MarketBeat: Week in Review 3/10-7/10
- The September jobs report is fueling a selloff to end the week.
- All eyes are on next week’s PPI and CPI reports.
- Next Friday will bring data on retail sales and consumer confidence.
- Oh, and earnings season is also starting.
The September jobs report is fueling a selloff in the markets to end the week. This is another example of good news (i.e. more jobs) seen as bad news for stocks. The reason is that the Fed is likely to interpret more jobs as creating demand that will keep inflation high. Speaking of inflation, next week all eyes will be on the PPI and CPI reports. And next Friday, investors will also get the latest retail sales and consumer confidence readings. And as if that weren’t enough, next week will mark the start of the third quarter earnings season. The bottom line is that the week will likely be volatile. And you can count on MarketBeat to keep you up to date on the stocks and stories that affect your money. Here are some of the most popular articles from this week.
Articles by Jea Yu
There have been many comments about the strength of the US dollar. Most investors know that the dollar and stocks have an inverse relationship. And in this article for MarketBeat, Jea Yu helps investors understand why this relationship exists. Additionally, Yu helps our readers understand what companies will benefit from and what investors should avoid with the greenback so strong. The electric vehicle sector is showing signs of recharging. To take advantage of this trend as well as the broader automotive megatrend, Yu suggests investors take a look at Magna International (NYSE: MGA). The company has contracts with several of the biggest automotive brands. Yu was watching too Amazon (NASDAQ:AMZN). The business continues to grow, although at a slower pace. But Yu explains why the Amazon effect is still alive and well and why it makes the company an attractive buy.
Articles by Thomas Hughes
You’re crazy investing in tech stocks right now, aren’t you? This may be true for “big tech” stocks. However, Thomas Hughes was looking for a few cheap tech stocks that have great fundamentals. And Hughes gives our readers three stocks that fit that description and might be worth putting on your recovery watchlist. Continuing with this equity theme to watch for signs of recovery, Hughes suggests investors watch RPM International (NYSE:RPM). The maker of siding and building products just posted strong earnings and offered strong guidance. But Hughes suggests investors may want to wait for further confirmation before diving. Hughes was more optimistic about Micron Technology (NASDAQ: MU). Hughes sees the company as a blue-chip tech stock that may have all the wrong indications in its stock.
Articles by Sam Quirke
Analyst ratings can play a key role in deciding whether to buy or sell a stock. A key upgrade for Box Inc. (NYSE: BOX) was one of the reasons Sam Quirke thinks it’s only a matter of time before the stock climbs to $30 or more. The company is a SaaS company that provides a cloud content management platform. This allows organizations of all sizes to manage and share content from anywhere and on any device. And the analyst in question believes that Box’s offer is undervalued by the market which is bullish for the stock price.
Articles by Chris Markoch
One of the most encouraging stories of the week for the world as well as for the markets was the encouraging results that Biogen (NASDAQ: BIIB) had in his clinical trial for Lecanemab. The results highlight the urgency of finding effective treatments for Alzheimer’s disease. Chris Markoch picked up on this theme and gave you three stocks to watch as the race to the cure heats up. Markoch was also looking at the renewed interest in the electric vehicle sector, but cautioned against patience Rivian (NASDAQ:RIVN) and Ford Motor (NYSE:F) investors. Either way, it’s not something companies are doing wrong, but current macro conditions make meeting revenue targets extremely uncertain.
Articles by Kate Stalter
As the world moves away from fossil fuels, the ability to mass-produce electric vehicle batteries will be crucial. In this spirit, Kate Stalter wrote on Freyr (NYSE:FREY) a Norwegian company that sees its share price soar after learning that it has started construction of a factory in its home country. It will be the largest factory of its kind outside of China and will prepare the company for international expansion. Another dominant theme at the moment is food security. And Stalter wrote about the role Archer Daniels-Midland (NYSE: ADM) is playing. The movement in the stock price will not arouse the enthusiasm of many investors. But the company continues to increase its dividend (49+), which is worth it. This week, Stalter also introduced readers to a trio of mid-cap stocks that have outperformed the S&P 500 and appear to have room to move up.
Before you consider Magna International, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off… and Magna International was not on the list.
While Magna International currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here
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