Bulls and Bears: Trader Predicts Dogecoin Surge by Apple, Nvidia, Netflix
Last week saw the S&P 500, Dow, and Nasdaq all posting gains, with the S&P 500 rising by 1.5%, the Dow by 0.6%, and the Nasdaq by 2.6%. Despite concerns over inflation, the market remained resilient as hopes for peace talks in Ukraine and President Trump’s tariff plans eased fears.
The Consumer Price Index for January showed a 3% year-over-year increase, surpassing expectations. Rising energy and food prices, especially eggs, were major contributors to the uptick, with core inflation also exceeding forecasts.
Federal Reserve Chair Jerome Powell indicated no rush to cut interest rates, causing investors to push back expectations for the first rate cut to December. Some economists even suggested the potential for a rate hike instead.
Benzinga keeps investors updated with daily reports on popular stocks. Some noteworthy stories from last week include:
Bullish Trends:
– Steel and aluminum stocks saw a surge following Trump’s announcement of reintroducing 25% tariffs on imported metals. Companies like Alcoa Corp., Century Aluminum Co., Cleveland-Cliffs Inc., and United States Steel Corp. experienced significant gains.
– A JPMorgan analyst reiterated an Overweight rating on Netflix Inc., with a target price of $1,150. This was due to expectations of strong subscriber growth, increased engagement, and anticipated revenue growth of $2 billion in the U.S. and $370 million in the UK.
– A crypto trader forecasted a rally in Dogecoin around March 24 based on Fibonacci time zones and increased whale activity and daily active addresses, indicating potential bullish momentum.
For more bullish calls, readers can check out the following stories: the rally of Dutch Bros Stock after Q4 results, Applovin Stock’s soar on Q4 earnings, and Super Micro’s growth prospects.
Bearish Trends:
– China is reportedly considering targeting U.S. tech firms like Apple, Nvidia, and Broadcom with antitrust probes amidst rising trade tensions. This move aims to gain leverage in trade negotiations and could escalate tensions further.
– Taiwan Semiconductor Manufacturing Co. faces uncertainty due to Trump’s semiconductor tariff threats and discussions about scrapping CHIPS Act subsidies. This has led Taiwan’s deputy economy minister to visit Washington in light of growing trade tensions.
– Missouri Attorney General Andrew Bailey sued Starbucks Corp. over alleged violations of anti-discrimination laws in its DEI initiatives, sparking a legal battle over hiring policies.
For more bearish takes, readers can explore stories on inflation concerns, Serve Robotics’ decline post-Nvidia exit, and allegations of tax fraud against Tesla CEO Elon Musk.
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