesforce Stock Slide Can Be Traced Back To Nvidia: ‘Let’s Not Buy A Really Big Software Package…’
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using artificial intelligence via Midjourney.
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