Major Wall Street indices closed within the green on Monday as investors and traders began considering the potential of a slowdown within the pace of the Federal Reserve’s rate hikes. A report in The Wall Street Journal indicated central bank officials are preparing to slow the speed hike pace for a second straight meeting in early February on growing hopes of easing inflation. Comments by Fed Governor Christopher Waller on Friday that indicated a favor toward a quarter-percentage-point rate hike at the subsequent meeting boosted investor sentiments, in accordance with CNBC. The next stocks drew heavy investors’ attention:
1. Tesla Inc (NASDAQ:TSLA): Shares of Tesla closed 7.74% higher on Monday. The stock movement may very well be attributed to overall market strength, recent response to the corporate’s price cuts, and CEO Elon Musk’s ongoing trial over his 2018 ‘funding secured’ comments. Elon Musk told jurors on Monday he was sure he had secured financial support from Saudi investors in 2018 to take Tesla private and will even have utilized his stake in SpaceX to fund a buyout, reported Reuters.
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2. Amazon.com, Inc. (NASDAQ:AMZN): Shares of Amazon closed 0.28% higher on Monday. The corporate announced the launch of Amazon Air in India to further enhance its transportation network.
3. Lucid Group Inc (NASDAQ:LCID): Shares of Lucid closed 12.79% higher on Monday. Citi analyst Itay Michaeli resumed coverage of Lucid with a ‘Buy’ rating and a $12 price goal which is about 50% higher than the present stock price.
4. Wayfair Inc (NYSE:W): Shares of Wayfair closed 26.8% higher on Monday. Multiple analysts have upgraded the stock within the wake of the corporate’s cost-efficiency plan and business performance update. JPMorgan analyst Christopher Horvers upgraded the stock from ‘Underweight’ to ‘Chubby’ and raised the value goal from $35 to $63.
5. Sumo Logic Inc (NASDAQ:SUMO): Shares of the corporate closed 28.68% higher on Monday. Reports indicated that multiple private equity firms have expressed interest in a possible acquisition. Firms including Thoma Bravo, Vista Equity Partners and Francisco Partners have approached Sumo Logic showing interest in a possible acquisition, in accordance with a report by The Information.
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