Fast Money Blog- 8/23/24
Good news!
The stock market is experiencing a broad based stock market rally at the end of August.
A broad based rally is when a variety of stocks across all sectors are rising at once based on positive earnings.
Despite the tech sector pullback several weeks again. Sentiment on Wall street has been extremely positive for you and your portfolio.
Here’s my 90 day outlook:
I expect the market to calm down as we approach 9/11.
From 9/11 to Thanksgiving I’m expecting a bull market run in part due to a strong economy and the Fed Reserve lowering interest rates in the month of September.
Here are a few stocks I expect Wall street to favor and move higher over next 90 days:
Dow component Visa, Inc. (V)
Dow component Amazon.com, Inc. (AMZN)
S&P component Mastercard Inc. (MA)
S&P component Costco Wholesale Corporation (COST).
Because of a robust us economy stocks like V, AMZN, MA and COST should see an uptick in sales and sales volume in both Q3 and Q4 2024.
Important Note on AI Stocks
Despite Wall street’s fixation with AI Stocks, retail stocks tend to do well in lower interest rate economies. As an educated investor your job is not to overlook the retail sector and the billions that will be earned by the end of the year.
Be smart, not greedy!