Chicago, IL – December 17, 2024 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: Direxion Daily TSLA Bull 2X Shares TSLL, Direxion Daily GOOGL Bull 2X Shares GGLL, Direxion Daily AVGO Bull 2X Shares AVL and Direxion Daily Consumer Discretionary Bull 3X Shares WANT.
Wall Street delivered mixed performance last week. The S&P 500 lost 0.6%, the Dow Jones retreated 1.8% and the Nasdaq added 0.3%. Last week saw the release of the all-important inflation reports.
Consumer inflation in the United States increased the most in seven months in November. The Consumer Price Index grew at an annual rate of 2.7%, up from 2.6% growth in October and in line with economists' expectations. Core prices were up 0.3% on a month-to-month basis, the biggest increase since April (read: 4 ETF Areas Hit One-Year High Amid In-Line November Inflation).
Wholesale prices increased 3% in November, the sharpest year-over-year rise since February 2023. Excluding volatile food and energy prices, so-called core producer prices rose 0.2% from October and 3.4% from November 2023.
Despite these reports, the market outlook for a 25-bp rate cut this week strengthened, with traders raising the odds to 96%, according to the CME Group’s FedWatch measure. The probability of a January reduction, however, fell to 18.5%, down from 19.8% one month ago.
Against this backdrop, below we highlight a few leveraged exchange-traded fund (ETF) that topped the performance chart last week.
Teslastock added 9.6% last week as the stock hit an all-time high. CEO Elon Musk's perceived influence on the incoming Trump administration has bolstered investor confidence in Tesla's future prospects. Tesla shares have reflected the top performer of the Mag 7 group over the last three months, gaining about 80% during the period.
The company announced it sold 21,900 electric vehicles on the mainland during the first week of December—the highest weekly sales recorded in Q4. Tesla’s strong performance has prompted multiple analysts to increase their price targets, lately (read: Tesla Stock Hits All-Time High: ETFs to Ride the Momentum).
Alphabet shares added 8.7% last week as the company unveiled its breakthrough quantum computing chip – Willow. Google claims its new chip takes five minutes to solve a problem that would currently take the world's fastest super computers ten septillion years to complete. However, the chip is apparently in an experimental stage.
Broadcom surged 24.4% on Friday — its best single-day performance ever — on the back of upbeat earnings results. The company reported a record fiscal year 2024 revenue of $51.6 billion, a 44% year-over-year increase, driven by a 220% surge in AI-related revenue to $12.2 billion and strong performances in the semiconductor and infrastructure software segments.
Broadcom announced an 11% increase in its quarterly dividend to $0.59 per share for fiscal 2025, marking the fourteenth consecutive annual dividend increase since 2011.
In the fourth quarter of 2024, US consumer optimism touched its highest level since before the COVID-19 pandemic. Consumer optimism in the United States increased six percentage points, reaching 47% in the fourth quarter. Optimistic economic indicators, such as low unemployment rates, stable job growth, and rising wages—as well as a swift outcome in the US election—likely helped fuel this optimism.
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.