The Dow Jones Industrial Average is approaching 40,000 points, with the S&P 500 and Nasdaq also reaching record highs. MoneyShow expert contributors are sharing their top stock picks in the utility, technology, and consumer cyclical sectors. Tom Hutchinson from Cabot Income Advisor highlights NextEra Energy as a strong performer, with earnings increasing and positive interest rate news driving the market.
Hilary Kramer of Game Changers discusses the market’s recent volatility, but remains optimistic about the potential for growth. She highlights Palantir Technologies as a stock with great potential, despite a recent dip in performance. Kramer advises investors to hold onto PLTR and wait for further growth in the coming months before considering selling.
Adam Johnson of Bullseye Brief recommends DraftKings as a top pick in the online gaming and sports betting sector. With a strong market position and potential for growth in new products and state approvals, DraftKings is a best-in-breed operator with the opportunity for significant upside. Johnson suggests buying DKNG within the current upward trend and setting a target price based on future earnings.
Edward Yardeni and José Torres discuss the economy’s resilience in the face of higher interest rates and provide insights on where investors should focus their money in 2024. Yardeni believes inflation will cool, while Torres highlights the bullish financial conditions and the Fed’s implicit acceptance of certain factors that benefit investors. They also touch on credit risks in the banking sector, investing in fixed-income, and preferred stock market groups.
To receive more guidance from financial experts like Yardeni and Torres, investors are encouraged to attend the MoneyShow Masters Symposium in Las Vegas. The event, scheduled for August 1-3, 2024, will provide in-person insights on investment strategies and market trends. The experts share their views on the best shock absorbers for investors in the current market environment and identify potential risks that could impact the bullish outlook.
