GME Jan 2025 16.000 call

Wall Street ups S&P 500 forecasts, GameStop stock tumbles: Market Domination

On Monday's episode of Market Domination, hosts Julie Hyman and Josh Lipton delve into the intricacies of market dynamics, company updates, and the ever-evolving tech sector. Markets take center stage as Wall Street finds itself awash with growing optimism surrounding the S&P 50 (^GSPC). Roth MKM Partners Chief Economist and Macro Strategist Michael Darda joins to discuss why several firms have raised their year-end price targets for the index, buoyed by promising growth prospects. The show then turns to the stock reactions of notable companies, including Adobe (ADBE), Virgin Galactic (SPCE), and GameStop (GME). The video game retailer is in focus after the company saw shares plummet following its annual shareholder meeting. As the episode draws to a close, the spotlight shifts to the Technology SPDR Select Fund (XLK), which is on the brink of a rebalancing due to the high concentration within the industry. Deepwater Asset Management Managing Partner Doug Clinton joins the conversation, offering his outlook on the best tech sector plays. This post was written by Angel Smith