The markets continued to move lower this week with the Nasdaq suffering the largest losses. Analysts are adjusting valuations as they assume that interest rate cuts won't happen until the fall, possibly not until 2025.
Geopolitical concerns are also on the minds of investors. The reason is because of how they impact oil prices. If oil prices rise, it will directly affect inflation, which is already expected to run hotter over the next several months.
But for the next few weeks, it will be all about earnings and, more importantly, the guidance that companies will give. Next week, earnings season moves into high gear as investors will start hearing from some of the Magnificent 7 stocks from 2023. The MarketBeat analysts will be all over those reports. In the meantime, here are some of our most popular stories from this week.
Articles by Jea Yu
Novo Nordisk AV/S (NYSE: NVO) stock has soared along with the success of its Ozempic and Wegovy drugs. At this time, those GLB-1 treatments can only be prescribed for diabetes or obesity, respectively. The stock has pulled back recently. However, Jea Yu explained that NVO stock may get a jolt as the company is testing the drug for other indications that include "obesity-related pulmonary and cardiovascular diseases, and potentially neurological disorders."
Gold has been one of the best-performing asset classes in 2024. However, silver hasn't enjoyed the same gains - at least not yet. Yu wrote about two silver stocks that are starting to move higher, as the underlying commodity is still well below its all-time high.
And this week, Yu explained how options traders can use a put credit spread as an alternative to a debit spread when they believe a stock will move higher but want to limit their downside risk. This article details how a put credit spread works and the pros and cons of using the strategy.
Articles by Thomas Hughes
Money continues to flow into energy stocks over the reality of finite supply and accelerating demand. This week, Thomas Hughes gives investors three energy stocks that are paying dividends, repurchasing shares, and offering the potential for long-term share price gains.
Hughes was also writing about the recent earnings report from UnitedHealth Group Inc. (NYSE: UNH). The stock is up 12%, breaking a five-month slump that had the stock down to nearly 12-month lows. Hughes explains the reasons beyond the headline numbers that UNH stock won't be undervalued much longer.
Another stock that may be as cheap as it's going to get is Johnson & Johnson (NYSE: JNJ). Hughes explains why the slimmed-down company's latest earnings report was bullish in many of the ways that should matter most and may put the stock at a buying point for investors.
Articles by Sam Quirke
Many companies went public in 2021 to a lot of fanfare that has since seen the stock fall 50% or more. One of those stocks was GitLab Inc. (NASDAQ: GTLB). After bottoming out last May, GTLB stock has been in rally mode. However, weak guidance triggered a sell-off that Sam Quirke believes that there's a 40% upside to GTLB stock.
DocuSign Inc. (NASDAQ: DOCU) went public a little earlier than GitLab, but DOCU stock has also dropped sharply from its 2021 high. After a 60% rally since November 2023, Quirke makes the case for as much as a 66% upside for the stock.
Quirke also explains the Relative Strength Indicator (RSI) and how that technical indicator helps point investors to overbought or oversold stocks and gives you three stocks with oversold indicators.
Articles by Ryan Hasson
Next week, investors will get the first read from several Magnificent Seven stocks. The shine has come off several of these stocks. However, Ryan Hasson wrote about three Magnificent 7 stocks that are still outperforming their Mag 7 counterparts as well as the broader market.
Hasson is also looking at energy stocks. He was specifically analyzing five small-cap energy stocks that have recently shown strong price and volume movement and may have more upside in store for investors.
And Tesla Inc. (NASDAQ: TSLA) will be a closely-watched earnings report next week. The company's results have become a bellwether for many tech stocks. Before the company reports, read Quirke's article to understand all the factors weighing on the stock and what investors should watch for when the company reports.
Articles by Gabriel Osorio-Mazilli
As you can see, there are good reasons the MarketBeat analysts are laser-focused on energy stocks. This week, Gabriel Osorio-Mazilli explains why Kinder Morgan Inc. (NYSE: KMI) is a solid midstream company that analysts believe shows a double-digit upside from higher oil and natural gas demand.
This week, steel stocks came into sharp focus as President Biden floated a 30% tariff on Chinese steel. It's timely, therefore, that Osorio-Mazilli offers up three steel stocks that are positioned to benefit if those tariffs are imposed.
And chip stocks remain in focus. This week, Osorio-Mazilli explains why ASML Holding (NASDAQ: ASML) may be a solid picks-and-shovel way to invest in the sector as the next leg of the rally in semiconductor stocks is getting underway.