MARKET HIGHLIGHTS
Capital Security Bank
market highlights
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GOOD WEEK
Maravai LifeSciences (MRVI +63.60%) had a strong Q4 2023, surpassing expectations in yearly revenue. The Nucleic Acid Production segment, especially CleanCap, played a key role. The Nucleic Acid Production segment is involved in the manufacturing and production of nucleic acids.
Shares of Block (SQ +16.13%) shares rose significantly as it exceeded revenue expectations with a substantial gross profit gain. Block is well-known for its mobile payment solutions, including the Square Point of Sale system for businesses, Cash App for peer-to-peer payments, and Square Capital for small business financing.
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BAD WEEK
Fox Factory Holding (FOXF -26.82%) saw a significant stock decline due to disappointing Q4 2023 results, mostly due to challenges like the United Auto Workers strike and higher interest rates.
Palantir Technologies, Inc. (PLTR – 2.6%) is a holding company, which engages in the development of data integration and software solutions. The company's expansion into commercial capabilities, particularly through its Artificial Intelligence Platform (AIP) "bootcamps," has contributed to reducing sales cycles.
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WHAT ELSE HAPPENED
The S&P 500 reached a record high in January 2024 for the first time since January 2022, signaling the onset of a new bull market. That bull market actually started when the index reached its bear market low in October 2022. It has since advanced 40%, but history shows plenty of upside left. The S&P 500 returned an average of 169% during past bull markets.
A bull market is the condition of the financial market in which prices are rising or are expected to rise. The term "bull market" is most often used to refer to the stock market but can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities.
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