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U.S. stocks rose on Wednesday morning ahead of the 2024 club’s first monthly meeting as investors analyzed a slew of returns and weighed the impact of the Federal Reserve’s next possible move. January started with a downturn in the Big Tech industry, led by Apple. Shares in the consumer technology giant fell nearly 4% on January 2, the biggest single-day drop in four months, following an unusual sell call from analysts at Barclays. Apple posted a 48% profit in 2023, but then cut its losses in early 2024. The broader market has followed the ups and downs of technology. After lagging, the S&P 500 and blue-chip Dow posted their second consecutive week of wins. The Dow traded at an all-time high on Monday. Meanwhile, the S&P 500 index hit a new all-time high for the third consecutive time on Tuesday. A soft landing for the US economy is increasingly likely. Here are the top stocks since the last meeting, from market close on Dec. 19 through Tuesday’s trading session. Note: We have not included Bausch Health, one of his top performers, given the company’s legal overhang and the stock’s rating of 4. NVDA YTD Mountain Nvidia (NVDA) Year-to-date performance No. 1 is his Nvidia. Semiconductor stocks have risen 20.7% since the December monthly meeting. Meta Platforms’ stock price rose sharply after CEO Mark Zuckerberg said the company was spending billions of dollars on Nvidia’s AI chips. The chipmaker continues to dominate the market for graphics processing units (GPUs) used in his early AI technology, giving the company’s stock an even brighter outlook. Of course, Nvidia was his big success story in 2023. The stock was the best performer in the S&P 500, soaring 239% for the year. The club, along with seven other 2023 tech winners, sold a small stake on Jan. 2. While we remain very bullish, we think it makes sense to lock in some profits and see opportunities in other segments of the market as investors who may take a breather by understanding the mega-cap winners. Because I’m looking for it. PANW YTD Mountain Palo Alto Networks (PANW) Year-to-date Performance Palo Alto Networks rose 11.5% to secure second place on signs of solid demand for Palo Alto’s one-stop shopping for cybersecurity. New regulations from the Securities and Exchange Commission (SEC) require publicly traded companies to disclose “material cybersecurity incidents” to shareholders, and require executives across the country to ensure the safety of customer data and systems. gives even more urgency to Shares rose further after Microsoft revealed on Friday afternoon that Russian hackers had been targeting employee email accounts since November 2023. JPMorgan analysts said other industry companies comparable to Palo Alto and Microsoft’s $20 billion cybersecurity franchise could also benefit from the breach. Customers may have a “higher level of caution regarding over-reliance on her Microsoft for security.” Jim Cramer echoed Wall Street’s comments. “Palo Alto was sensational,” he added. “This stock is clearly not done” is on the rise. META YTD Mountain Meta Platform’s Year-to-date Performance Meta’s stock price rose 9.9% and he finished in 3rd place as Wall Street analysts predicted a positive outlook for the digital advertising market in 2024. Ta. TD Cowen survey of more than 50 senior US ad buyers also showed a preference for Facebook’s parent company Reels. And while it’s not a physical catalyst right now, there’s also excitement about the company’s new generation of Ray-Ban meta-his smart glasses, which Jim called “all the rage” after recently demoing the product. ” was expressed. LLY YTD Mountain Eli Lilly (LLY) Year to date performance His fourth on the list of top performers is Eli Lilly. Health care stocks have risen 8.6% since mid-December, encouraged by updates on the new weight loss drug Zepbound. CEO David Rix said the treatment led to an impressive 25,000 new prescriptions per week at the end of December. That’s significant growth considering Jefferies analysts said the drug had 7,700 weekly subscribers in the week ending Dec. 8. 5. The search and cloud giant is benefiting from expected ad spend growth on The Street, along with excitement about the company’s AI model, Gemini. Meanwhile, semiconductor stock Broadcom hit a record high last Friday as investors continue to be interested in AI. (Jim Cramer’s Charitable Trust is long: NDVA, META, PANW, LLY, BHC, META, GOOGL, AAPL, AVGO. See here for a complete list of stocks.) Jim Cramer’s CNBC Investing Club As a subscriber, you can: Receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Traders work on the floor of the New York Stock Exchange (NYSE) on January 19, 2024 in New York City. Stocks rose more than 350 points on Friday, with the S&P 500 closing at an all-time high.
Spencer Pratt | Getty Images
U.S. stocks rose on Wednesday morning ahead of the 2024 club’s first monthly meeting as investors analyzed a slew of returns and weighed the impact of the Federal Reserve’s next possible move.
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