Saturday 19 October 2024

🌎 The Weekly Wrap-Up for 10/19/2024

Stocks struggled to find direction in a week that lacked significant news to move the markets, but the bias remains to move higher. Retail sales came in slightly better than expected, but when adjusted for inflation, the numbers still show that consumers are under pressure. On the other hand, lower oil prices suggest consumers may get some relief at the gas pump and with their winter heating billsUpgrade to MarketBeat All Access to get early delivery, personalized stock alerts, portfolio monitoring tools, and more.  Start Your Free Trial.

October 19th, 2024

Follow MarketBeat on Twitter Join the MarketBeat Facebook Group Subscribe on YouTube 

The Weekly Wrapup

Stocks struggled to find direction in a week that lacked significant news to move the markets, but the bias remains to move higher. Retail sales came in slightly better than expected, but when adjusted for inflation, the numbers still show that consumers are under pressure. On the other hand, lower oil prices suggest consumers may get some relief at the gas pump and with their winter heating bills. 

The next big mover for investors is likely to come from big tech earnings, which will start in a couple of weeks. Strong earnings and, more importantly, strong guidance from these companies could set the stage for a strong year-end rally.   

Investors should expect some volatility ahead of the November election as institutional investors will likely wait before making big buys in one sector or another. This may be a time to keep some cash on the sidelines and start focusing on your watchlist. The MarketBeat analysts are here to provide analysis every step of the way. Here are some of our most popular articles from this week.  

 Articles by Jea Yu 

Cloud computing companies are becoming some of the biggest beneficiaries of the artificial intelligence (AI) revolution. All of this AI data has to live somewhere, and Jea Yu explains why these two cloud computing stocks are positioned to supply companies with the hardware and software needed to meet this demand.  

Commodities are beginning to rally again, and one sector that looks particularly strong is lithium. The industry's consolidation is underway, and this week, Yu highlighted two lithium stocks for investors to consider because they make attractive takeover targets.  

Short selling is a common investing practice that can be challenging for investors on the other side of the trade. However, as Yu points out this week, in many cases, short-selling pressure is temporary, and these stocks can rally sharply. That’s the case for the three shorted stocks that are now in recovery mode. 

Articles by Thomas Hughes 

If you’re thinking about getting involved with Tesla Inc. (NASDAQ: TSLA) stock, you’ll want to read what Thomas Hughes has to say about the short-term outlook after the company’s long-awaited robo-taxi event. As a car company in the short term, the outlook is not good, but if you track with some analysts who see the company as more than that, there may be some long-term upside. 

If you’re looking for a growth stock with more stability, Hughes analyzes healthcare giant Abbott Laboratories (NYSE: ABT) after its quarterly earnings report. The growth is slow and steady, and investors are rewarded with a safe, growing dividend. Even with the stock near a 52-week high, analysts see more upside.  

Income-oriented investors may want to take a look at Whirlpool Corporation (NYSE: WHR). The appliance manufacturer could be part of a housing resurgence. But in the meantime, the dividend, which yields over 6.5%, may just be too tempting to pass up.  

Articles by Sam Quirke 

Speculative investors have been strategically adding to positions in flying car stocks in the last year. And as Sam Quirke wrote this week, one of the biggest beneficiaries has been Joby Aviation Inc. (NYSE: JOBY). The company is still in the pre-revenue stage, and its path to profit may be delayed, but Quirke notes that analyst sentiment has never been more bullish.  

Alphabet Inc. (NASDAQ: GOOGL) is one of the technology stocks analysts believe could set up for a strong year-end rally. This week, Quirke summarizes analyst sentiment heading into earnings and what that report is likely to show investors.  

Another tech stock that could continue on the comeback trail is Salesforce Inc. (NYSE: CRM). The cloud software company’s stock is still down from the all-time high it set in March. However, Quirke explains the factors behind CRM stock’s recent rally, and why it may have further to rise.  

