MarketBeat Week in Review – 11/4 - 11/8

Markets rallied strongly this week as investors got a clear outcome in the presidential election and an expected interest rate cut by the Federal Reserve. Is this a relief rally, the continuation of a Trump trade, or the beginning of a longer bull market? That question will be answered over time, and it wouldn’t be surprising to see some profit-taking as investors start rebalancing their portfolios for 2025.  

For now, money is coming into the market based on the expectation of public policy, which will mean lower taxes and less regulation, which is historically bullish for stocks. However, the market’s momentum may be tested next week when the next readings of the consumer price index (CPI) and producer price index (PPI) are released. The trend has been inflationary, and if that trend continues, it may temper expectations for the pace of interest rate cuts in 2025.  

A key takeaway for investors is that now is the time to be in the market, and MarketBeat would love to help you. Whether you’re a short-term trader or a long-term investor, our team of analysts will stay on top of the stocks and stories moving the market. Here are some of our most popular stories from this week.  

Articles by Jea Yu 

The cruise line industry has seen a strong recovery in 2024, with many carriers reporting demand levels exceeding 2019 levels. This week, Jea Yu analyzed Royal Caribbean Cruises Ltd. (NYSE: RCL) and Carnival Co. & plc (NYSE: CCL). The two cruise lines have different business models, and Yu explained how that affects the upside for each stock.  

Investing in biotech companies, particularly clinical-stage companies, carries risk as long-term investments. But Yu explained why nimble traders may want to watch Summit Therapeutics Inc. (NASDAQ: SMMT) closely. The stock is up over 700% in 2024 but may have room to move higher as its lead candidate shows signs of performing better than industry-leading Keytruda in lung cancer treatment.  

It’s been a rough year for battery companies, as the market is oversupplied. But Yu explained why this may be a good time to look at Enovix Co. (NASDAQ: ENVX). The company is on track to ramp up production of its next-generation silicon-anode lithium-ion batteries, which can meet the enhanced power demands of AI-powered devices.  

Articles by Thomas Hughes 

Many investors are betting on how the stock market will perform in 2025 after Donald Trump's election. This week, Thomas Hughes explained Trump’s proposed policies and their potential impact on stocks in the coming year. 

Whatever policies Trump implements shouldn’t affect the outlook for gold. That’s because the tailwind for gold has been government spending and lower interest rates. Both conditions are expected to be in place in 2025, and Hughes explained why that means gold prices should continue to rise in 2025. 

Weight loss drugs have been one of the best-performing categories of stocks in 2024. Eli Lilly & Co. (NYSE: LLY) is one of the leading names. However, as that trade gets more crowded, Hughes explained there are other reasons analysts are raising their outlook for LLY stock in 2025.  

Articles by Sam Quirke 

Intel Corp. (NASDAQ: INTC) has been one of the worst-performing stocks in 2024 as the company can’t seem to keep up with its competitors. However, Sam Quirke explained why a solid earnings report and improving analyst sentiment are reasons to believe it may be time to be greedy while others are fearful.  

Turning his attention to the chip sector, Quirke was looking at another turnaround story. The bottom fell out on Qualcomm Inc. (NASDAQ: QCOM) after the stock hit an all-time high in June. Quirke explained why a strong earnings report is starting to create a bullish setup for QCOM stock in 2025.  

Could Trump be ushering in the crypto presidency? The surge in Bitcoin and Ethereum since the election would seem to suggest it is. Coinbase Global Inc. (NASDAQ: COIN) is a way to get exposure to this market without direct speculation in digital assets. Quirke gave readers two reasons to consider COIN stock and one reason they may want to stay on the sideline.  

Articles by Chris Markoch 

Palantir Technologies Inc. (NYSE: PLTR) led the week with another blowout earnings report. While questions remain about the stock’s valuation, Chris Markoch explained why the stock crossing $50 isn’t surprising and why there may still be time for investors to get on board. 

