Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
After two positive weeks for the markets, the major indexes gave back those gains this week. The S&P 500 finished down 3.37%, the Nasdaq Composite dropped by 3.99%, and the Dow Jones Industrial Average closed 2.77% lower for the week.
On Friday, the U.S. Labor Department reported a 7.4% increase in the producer price index in the month of November, down from peak growth of 11.7% in March but above a 7.2% gain economists expected.
Investors are now awaiting the Federal Reserve’s rate hike decision next week. Fed Chair Jerome Powell recently said the central bank could begin moderating the pace of rate hikes “as soon as the December meeting,” but the central bank will likely maintain the course of tightening monetary policy.
Benzinga continues to examine the prospects for many of 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.
“Is Elon Musk Unwittingly Helping Mark Zuckerberg? Why This Meta Analyst Can See Stock Doubling Within Months,” by Shanthi Rexaline, explains why Empirical Financial’s Whitney Tilson expects shares of Meta Platforms Inc (NASDAQ: META) to continue climbing after bouncing off their Nov. 4 low.
In “Robinhood Pivots From Day Trading With New Offering As Millennials, Gen Z Age Out,” AJ Fabino details a new product from Robinhood Markets Inc (NASDAQ: HOOD) that allows customers to register an individual retirement account (IRA), which will become fully available in January 2023.