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Stock indexes were mixed this week as investors and traders assessed a wave of economic data, including a slight upward revision in the Commerce Department’s first-quarter GDP growth forecast to 1.4%.
Meanwhile, both the PCE composite and core indices Inflation eased in May and was in line with expectations: The core PCE price index rose 0.1% from the previous month to its lowest reading since November 2023, strengthening the case for the Federal Reserve to cut interest rates this year.
The S&P 500 (SP500) rose. 14.16% Stock prices are expected to continue to rise in the first half of 2024, driven by a surge in tech stocks fueled by the AI ​​boom. Wall Street’s major stock indexes have continued to hit record highs, hitting 32 intraday record highs in the first half of the year.
This week, President Joe Biden and former President Donald Trump faced off in the first debate of the 2024 election season. However, much of the discussion centered on the attitude and consistency (or lack thereof) that each candidate displayed onstage. Perceptions that Trump won also boosted the dollar slightly.
Here are some trending stocks for this week.
of stocks Trump Media & Technology Group (Nasdaq:DJT) popped out 11% A flash CNN poll this week showed the Republican candidate outperforming President Biden in the first presidential debate: In a poll of registered voters who watched the debate, 67% thought Trump performed better compared to 33% for Biden.
Nike(NYSE:NKE) Stock prices plummeted twenty three% The sportswear company issued its guidance this week after a weaker-than-expected outlook sparked investor concern about waning demand for its brands. It said it expects revenue to fall this quarter due to tough macroeconomic conditions and a persistent slowdown in China.
Micron Technology (Nasdaq:MU) also attracted attention after announcing better-than-expected third-quarter results. 8% The stock has fallen this week as investors assessed the company’s disappointing guidance.
Amazon (Nasdaq:AMZN) shares surpassed $2 trillion in market capitalization for the first time on Wednesday, due in large part to the company’s Rivian (Nasdaq:RIVN) public offering and the frenzy around artificial intelligence. The tech and retail giant became the only U.S. company to join Google-parent Alphabet (GOOG) (GOOGL), iPhone maker Apple (AAPL), OpenAI-backer Microsoft (MSFT), and semiconductor giant Nvidia (NVDA) in the $2 trillion market cap club. The e-commerce giant ended the trading week with a market cap of $1.97 trillion.
Rivian Automotive (RIVN) stock price surges 30% This week, the electric vehicle maker announced a joint venture with Volkswagen (OTCPK:VLKAF) to develop next-generation electric architecture and best-in-class software technology, after Volkswagen (OTCPK:VLKAF) will invest $5 billion in Rivian as part of the deal.
Whirlpool (NYSE:WHR) Stocks rise 12.6% The move comes after reports that German engineering firm Robert Bosch is considering a bid for the U.S. home appliances maker, following speculation earlier this month that the company was interested in a takeover.
Vista Outdoor (NYSE:VSTO) climbed 8% The company revised its offer after MNC Capital raised its takeover offer for sporting goods company Kinetic to $42 a share from $39.50 this week. The revised offer came after Vista Outdoor confirmed on Monday that it had amended its deal to sell Kinetic Group to the Czechoslovakian group for $2 billion, $40 million more than its previous offer.
Walgreens Boots Alliance (Nasdaq:WBA) The stock price fell twenty four% The retail pharmacy chain lowered its profit outlook for this year due to tough conditions across the retail industry. The company now expects earnings per share of $2.80 to $2.95 for fiscal 2024, down from $3.20 to $3.50 previously and below the consensus estimate of $3.20. The Wall Street Journal Walgreens (WBA) is planning large-scale store closures this year, it was reported Thursday.
Boeing (NYSE:BA) is also in the spotlight after the ongoing investigation into the Alaska Airlines Flight 1282 door plug explosion hit a new roadblock after the NTSB sanctioned the plane maker, Boeing, for disclosing nonpublic information from the investigation during a recent press conference. The investigative agency warned that it could lose its status as a party to the investigation if it violated its rules again.
FedEx (NYSE:FDX) Jumped 18% The company reported strong fourth-quarter earnings and an upbeat revenue outlook this week. The Memphis-based shipping giant now expects low- to mid-single-digit revenue growth in 2025 and EPS of $20.00 to $22.00, versus the consensus estimate of $20.75.
More on this week’s trending stocks:
