Bulls And Bears

author: FutureCar Staff    

Last week was a mixed bag for investors on Wall Street. While the Dow Jones Industrial Average experienced a slight decline of 0.45%, the S&P 500 index saw a rise of 0.8%. The Nasdaq Composite had the best performance among the three indexes, surging by 2.3%.

On Friday, the stock market received a boost as Federal Reserve Chairman Jerome Powell made positive remarks during the annual gathering in Jackson Hole, Wyoming. Powell highlighted the expected stronger economic growth, with a focus on consumer spending and initial recovery indicators in the housing sector. He also emphasized the Federal Reserve's commitment to bringing inflation back to its targeted 2% mark.

Benzinga, a trusted source for investors, provides daily reports on popular stocks. Here are some of the most noteworthy stories from last week:

The Bulls:

"Exclusive: Why Does Cathie Wood Think Bitcoin Is Going To $1 Million? What Does She Know That We Don't?" by Chris Katje explores Cathie Wood's optimistic view on Bitcoin, predicting a potential rise to $1 million within the next five to seven years. Wood emphasizes Bitcoin's role as the first global, private, digital, rules-based monetary system.

"Nvidia's Q2 'Drop The Mic' Moment Potentially Igniting A Tech Rally That Will Continue Into The Rest Of The Year: Analyst" by Shanthi Rexaline discusses Wedbush analyst Daniel Ives' perspective on Nvidia Corp's outstanding Q2 results. Ives sees this as a significant moment for the tech sector, indicating the increasing demand for AI.

"TikToker Who Sold $2K Worth Shiba Inu in 2021 Could've Had $225M Today If He Held On To Dogecoin" by Mehab Qureshi reveals how TikToker Damien Soylash missed out on a potential $225 million by selling his $2,000 investment in Shiba Inu too early.

For more bullish calls from last week, check out the following:

The Bears:

"China's Rate Change Causes Market Panic, Big Dive In Hong Kong Stocks" by Piero Cingari discusses the People's Bank of China's decision to cut its 1-year loan prime rate, leading to market uncertainty and a significant drop in Hong Kong's Hang Seng Index.

"Tesla's Biggest Risk Right Now? Analyst Says This Could Crash 2023 EPS By Up To 35% Below Estimates" by Shanthi Rexaline highlights Future Fund Managing Partner Gary Black's concerns about potential configurator price cuts by Tesla Inc, which could significantly impact the company's earnings in 2023 and 2024.

"Trump SPAC Deal Nears End Days: Will Sept. 5 Mark Its Demise?" by Chris Katje details the upcoming deadline for the Trump Media & Technology Group and Digital World Acquisition Corporation merger. If a shareholder vote on September 5th does not approve an extension, the deal is at risk of liquidation.

For more bearish takes from last week, be sure to check out these posts:

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FutureCar Staff