The Final Week Of 2024 Is Finished
NEWS
The Final Week Of 2024 Is Finished
Source: Tenor.com
Despite stocks having their worst down day of the holiday season, the market managed to eke out a small gain for the shortened week. Big tech led to the downside, with traders continuing to focus on small-cap names and crypto that continued their recent runs. With two days left in 2024, the focus has largely shifted to mapping out and preparing for an eventful 2025. 👀
Today’s issue covers crude oil’s price coil, Trump looking to stop the clock on the TikTok ban, and other noteworthy pops and drops. 📰
Here’s the S&P 500 heatmap. 0 of 11 sectors closed green, with energy (-0.01%) leading and consumer discretionary (-1.65%) lagging.
Source: Finviz.com
And here are the closing prices:
|
S&P 500 |
5,971 |
-1.11% |
|
Nasdaq |
19,722 |
-1.49% |
|
Russell 2000 |
2,245 |
-1.56% |
|
Dow Jones |
42,992 |
-0.77% |
Most bullish/bearish symbols on Stocktwits at the close: 📈 $KORE, $BSLK, $VINC, $FAAS, $PGNY 📉 $KC, $AGIO, $WTI, $ZJYL, $SRNE*
*If you’re a business and want to access this data via our API, email us.
COMMODITIES
Crude Oil Coils Into 2025 😬
It’s been a rough year for the energy sector. The S&P 500 energy sector is up just 4.20% year-to-date, making it the third-worst performer behind healthcare and materials. 🔻
Crude oil futures hit their lowest level of the year in September, but now traders are flagging the asset once again as it stabilizes back near the price it began the year at. Technical analysts say this “triangle” pattern suggests this contraction of prices into a tighter and tighter range will resolve sharply…but it’s unclear in which direction. 🤷
Source: TradingView.com
When looking at Stocktwits data, it appears retail investors and traders are looking for an upside resolution into 2025. Sentiment for crude oil ETF $USO is in ‘bullish’ territory, while the energy sector ETF $XLE nears ‘extremely bullish’ territory.
There have been plenty of catalysts to send oil prices lower this year, with none of them panning out quite as well as bears had anticipated. Now, with the tide turning and economic growth in the U.S. and abroad holding up better than anticipated, some see a fundamental tailwind for prices to turn higher.
We’ll have to wait and see how it plays out. But after a lackluster 2024, energy commodities and stocks are clearly on investors’ and traders’ radars as we head into the new year. It’s also on the Fed’s radar, as it looks to keep a lid on sticky inflation readings. 👀
PRESENTED BY STOCKTWITS
The Weekend Rip With Ben & Emil 🎁
In the final episode of 2024, Ben and Emil wrap up another wild year on Stocktwits, covering the biggest retail investor and trader trends, the market’s top performers, and predictions for 2025 that you don’t want to miss! 🤩
STOCKS
Other Noteworthy Pops & Drops 📋️
HomeStreet Inc. (+3%): HomeStreet Bank announced that the lender is selling $990 million worth of multifamily real estate loans to Bank of America.
Color Star Technology (-10%): The company appointed UAE royal Shaikh Humaid Abdulla Rashed Ahmed Almualla as an independent director, sparking retail chatter.
CBAK Energy Technology (+19%): The firm announced that its subsidiary Nanjing CBAK New Energy Technology Co. has won significant orders from Chinese intelligent hardware brand firm Anker Innovations Technology Co.
Zoomcar Holdings (-16%): The firm reported a 43% year-on-year growth in bookings for November, attributing the growth figure to a “survey” it conducted. Growth in bookings was driven primarily by a surge in demand during the wedding season.
Amedisys Inc. (+5%): The home health and hospice care provider has opted to extend its merger deadline date with UnitedHealth Group to the end of 2025 as the Department of Justice (DOJ) stiffly opposes the consummation.
Rigetti Computing (+9%): Shares hit new all-time highs amid growing interest in quantum computing stocks, fueled by technological advancements.
Exicure -(3%): The micro-cap early-stage biotech announced a deal to acquire a cancer drug pipeline from a South Korean company.
Surf Air Mobility Inc. (+1%): Rose as much as 7% before reversing, driven by news that its board members purchased stock from the open market.
POLICY
Trump Looks To Stop The Clock On TikTok Ban ⌛️
President-elect Donald Trump has asked the Supreme Court to pause the implementation of a law that would ban TikTok in the U.S. on January 19th if the app is not sold by its Chinese parent company. ⏸️
The original decision was driven primarily by the Protecting Americans from Foreign Adversary Controlled Applications Act, a bipartisan measure passed by Congress and signed into law last April.
“President Trump takes no position on the underlying merits of this dispute,” wrote D. John Sauer, Trump’s lawyer who is also the president-elect’s pick for U.S. solicitor general. “Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case, thus permitting President Trump’s incoming Administration the opportunity to pursue a political resolution of the questions at issue in the case.”
With geopolitical tensions escalating between the U.S., China, and others around the globe, the new administration’s decisions around these existing laws (and new ones) will be critical to mapping out global trade going forward. 🤔
U.S.-based social media companies like Meta, Snapchat, Pinterest, and others have seen an uptick in valuation on the assumption that they’d have one less competitor to deal with in 2025. With Trump adding another variable to this high-profile case, these stocks will remain on investors’ radars as the courts decide the fate of TikTok in the weeks and months ahead. 🧭
PRESENTED BY STOCKTWITS
The Perfect Holiday Watch Party Movie 👀
Remember Glauber “Pro” Contessoto, aka “The Dogecoin Millionaire?” With crypto roaring back like it’s 2021 again, his name is making a comeback alongside Dogecoin’s price as retail looks for a repeat of the ‘meme coin’ mania. 🤑
His story was captured in a film nominated for ‘Best Documentary’ at the 2024 Astra Awards. And we’ve officially rolled it out in four digestible parts right on the Stocktwits YouTube channel, just in time for the holidays
See how THIS IS NOT FINANCIAL ADVICE exposes the risks and rewards of today’s market through expert commentary and the anxiety-inducing stories of real people trying to make millions. It’s the perfect holiday watch for market lovers. 🍿
COMMUNITY VIBES
One Tweet (Thread) To Sum Up The Year 👀
‘Tis the season for Stocktwits Wrapped! 🎁
Before you unwrap gifts, it’s time to wrap up 2024…
This year was truly one for the books and it wouldn’t have been the same without YOU 🫵
As we gear up for an even bigger and bolder 2025, let’s take a moment to celebrate the year… x.com/i/web/status/1…
— Stocktwits (@Stocktwits)
4:56 PM • Dec 24, 2024
Links That Don’t Suck 🌐
🗓️ Get a head start on your 2025 investing resolutions with 1 month of Leaderboard for only $29*
🤖 OpenAI confirms plans to separate its nonprofit and for-profit arms
📺️ Ad revenue should stabilize for media companies in 2025 — if they have sports
🤦 Delta apologizes – again – after another stowaway boards a flight without ticket
👮 Montenegro approves the extradition of cryptocurrency mogul Do Kwon to the United States
📱 Chinese hackers used broad telco access to geolocate millions of Americans and record phone calls
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
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