TOP STOCKS TO WATCH
S&P 500, Nasdaq post record closing highs as data feeds rate cut hopes
U.S. stocks closed mixed on Wednesday, with the S&P 500 and Nasdaq reaching record highs due to optimism about potential Federal Reserve interest rate cuts in September spurred by signs of a slowing economy. However, the Dow Jones Industrial Average remained relatively flat, weighed down by healthcare and consumer stocks in a shortened trading session ahead of the Fourth of July holiday.
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Earnings growth likely to be in mid-teens; overall growth trajectory remains strong: Shibani Sircar Kurian
The building materials segment, specifically tiles, has underperformed despite significant real estate growth. Typically, when real estate sales pick up, demand and volume growth in building materials follow with a lag.
Planning to pick winning portfolios? Past performance is not the only way to go!
Many investors choose mutual funds by sorting them by highest returns and picking the top 2-3. However, selecting top-performing funds based solely on past performance can lead to disappointment. Let's explore why this strategy is flawed.
S&P 500 tops 5,500 after ‘near perfect’ economic data
Excluding the volatile food and energy components, the core inflation figure rose by 0.1% month-on-month and 2.6% year-on-year. According to LSEG FedWatch data, the probability of a rate cut in September increased to 68% from 61% prior to the release of the data. Despite the Federal Reserve's projections of only one rate cut this year, traders are maintaining their bets on two cuts, hoping for a continued decline in inflation and considering the economy's vulnerability to historically high interest rates.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
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Sensex extends record rally to 3rd session, ends above 79K, Nifty tops 24,000
Heavyweights RIL, HDFC Bank, and ICICI Bank were among the biggest contributors to Nifty's rise. Sectorally, buying was noticed in banks, FMCG, metals, and pharma. For Nifty50, the latest 1,000-point gain from 23,000 to 24,000 has been the 2nd fastest ever. Nifty took 23 sessions to climb 1,000 points.
2 top stock recommendations from Rahul Sharma
Now, the way Nifty is heading, we feel that putting a target is anybody's guess. But 24,200, 24,500 is where we are expecting the Nifty to head very fast in the next few trading sessions. So, momentum moves is something that we are looking for.
Nvidia, megacaps power strong Nasdaq recovery; Dow pulls back
AI chip firm Nvidia soared 6%, recovering some of the steep losses it had notched in three consecutive declining sessions. At current levels, the stock is still 12% away from last week's record high. The Dow pulled back from a one-month high hit on Monday, while the small-cap Russell 2000 index also lost some steam.
3 top stock recommendations from CA Rudramurthy BV
Let us see how even budget comes out and then take aggressive position. So, for sure, this is not the time to take aggressive position, not to be in high beta and one has to have reduced leverage and risk management will hold the key if you are a very short-term trader.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
S&P 500, Nasdaq scale record highs as Nvidia lengthens its lead
Nvidia's surge propelled it past Microsoft to become the world's most valuable company, driving both the S&P 500 and Nasdaq to record highs. Shares of Dell and Super Micro rose 1.0% and 6.3%, respectively. At 11:59 a.m. ET, the Dow Jones Industrial Average was up 86.87 points, or 0.22%, at 38,921.73.
Dow, S&P 500 edge higher after soft retail sales data; eyes on Fed speakers
Data showed US retail sales rose 0.1% in May, against 0.3% increase expected by economists polled by Reuters. Markets marginally hiked bets on two interest rate cuts from the Fed this year following the data, according to LSEG's FedWatch, clashing with the most recent projections from policymakers showing they broadly expect just one interest rate cut this year.
S&P 500 tops 5,400, Nasdaq hits fresh record high ahead of Fed decision; Apple jumps
At midday trading, the stock market showed positive gains. The Dow Jones Industrial Average increased by 0.28%, the S&P 500 was up by 1.11%, and the Nasdaq Composite rose by 1.74%. Oracle's stock surged 11.7% following their optimistic revenue forecast for the next fiscal year.
Crypto Gems: Top crypto assets to watch & buy in June 2024
May was a historic month for crypto enthusiasts with Ethereum spot ETFs approval in the US. Bitcoin nears all-time high while altcoins like Ethereum, Solana, and Cardano are still off their 2021 peaks.
