Stock Market Surges on Speculation and Meme Stock Frenzy

Crypto trades are increasing. Roaring Kitty is boosting meme stocks. The broader market is surging without any clear triggers. Several speculative sectors of the stock market rallied in early trading Thursday, the first session of the new year, right after the S&P 500 completed its best two-year run since 1998. Roaring Kitty posted another cryptic message on X, a short clip of the late musician Rick James. Some believe the meme stock leader was making a reference to something.

Meanwhile, semiconductor stocks - slated to be the big winners of 2024 - continued to lead the market after the artificial intelligence trade lost some momentum at the end of last year. jumped 8.5% following an upgrade at Jefferies to buy from hold. The investment bank stated that shares of the golf equipment maker appeared oversold and increased its price target to 65% above where the stock closed the year. With a rise in market speculation, broad stock futures were climbing to start 2025. Dow futures advanced as much as 300 points. Thursday's dramatic moves resembled the initial rallies following Donald Trump's election victory in November, as investors wagered his pro-business policies would propel companies and the economy to strong growth. Those gains slowed toward the end of 2024 as concerns grew that the president-elect's protectionist policies could fuel inflation or disrupt supply chains, and as the Federal Reserve signaled fewer interest rate cuts in 2025. 'Many investors assume that the incoming administration's push for deregulation will unleash 'animal spirits,'' Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, said in a recent note to clients.'But what if it only accelerates the concentration of monopoly power in the hands of a few, diluting the efficacy of broad economic measures and leaving behind even larger swaths of the populace?'Louisian

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