Week Ending January 24th, 2024 
Market Moves 
Weekly Recap

• U.S stocks exploded as Trump entered White House for a second term. The new Trump era officially kicked off on Monday and major indexes were seeing green the next day after reopening. The Dow Jones Industrial Average rose back above 44,000 and the S&P 500 topped the 6,000 level. The Nasdaq Composite climbed about 0.6%.
• Tariffs still remain a concern. President Trump hinted late Monday that he was looking at imposing 25% duties for Mexico and Canada starting Feb. 1.
• The treasury fell. The 10-year Treasury yield fell about 4 basis points to around 4.57% on Tuesday, recovering somewhat from a deeper drop in Asia trading.
• Netflix shares skyrocketed. The streaming giant's stock rose after subscriber growth blew away forecasts.
• Apple shares fell on downgrades. Apple stock fell nearly 4% Tuesday after a slew of Wall Street downgrades. Jefferies analyst Edison Lee downgraded its rating on Apple's stock to Underperform and decreased his price target on Apple stock by 13% to $200.75. Loop Capital also downgraded Apple's stock from Buy to Hold, with a revised price target of $230, down from $275.
• Oil prices dropped. Oil prices fell lower on the prospects of a tariff war and an executive order being signed that declared a "national energy emergency" aimed at deregulating the industry and boosting domestic production.
• Bitcoin hovered over $100k. A bitcoin strategic reserve under President Trump is a real possibility, says a crypto expert. "I think he is excited about it. I mean, he really wants to be the first bitcoin president," Coinbase (COIN) CEO Brian Armstrong told Yahoo Finance at the World Economic Forum in Davos, Switzerland.
• Oracle shares jumped on AI prospects. The company soared as much as 6% Tuesday after a report said the company is set to be part of a $500 billion investment in AI infrastructure.
• Homebuilder DHI stumbled. DR Horton tumbled on Tuesday morning after the builder reported weaker-than-expected home orders for its fiscal first quarter but affirmed its full-year guidance and delivery projections.
• Tesla sank after pro-EV policy was erased. The electric vehicle maker dropped more than 4% in early trading Tuesday after President Trump scrapped a pro-EV policy put into place by his predecessor.
• 3M Co saw big gains. The company forecast profit growth for 2025 and beat fourth-quarter estimates as the U.S. industrial conglomerate benefited from efforts to revive sales and reduce costs, sending its shares up 4.6%.

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"The US actually has reserves in lots of things, gold, oil, I think, like 27 different rare minerals, like palladium and all these things. And so I think the world is moving to a bitcoin standard for money. Any government who holds gold should also hold bitcoin as a reserve." 

- Coinbase CEO Brian Armstrong

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Most Active Stocks

• Netflix (NFLX)
• Apple (AAPL)
• Oracle (ORCL)
• Rigetti Computing (RGTI)
• United Airlines Holdings (UAL)
• Rocket Lab USA (RKLB)
• Tempus AI (TEM)
• Nvidia (NVDA)
• Guardant Health (GH)
• Tesla (TSLA)

Weekly Notables

Netflix Shares Explode on Subscriber Growth

Shares of Netflix soared over 14% in after-hours trading on Tuesday after the streaming giant reported 18.9 million users in the fourth quarter. Revenue and earnings also beat expectations, and the company announced a $15 billion stock buyback as well as boosted its full-year revenue outlook. 2025 revenue is projected in between $43.5 billion to $44.5 billion, ahead of the prior $43 billion to $44 billion range.

JetBlue Becomes First Company to Take Venmo for Online Booking

In a very first for airlines, JetBlue is now accepting Venmo payments for flights. Venmo payment options are available on the airline’s website and will roll out on their mobile app “in the coming months,” the carrier announced on Tuesday. JetBlue passengers can purchase flights through their Venmo balance or linked bank accounts, debit cards and credit cards.

Earnings Spotlight: Johnson & Johnson 

Healthcare giant Johnson & Johnson is set to release its fourth-quarter 2024 financials today. Wall Street analysts expect the company to report earnings of $2 per share, representing a 13% decrease year-over-year. In contrast, revenues are expected to grow by 5% from the year-ago quarter to $22.45 billion, according to data from TipRanks.