Biggest S&P 500 Movers on Friday

Decliners

• Nucor (NUE) shares sank nearly 4.7%, extending losses posted in the prior session after UBS downgraded the steelmaker's stock to "neutral" from "buy." Expectations for protective trade policies under the incoming administration helped drive a rally in steel stocks following the U.S. presidential election, and analysts pointed to a less favorable risk/reward profile following those gains.
• Shares of server maker Super Micro Computer (SMCI) fell 3.9%. The move lower came as concerns intensified around the possible removal of the stock from the 澳洲幸运5官方开奖结果体彩网:Nasdaq 100. Supermicro shares have been volatile since the company delayed its annual regulatory filing amid questions about its accounting practices and the resignation of its auditing firm.

Advancers

• Broadcom (AVGO) shares skyrocketed 24.4% to an all-time high, lifting the company's market capitalization 澳洲幸运5官方开奖结果体彩网:above the $1 trillion level after the chipmaker 澳洲幸运5官方开奖结果体彩网:beat revenue and profit estimates with its fiscal fourth-quarter results. The company said its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) sales in fiscal 2024 more than tripled year-over-year, and several analysts 澳洲幸运5官方开奖结果体彩网:raised their price targets on the stock, citing its AI revenue growth. Friday's gains made Broadcom the top daily performer in the S&P 500.
• Shares of Lamb Weston (LW), a producer of frozen French fries and other potato products, jumped 6.8% following reports of buyout talks with Post Holdings (POST), the packaged goods giant known for its breakfast cereals. Lamb Weston has reportedly faced pressure from an 澳洲幸运5官方开奖结果体彩网:activist investor to explore options for selling the company.
• Walgreens Boots Alliance (WBA) shares also added 6.8%. The stock had surged earlier in the week following reports the drugstore operator is 澳洲幸运5官方开奖结果体彩网:evaluating a possible sale to private equity firm Sycamore Partners, but the shares returned some of those gains before regaining momentum on Friday.
• Arista Networks (ANET) shares climbed 5.1% to an all-time high. Citi analysts suggested the networking equipment provider could be a key beneficiary of the boom in AI demand, pointing to demand for data center switches. Arista recently completed a 4-for-1 澳洲幸运5官方开奖结果体彩网:stock split on Dec. 4.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

S&P 500, Dow Post Weekly Losses, Nasdaq Gains

The S&P 500 and Dow Jones Industrial Average lost ground this week, while the tech- heavy Nasdaq inched hiꦚgher.

The S&P finished the week down 0.6% and snapped a t📖hree-week winning streak, while the Dow shed 1.8% this week, its second straight weekly decline. The Nasdaq added 0.3% this week, gaining for the fourth consecutive we🌞ek.

The Nasdaq is also the top gainer for the year to date, up 33%, while the S&P 500 and Dow have risen 27% and 16.5%, respectively.

Apple Levels to Watch as Stock Trades Near Record High

Apple (AAPL) shares were little changed Friday, hovering near record-high levels, as optimism grows that 🎃the iPhone maker’s ܫAI features could accelerate sales growth. 

The stock has continued to trend higher after breaking out above an ascending triangle, though the move has occurred on declining weekly trading volumes, indicating tha𝄹t larger market participants may remain on the sidelin꧅es.

Bars pattern analysis forecasts a bullish price target of around $300 and projects that the stock's current move may last until late January.

Investors should watch two major support levels on Apple's chart near $237 and $197.

The stock 🌞was down fractionally at around $248 in rece🤪nt trading.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

What to Expect from Next Week's Fed Meeting

The Federal Reserve is widely expected to cut its key interest rate on Wednesday, but plans for future cuts are much more up in the air.

Fed officials could give some insight into how the central bank is digesting recent economic data showing stubborn inflation and a resilient but still-cooling labor market.

Expectations for more rate cuts next year have diminished, and incoming president Donald Trump's tariffs are an economic wildcard that could affect the Fed's monetary policy.

Read the full 澳洲幸运5官方开奖结果体彩网:Fed meeting preview here.

-澳洲幸运5官方开奖结果体彩网:Diccon Hyatt

Here's How Much Wall Street Expects Stocks to Rise in 2025

After two years of double-digit stock returns⭕, Wall Street thinks the S&P 500 is capable of a threepeat.

The average analyst estimate points to the 澳洲幸运5官方开奖结果体彩网:S&P 500 finishing 2025 at just a bit over 6,679, suggesting that the index will rise about 10% in the next calendar year based on Thursday's close, according to a report from FactSet Research ♒analyst John Bu🌜tters.

 Since its inception in 1957, the S&P 500 has 澳洲幸运5官方开奖结果体彩网:returned 10.23% a year on average.

Butters also found that Wall Street analysts dramatically underestimated the market en🅠tering 2024. The consensus at the end of 2023 was that the S&P 500 would end this year at near 5,132, more than 15% below its current level. Analysts have underestimated stocks in four of the past five years.

However, over the long term, that streak of underestimation hasn't been the norm. Wall Street has overestimated the S&P 500's annual return in 13 of the last 20 years; on average, over the past two decades, the consensus has been too high by about 7%.

