Public Relations Newsroom - Promo

Today's Stock Winners for Feb. 6, 2024




Investors will grow their capital gains from stock markets by avoiding losing sectors. When Fed Chair Jerome Powell predicted that more small banks would close or merge, it suggested avoiding some banks and many regional banks.

Avoid the regional bank ETF (KRE), PNC Financial (PNC), and New York Community Bancorp (NYCB) for now. The pandemic hurt the commercial real estate sector. The hybrid workplace is permanent, decreasing the demand for office space.

Needless to say, Morningstar calling Cathie Wood’s ARK Innovation ETF a wealth destroyer means that investors should avoid ARKK stock.

Winners in Tech

Fears that sales in China would hurt Apple (AAPL) are misplaced. The iPhone supplier has an appealing handset, apps, and computers for the Chinese market. B of A rated AAPL stock, citing the revenue prospects for its new wearable product, the Apple Vision Pro headset.

Super Computer Micro (SMCI), which rose 14.44% on Monday, has more room to pop higher. Coverage on AI from Goldman Sachs, which is very late in writing a bullish note on Nvidia (NVDA), boosted SMCI stock. Look for both NVDA and SMCI stocks to rally again today.

The Fed’s rate cut pause is a catalyst in lifting Meta and Amazon (AMZN). The economy is very strong and the job market is resilient. This increases consumer confidence and income levels, which benefits the two tech giants.

In the energy sector, WTI crude prices are due to rebound. Look for Exxon (XOM) and Chevron (CVX) to attract buyers today.



Source link

About The Author

Scroll to Top