Articles by Chris Markoch 

It’s hard to call NVIDIA Corp. (NASDAQ: NVDA) a comeback stock, but shareholders have enjoyed seeing the stock hit a new 52-week high earlier this week. Chris Markoch explains why the ongoing demand for AI spending is likely to power the stock even higher.  

Markoch also wrote about why Warren Buffett is buying shares of Occidental Petroleum Corp. (NYSE: OXY) and selling shares of Chevron Corp. (NYSE: CVX). However, Markoch also notes that investors shouldn’t try to draw conclusions about Buffett’s long-term feelings for either stock, which remains bullish. 

And with the election just a few weeks away, it’s a good time for investors to look for stocks that will do well no matter which candidate wins the White House. Markoch gives investors three momentum stocks that may have further to run.  

Articles by Ryan Hasson 

If you wonder why penny stocks are so attractive, you’ll want to read Ryan Hasson’s article about the 1,500% surge in Bright Minds Pharmaceutical Inc. (NASDAQ: DRUG). This little-known, clinical-stage biopharmaceutical company’s stock was the beneficiary of a short squeeze. Hasson explains why the squeeze occurred and the risk-reward of getting involved in DRUG stock at these levels.  

Oil stocks continue to underperform the market as the price of crude continues to trade in a defined range. Nevertheless, Hasson explains why technical indicators point to higher crude oil prices, which may make Exxon Mobil Corp. (NYSE: XOM) an attractive stock to buy on this latest dip in oil stocks.  

With interest rates likely to move lower, many investors are looking to diversify their portfolios with high-yield dividend stocks that are in defensive sectors. These stocks help provide reliable income no matter what’s happening in the broader economy. This week, Hasson analyzed two high-yield dividend stocks that match that description.  

Articles by Gabriel Osorio-Mazilli 

Lower interest rates create what’s called a “risk-on” environment for investors. That applies to stocks and even more so to other asset classes, like cryptocurrency. This week, Gabriel Osorio-Mazilli explains why three cryptocurrency stocks are surging and why risk-tolerant investors may want to consider getting involved.  

Robinhood Markets Inc. (NASDAQ: HOOD) is one of the latest stocks that is selling off after an insider sold stock. In this case it was Cathie Wood who sold about $5.7 million of her ARK funds’ HOOD stock. However, Osorio-Mazilli explains that the reason for sales like these are rarely clear and analysts continue to raise their price targets for HOOD stock. 

Bank of America (NYSE: BAC) was one of the most closely watched stocks heading into earnings because Warren Buffett has been selling shares in the last quarter. Osorio-Mazilli explains why Buffett may have seen the same things that BAC’s report showed about the need to raise its provision for credit losses in anticipation of rising consumer delinquencies.  

Articles by Nathan Reiff 

This week, Nathan Reiff analyzed two opportunities for a long-term investment strategy. Investors looking to maximize their gains look for undervalued stocks at a low price. Reiff highlights three stocks that are solid buy-and-hold investments that investors can snag for under $20 per share.  

Another way to consider long-term investments is to look at specific sectors where future growth is likely. One such sector is the pharmaceutical sector. Reiff highlights three large-cap big pharma stocks that offer a good mix of growth and value for buy-and-hold investors.  

Finally, several months after its software update went awry, CrowdStrike Holdings Inc. (NASDAQ: CRWD) is showing signs of recovery. Reiff explains current analyst sentiment for CRWD stock and why this may turn out to be a solid buy-the-dip opportunity.  

Get 30 Days of MarketBeat All Access Free
Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
  • Best-in-Class Portfolio Monitoring

    View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
  • Stock Ideas and Recommendations

    Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
  • Advanced Stock Screeners and Research Tools

    Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.
Start Your 30-Day Free Trial

No comments:

Post a Comment

🎉 10 Easy New Recipes

#10 is my new favorite fall dinner!  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ...