Editor's note:“This Week's Bullish Stocks in Hong Kong and the US”The column closely follows market trends every week, takes stock of the weekly performance of the Hong Kong and US stock markets, helps newcomers sort out the current week's hot sectors, strong individual stocks, and major news, and find profitable investment topics.
In the first US stock trading week of 2024, the bright tech leaders collectively shut down last year, and the Nasdaq Composite Index fell for five consecutive trading days. By the close of January 4, the S&P 500 index had fallen 1.7% during the week, the NASDAQ had a cumulative decline of 3.34%, and the Dow had fallen 0.66%.
Despite the poor overall performance of the general market, there are still quite a few individual stocks in the pharmaceutical, travel and other sectors that have performed well.
Specifically, vaccine leader Moderna's RSV vaccine+ dilemma reversal concept attracted attention this week. Under Moderna's leadership, healthcare concept stocks such as Pfizer, MSD, Amgen, and UnitedHealth collectively strengthened.$Moderna (MRNA.US)$It rose more than 9% during the week and topped the list of gains;$Merck & Co (MRK.US)$The stock price continued to rise for 6 days, rising more than 7% during the week;$Eli Lilly and Co (LLY.US)$,$Amgen (AMGN.US)$Both rose by more than 5%, and both hit record highs.
According to the news, Moderna's CEO stated in a shareholder letter that with the introduction of the respiratory syncytial virus (RSV) vaccine candidate, the influenza/Covid combination vaccine will be launched as early as 2025, and he believes the company will achieve sales growth in 2025. Oppenheimer recently raised Moderna's rating from “consistent with the market” to “outperforming the market,” with a target price of $142. Notably, the stock's share price dropped 44.63% last year.
Travel concept stocks have continued to be popular recently.$Trip.com (TCOM.US)$The week rose by nearly 7% to become the “brightest boy” among this week's popular Chinese securities.
According to the news, data from the Ministry of Culture and Tourism shows that during the three days of the 2024 New Year's Day holiday, the country achieved domestic tourism revenue of 79.73 billion yuan, an increase of 200.7% over the previous year. With the arrival of winter vacation and the Spring Festival, the tourism trend is expected to continue, and the snow and ice sector may welcome a new wave of peak passenger traffic.
Also, on November 12, 2023, the first Ctrip store in Jilin Province was successfully signed and opened in Changchun on January 3, 2024. So far, more than 2,100 Ctrip stores have signed contracts in 2023, breaking Ctrip's record for the number of newly signed stores over the years.
It was favored by Damo,$Allstate (ALL.US)$After breaking out of the daily line, the stock price reached a record high.
Morgan Stanley said in the report that Allstate is expected to achieve stronger revenue growth in 2024 due to an increase in the number of private cars and a reduction in underwriting losses. Damo raised its rating to overstock and sharply raised its target share price from $117 to $171.
On the other hand, the weakest performing stocks this week are as follows:
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