Tuesday Dec. 24, 2024 - Nvidia on the move
Best Stocks Now with Bill Gunderson
Deep Dive
What is the current status of the Dow, S&P 500, and NASDAQ on December 24, 2024?
The Dow is up 94 points to 43,000, the S&P 500 is up 30 points to 6,004, and the NASDAQ is up 152 points to 19,917. All indexes are near their yearly highs.
Why are interest rates a concern for the market on December 24, 2024?
Interest rates are nearing their 52-week high at 4.62%, close to the 4.70% high. Rising rates can restrict the economy and negatively impact valuations, especially with elevated P/E ratios.
What is the significance of NVIDIA's performance on December 24, 2024?
NVIDIA is up to $141, trading in a sideways band between $132 and $152. It has a 47 forward P/E ratio and is considered undervalued with significant upside potential. It is held in multiple portfolios due to its strong growth prospects.
What is the impact of higher interest rates on the market in 2024?
Higher interest rates, despite Fed cuts, have been a surprise in 2024. They put pressure on valuations and could lead to restrictive economic conditions if they break above 4.70% and head towards 5%.
What is the performance of the top NASDAQ stocks in 2024?
The top NASDAQ performers in 2024 include AppLovin (up 755%), NVIDIA (up 172%), Broadcom (up 97.8%), Constellation Energy (up 94.2%), and Netflix (up 86.7%).
What is the outlook for the S&P 500 in 2024 according to Citigroup?
Citigroup has a target price of 6,500 for the S&P 500, which is lower than other firms targeting around 7,000. Earnings estimates for 2024 are around $270, compared to $240 in 2023.
What is the significance of Rumble's performance on December 24, 2024?
Rumble surged 81% after an investment by Tether, a stable cryptocurrency backed by U.S. dollars. It is up 11% on December 24, but its user base is significantly smaller compared to YouTube.
What is the concern regarding Pakistan's missile development in 2024?
Pakistan is developing a long-range ballistic missile system capable of striking the U.S., raising geopolitical concerns. This development adds to global security risks.
What is the performance of the S&P 500 equal weight versus cap-weighted in 2024?
The S&P 500 equal weight is up 11.7% year-to-date, while the cap-weighted S&P 500 is up 25.3%. The difference is driven by dominant performers like Tesla, NVIDIA, and Palantir.
What is the outlook for Netflix on December 25, 2024?
Netflix will stream live football games on Christmas Day, marking a significant move into live sports. This follows a previous attempt with a boxing match that faced technical issues.
- Market indices near yearly highs
- Interest rates approaching 52-week high
- Discussion of Christmas rally prediction
- Impact of higher interest rates on valuations