Last week was the stock market’s best week of the year — thanks to the Fed giving investors hope for interest rate cuts still to come.
We have already seen how artificial intelligence has revolutionized the technology sector and the markets. Here’s what to watch in the markets this week.
GameStop earnings
Global video game retailer GameStop will release its earnings report Tuesday. The company is aiming to diversify its production, as its video gaming business has become outdated.
GameStop stock reached its peak in 2021 when a group of small investors, encouraged by the Reddit community WallStreetBets and helped along by an Elon Musk tweet, caused shares to skyrocket 1,000% in two weeks. The price hit a record high of $483 per share.
GameStop has not experienced significant growth in some time — it’s now trading at around $13 per share. Revenue performance and operating margins will be important to monitor in the upcoming report, as they may affect the stock price.
The AI stock rally keeps rallying
Google, Apple, Microsoft — everyone wants a piece of AI.
Apple wants to integrate AI, Google parent Alphabet is already working on it, and AI chip firms like Nvidia and Micron are experiencing stock surges — and the hype is unlikely to die down anytime soon. In fact, it could just extend outwards.
Apple, Alphabet, Nvidia, and Micron were star stock performers last week, ending the week with 0.5%, 2%, 3%, and 0.3% jumps, respectively.
Don’t forget Trump
Donald Trump’s Truth Social merged with Digital World Acquisition Company on Friday, which could mean a multi-billion dollar windfall for the former president as he tries to return to the White House.
DWAC stock quickly dropped 12%. Now the newly merged company, Trump Media, is set to begin trading Monday under the new stock ticker DJT.