Sanjiv Bhasin picks top stocks that may outperform in near term
We think the market has retraced very sharply, more sharply than we thought. This is not the time to be too brave, be watchful of what stocks you buy. ABFRL was a darling stock, in the last three days it is up 30%, so has been AB Capital and Vodafone. We think that group is being re-rated. Look for any opportunities to buy.
Tech stocks lift Nasdaq, S&P 500 as rate-cut expectations tick up
Nasdaq hits record intra-day high on tech rally, fueled by gains in Microsoft and Amazon. Investors remain cautious, weighing economic concerns against the possibility of earlier Fed rate cuts.
Dow slides 1% as bond market pressure eases after cooler economic data
The S&P 500 traded 0.2% lower and the Nasdaq composite dropped 0.3%. Yields fell on Thursday after a couple of reports showed the U.S. economy isn’t quite as strong as expected. The hope on Wall Street is that the economy can cool down, but not too much so that the Federal Reserve can hit a precise landing where it gets high inflation under control without causing a bad recession.
Hemang Jani's top stock bet from pharma sector
But nonetheless, I think even when it has not performed so much, I think if somebody has to put fresh money, I think it surely makes a lot of sense given the performance, valuation comfort, I do not see much of a challenge over there. And recently, the fact bond yields went down when you had that big dividend payout, I think there was a bit of an outperformance. So, I think you could look for some more outperformance at least over the next 6 to 12 months.
Meme coin mania is about to erupt: Top cryptocurrencies to watch now
Top meme coins: Sealana (SEAL), WienerAI (WAI), Dogeverse, GameStop (GME), Pepe with strong community
Top stocks to buy: 5 stocks to watch out for an upside of up to 65%
Stock: Sanghi Industries Research House: PhillipCapital Advice: Buy Stock Price: Rs 94 1-year Target Price: Rs 155 Potential Upside: 64.9% Comment: Maintain ‘buy’ due to strong recovery on operating front in fourth quarter. Also, it is likely to be a profitmaking entity in 2024-25, supported by funding from the parent company, which will help pay off its debt.
US stocks drift higher; S&P 500 pulls back within 1% of its record
The Dow Jones Industrial Average was up 189 points, or 0.5%, as of 11 a.m. Eastern time, and the Nasdaq composite was 0.2% higher.
Q4 earnings review: BFSI, auto lead YoY PAT beat for Nifty companies; IT, consumption top drags
Dalal Street's Q1 earnings season sees Nifty constituents with 24% YoY profit growth, varying estimates from brokerages: ICICI Securities reports 44%, Kotak Institutional Equities 14%, and Motilal Oswal 13%.
US stocks rise as Fed rate-hike concerns alleviate
While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected U.S. rate cut pushed back, he refused to entertain talk that rates might actually need to go up again.
Top stocks to buy: 6 stocks to watch out for an upside of up to 21.3%
Stock: Tejas Networks Research House: Emkay Advice: Buy Stock Price: Rs 907 1-year Target Price: Rs 1,100 Potential Upside: 21.3% Comment: Retain buy as it will benefit from its cost-competitive R&D compared with peers, asset-light model, PLI scheme benefits and strong revenue visibility due to BSNL and BharatNet projects execution.
US stocks rise as Big Tech charges higher
Alphabet jumped 10.1% to a record high after the Google-parent announced its first-ever dividend, a $70 billion stock buyback and beat estimates for first-quarter results. The share surge led to the search giant's market value briefly topping $2 trillion on an intraday basis.
Top stocks to buy: 5 stocks to watch out for an upside of up to 43%
Stock: Zaggle Prepaid Ocean Services Research House: Equirus Securities Advice: Long Stock Price: Rs 280 1-year Target Price: Rs 400 Potential Upside: 42.9% Comment: Initiate with ‘long’ due to its unique business model and diverse revenue sources. Also, there are multiple growth opportunities led by new customer acquisition, increased cross-selling of products, global expansion and new product offerings.
Stocks to buy: 6 stocks to watch out for an upside of up to 56.3%
Stocks to buy this week Stock: Hi-Tech Pipes Research House: Antique Stock Broking Advice: Buy Stock price: Rs 128 1-year target price: Rs 200 Potential Upside: 56.3% Comment: Initiate with a buy rating due to steady steel pipe demand amidst infrastructure growth. Enriched product mix, operational leverage, import substitution, and solar energy opportunities are key advantages.
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