Investors looking for a lower price tag (at least on paper) may want to look at one of the three stocks under $20 that Markoch highlighted because they carry Strong Buy ratings from analysts.  

Markoch also wrote about the recent earnings reports for Merck & Co. Inc. (NYSE: MRK) and Bristol-Myers Squibb Co. (NYSE: BMY). The reports were similar, but analysts have different views on each stock.  

Articles by Ryan Hasson 

The last two months of 2024 may turn out to be a fantastic opportunity for momentum traders. This week, Ryan Hasson wrote about two opportunities for traders to consider. First, there’s the Trump trade. Hasson explained which three sectors have been posting the largest gains since the election and why investors may want to wait for a pullback before getting involved. 

The other area for momentum traders may come from “riding the hot hand.” In this case, Hasson looks at the five best-performing S&P stocks in 2024 and why they may have room to run higher.  

If we’re entering a bull market, there are plenty of stocks for buy-and-hold investors to consider. Hasson wrote about three food and beverage names among consumer staples stocks and consumer discretionary stocks with a history of long-term growth and solid dividends.  

Articles by Gabriel Osorio-Mazilli 

If you’re feeling a little FOMO right now, you’re not alone. However, it’s important to understand which stocks have real potential. This week, Gabriel Osorio-Mazilli highlighted three technology stocks on which options traders are making big bets. Osorio-Mazilli explained what those traders may see to help you understand the opportunity. 

Many analysts have predicted that small-cap stocks would lead a new bull market. The performance of the Russell 2000 since the election proves them right. With that in mind, Osorio-Mazilli highlighted three Russell 2000 stocks that traders may want to target. 

And if you’re still not sure about stocks, Osorio-Mazilli explained why there’s still time to get involved with gold. The precious yellow metal is already at all-time highs, and Osorio-Mazilli explained why $3,000 an ounce – and maybe higher – is still in play. 

Articles by Leo Miller 

Many investors may wish they could invest in Elon Musk’s SpaceX as the company deploys an increasing number of its Starlink satellites. However, SpaceX isn’t publicly traded. But imitation is the sincerest form of flattery, and competition is bringing this space into being. This week, Leo Miller analyzed two of the largest companies in two of the world’s largest countries, which are making moves to take market share from SpaceX.  

Miller also wrote about the recent price action in SoundHound AI (NASDAQ: SOUN), which is focused on developing AI speech recognition. SOUN stock is up more than 220% in 2024 as NVIDIA Corp. (NASDAQ: NVDA) is on board as a partner. And with earnings coming up on November 12, investors may want to know if there’s still room to get involved. 

The GLP-1 trade is getting crowded. This week, Miller wrote about why Altimmune Inc. (NASDAQ: ALT) is on investors' radars. The company’s lead GLP-1 candidate is in clinical trials and is showing an ability to combat the muscle loss that is a side effect of current GLP-1 treatments. The drug will be in trials for some time, but this may be an opportunity for patient, long-term investors who have capital to put in the market.  

Articles by Nathan Reiff 

The holiday season will soon be upon us. For investors, that means looking at retail stocks that may outperform their competitors. Nathan Reiff tackled that topic this week, highlighting three retail stocks that have held up well this year and explaining why one may stand above the crowd. 

Renewable energy stocks are under pressure, and there are expectations that they will be out of favor in a second Trump administration. However, Reiff explained why there still may be an opportunity with First Solar Inc. (NASDAQ: FSLR). The stock tumbled after a weak earnings report in October. But the solar industry is growing, and despite regulatory pressure, there may be an opportunity for nimble traders.  

What does the future hold for hydrogen stocks? It’s a question that’s been asked for years and one that Reiff took on this week. While others are looking at nuclear stocks, hydrogen also offers a path to clean energy. With an uncertain payoff, investors would be well served to focus on the best-in-class names like the three hydrogen stocks that analysts continue to back.   

The article "MarketBeat Week in Review – 11/4 - 11/8" first appeared on MarketBeat.