Wall Street Looks to Rally for 2nd Week of 2024

Plus, a look at some of our 2024 top stock picks

Deputy Editor
Jan 12, 2024 at 2:34 PM
facebook X logo linkedin

Wall Street is looking to bounce back from last week's slump with healthy wins. Things began relatively strong, with the Nasdaq Composite (IXIC) and S&P 500 index (SPX) surging as investors bought the dip in tech, amid retreating Treasury yields. Stocks mostly managed to overcome Tuesday's midday slump, though the Dow Jones Industrial Average (DJI) shed triple digits as investors await highly-anticipated inflation reports. A rally quickly followed, however, after data showed wholesale inventories fell in November.

Heading into the latter part of the week, U.S. market finished just near breakeven as traders digested a slightly-higher-than-expected consumer price index (CPI) and higher Treasury notes. By Friday afternoon, all Wall Street was trading substantially lower, but still heading for its first weekly win of the year.

Don't Miss These 2024 Top Stock Picks

Schaeffer's top 2024 stock picks are out now. Food delivery concern DoorDash (DASH) sports a an intriguing entry point for investors looking to target a growing company leading in its market. Pharma giant Gilead Sciences (GILD) could soar on the charts thanks to an unwinding of analysts' pessimism. Those looking for a potential "turnaround play" should consider software robotics stock UiPath (PATH). Finally, internet of things stock Samsara (IOT) just completed a bullish cup-and-handle pattern on the monthly chart.

New Year, New Corporate Moves

Analysts have been busy in the first month of the year. Citigroup downgraded streaming giant Netflix (NFLX) due to what it perceives as lofty expectations on Wall Street. CrowdStrike (CRWD), meanwhile, jumped to two-year highs after an upgrade to "overweight." Elsewhere, Goldman Sachs (GS) pointed towards a weak backdrop that could weigh on e-commerce concern Etsy (ETSY) in its bear note. Rounding things out, Pizza Hut's parent Yum! Brands (YUM) was downgraded to "equal weight," Bloom Energy (BE) was upgraded to "outperform," and Chewy (CHWY) was upgraded to "overweight."

More Bank Earnings, Economic Indicator On Tap

Another holiday-shortened week is ahead, but a deluge of economic indicators will be released. In addition, earnings from financial intuitions will be released for investors to parse. Plus, 15 stocks that are overdue for upgrades, and why now is the perfect time to hedge against a short-term pullback.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI