Benzinga Bulls And Bears: Alphabet, Reddit, Oklo — And Markets Bounce Bank On Rate Cut Hopes Benzinga Bulls And Bears: Alphabet, Reddit, Oklo — And Markets Bounce Bank On Rate Cut Hopes

Market Overview - U.S. markets experienced a strong rebound during a holiday-shortened week, with the likelihood of a Federal Reserve rate cut at the Dec. 10 meeting rising to nearly 90% due to dovish comments from central bank officials [2] - Speculation regarding Fed Chairman Jerome Powell's successor contributed to the market rally, with National Economic Council Director Kevin Hassett being considered a leading candidate [2] Company Highlights - Alphabet Inc. achieved a $4 trillion valuation, surpassing Microsoft, driven by optimism surrounding AI and new product launches [3] - Nvidia faced challenges as concerns arose that Meta Platforms might invest in Alphabet's AI chips, potentially threatening Nvidia's market position [3] - Zoom Communications reported Q3 revenue of $1.23 billion, slightly above expectations, with adjusted earnings per share of $1.52, exceeding estimates of $1.44 [7] - Reddit's stock surged approximately 7% following news of Meta's potential use of Alphabet's AI chips, positively impacting the social media sector [6] Sector Performance - The Health Care Select Sector SPDR Fund recorded its best month since the pandemic, reflecting growing AI optimism in the healthcare sector [4] - Auto stocks, particularly General Motors, reached record highs, indicating a strong recovery narrative [4] Bearish Trends - Advanced-nuclear and small-modular reactor companies, including Oklo, NuScale, and Nano Nuclear Energy, saw stock declines of roughly 37%-55% in November due to a broader sell-off in the nuclear energy sector [8] - Novo Nordisk's stock has declined approximately 69%, attributed to investor overreactions to headlines with limited business impact, despite strong fundamentals [10] - Burlington Stores reported Q3 sales of $2.710 billion, up about 7% year-over-year but slightly below expectations, impacted by unseasonably warm weather affecting demand for outerwear [11]