Stock Market Poised For Big Milestones On This Week 2024 Know What Are The Ones To Watch?

Stock Market Poised For Big Milestones On This Week

The stock market is currently on the verge of achieving significant milestones. After a period of volatility and uncertainty, it seems that the market is now poised for a breakthrough. Several key indicators and trends suggest that the stock market is ready to reach new heights. Analysts have predicted that major stock indexes are likely to hit record highs in the near future. This optimism is fueled by various factors, including positive economic data, strong corporate earnings, and promising developments in global markets.

Stock Market Poised For Big Milestones

The year 2024 is shaping up to be a wild ride for the stock market, with a number of key developments lined up for the week, including a major shake-up among the world’s largest companies and a possible record-setting peak for the benchmark index.

Stock Market Latest Key – Information

The tech-heavy Nasdaq Composite is within a whisker of its intraday all-time high (4,818) of January 2022 and is even closer to its record closing price (4,796) of the same month. Last week, the benchmark index crossed the 4,800 mark for only the second time in the past two years. Microsoft, which last week overtook Apple to become the first company to reach $3 trillion in market capitalization in 2021, is just 3% away from becoming the first company to ever reach $3 trillion.

Meta stock Update

Meta stock is also on a tear, with the company that used to be known as Facebook only 3% away from hitting a record high, and just 5% away from crossing the $1 trillion mark for the first time ever. In another potential shake-up among the worldโ€™s biggest companies, pharmaceuticals and weight loss drug giant Eli Lilly is now less than a billion dollars in market cap away from edging out electric vehicle maker Tesla. Two years ago, the market valued Tesla around $800 billion dollars more than Eli Lilly.

Background Information

With the holidays in full swing, there hasnโ€™t been much in the way of market-moving economic news so far this week. With the S&P flirting with all-time highs and big tech companies testing record valuations, the stock market has staged a surprising recovery from its worst drought in 14 years in 2022. But it hasnโ€™t come without pain for investors who havenโ€™t been exposed to the market-making power of big tech.

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For example, the Russell 2000, a benchmark of 2,000 U.S. public companies with an average market cap of just under $1 billion, has fallen about 20% since its 2021 peak. The Bloomberg aggregate bond index โ€” which measures returns on corporate and government bonds โ€” has fallen nearly 10% since its 2021 high.

What to watch or Do?

Earnings season kicked off Friday with the release of quarterly earnings by major banks, and is expected to remain a major focus for markets in the coming weeks. According to Morgan Stanley, about 60% of the S&P500 companies are expected to report earnings in the coming three weeks. Tesla is scheduled to report on January 24th, Microsoft on January 31st and Apple and Meta on February 1st.

Stock Market Recent Updates

Additionally, the recent advancements in technology and the increasing adoption of digital platforms have contributed to the growth of the stock market. Investors are eagerly anticipating these big milestones, as they signal a healthy and thriving economy. However, it is important to note that the stock market is inherently unpredictable, and fluctuations are part of its nature. Nonetheless, the current outlook is positive, and investors are cautiously optimistic about the potential for significant achievements in the stock market.

Summary

The stock market is set to achieve significant milestones this week in 2024. Investors and traders are closely monitoring various stocks to identify the ones to watch. This summary provides a comprehensive overview of the stocks that should be on your radar. Keep an eye on these companies as they could potentially make significant moves and impact the market. Stay informed and make well-informed investment decisions during this exciting week in the stock market.

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