The report underscores the optimism on Wall Street about the strength of the U.S. economy and corporate profits. Morgan Stanley (MS) and Goldman Sachs (GS) have forecast the S&P 500 澳洲幸运5官方开奖结果体彩网:will rise to 6,500 next year as earnings growth accelerates for a broad swath of the index.෴

The S&P 500 is on track to gain more than 20% for a second consecutive year, which hasn't happened since the 1990s. As of Thursday's close, the index was up 26.9% since the start of the year. The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average rose 16.5% in the same period and the 澳洲幸运5官方开奖结果体彩网:Nasdaq Composite has surged about 32.6%.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Broadcom Joins $1 Trillion Market Cap Club

Shares of Broadcom (AVGO) soared on Friday, launching the chipmaker iౠnto the small club of public companies 🔯worth more than $1 trillion.

Broadcom shares were up 19% in recent trading at about $215, putting the company’s market capitalization at just over $1 trillion. Broadcom is just the ninth U.S. company to reach the milestone, and is the second semiconductor company to do so. Nvidia (NVDA) became the first when it hไit $1 trillio✅n last year, and its market cap has since surpassed $3 trillion.

With Friday’s jump, Broadcom stock has nearly doubled in value this year. The advanced chip maker has seen its sales and profit soar as tech companies have rushed to develop and deploy custom AI infrastructure. The company on Thursday reported revenue from artificial intelligence 澳洲幸运5官方开奖结果体彩网:more than tripled this fiscal year to $12.2 billion. 

Chief executive Hock Tan said he sees a “massive” opportunity in AI for Broadcom. The company,😼 he said, is already working with three tech giants on custom AI infrastructure, and could see that revenue stream grow to between $60 billion and $90 billion a year by 2027.

With approximately 4.67 billion shares outstanding, Broadcom stock🐲 would need to close above $214.11 🔯to keep its $1 trillion market cap.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

Costco Rises After Earnings Top Expectations

Costco Wholesale (COST) late Thursday reported earnings that beat analysts’𒈔🤡 expectations, in its first quarterly results reflecting the impact of its hike in membership fees.

The membership-based retailer saw revenue grow 7.5% to $62.15 billion in its fiscal 2025 first quarter, just above the analy💞st consensus from Visible Alpha. Net income of $1.8 billion or $4.04 per share was up from $1.59 billion or $3.58 per share a year earlier and exceeded expectations.

Costco's 澳洲幸运5官方开奖结果体彩网:e-commerce sales increased 13%, while same-store sales were up 5.2% in t𓂃he U.S. and 5.8% in Canada. 

The quarter marks the first reflecting Costco's 澳洲幸运5官方开奖结果体彩网:increased membership fees that went into effect in September. However, executives said 澳洲幸运5官方开奖结果体彩网:last quarter&nbs💟p;that th𝓡e impact will likely be weighted to the back half of fiscal 2025.

Costco shares recently were up 1.5% at just above $1,000, near an all-time high. The stock is up 52% since the start of the year, far outpacing the S&P 500's gain of around 27%.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

RH Stock Jumps on Outlook Boost, Swing to Profit

RH (RH) shares jumped in premarket trading after t🐬he luxury home furnishings retailer boosted its full-year outlook and swung to a profit in its fiscal third quarter.

The company is forecasting revenue growth oꦿf 6.8% to 7.2% for the full year, up from its previous forecast of growth in the range of 5% to 7% .

For the third quarter, RH posted $811.7 million in revenue, up from $751.3 million in the same period last year. 澳洲幸运5官方开奖结果体彩网:Earnings per share (EPS) 🔜;at the company formerly known as Restoration Hardwar𓄧e was $1.66, a turnaround from an $0.12 loss a year earlier.

“The positive inflection of our business continued to gain momentum with third quarter demand increasing 13% despite operating in the worst housing market in 30 years,” 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Gary Friedman said in a statement.

Friedman said he doesn't expect the company's margins to be hurt by President-elect Donald Trump's plan to 澳洲幸运5官方开奖结果体彩网:hike tariffs on the U.S.'s key trading partners.

RH shares were 16% shortly before Friday's opening bell.

-澳洲幸运5官方开奖结果体彩网:Nisha Gopalan

Broadcom Levels to Watch as Stock Soars After Earnings

Broadcom (AVGO) shares are sharply higher in premarket trading Friday after the 澳洲幸运5官方开奖结果体彩网:chipmaker reported better-tha🤡n-expected earnings and issued a rosy outlook amꦯid robust AI-driven sales growth.

The company last Thursday said its fiscal 2024 AI revenue more than tripled, driven by its AI XPUs and Ethernet networking portfolio. CEO Hock Tan told analysts on the company’s 澳洲幸运5官方开奖结果体彩网:earnings call that he anticipa♋tes significant AI opportunities over the next three years, adding that he sees accelerators and networking sales in fiscal 2027 ranging between $60 billion and $90 billion.

The stock sits poised to break out from a ascending triangle on Friday, setting the stage for a continuation of the stock's longer-term uptrend.

The bars pattern tool, which extracts the stoc💛k’s trend higher from December 2023 to June this year and repositions it from the ascending triangle’s top trendline, forecasts an upside target of around♒ $315.

Investors should watch key support levels on Broadcom's chart during pullbacks near $185 and $140.

B🐼roadcom shaꦗres were up 17% at $212 in recent premarket trading.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Stock Futures Point to Higher Open for Major Indexes

Futures tied to the Dow Jones Indu🧜strial Average were up 0.1%.

S&P 500 futures were up 0.4%.

Nasdaq 100 futures were up 0.8%.