1 Stock to Buy, 1 Stock to Sell This Week: Lululemon, Pfizer
Stocks on Wall Street ended mostly lower on Friday to wrap up a volatile week, as a spike in oil prices and rising inflation expectations soured investors on riskier bets.
Despite Friday’s weak performance, the blue-chip Dow Jones Industrial Average rose 0.8% on the week, the benchmark S&P 500 tacked on 0.4%, while the tech-heavy Nasdaq Composite dipped 0.2%.
The week ahead is expected to be another busy one as investors continue to assess the outlook for the economy, inflation, interest rates and corporate earnings.
Most important on the economic calendar will be Tuesday’s U.S. retail sales report for September, with economists estimating a headline increase of 0.2% after sales rose 0.6% during the prior month.
Investors will also scrutinize a speech from Fed Chair Jerome Powell on Thursday for clues on the outlook for interest rates. As of Sunday morning, financial markets see a 94% chance of the Fed holding rates at current levels at its November meeting, according to Investing.com’s Fed Rate Monitor Tool.
Meanwhile, third quarter earnings season shifts into high gear, with Tesla (NASDAQ:TSLA) and Netflix (NASDAQ:NFLX) leading the charge. Other high-profile companies reporting include Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), American Express (NYSE:AXP), Johnson & Johnson (NYSE:JNJ), Procter & Gamble (NYSE:PG), AT&T (NYSE:T), American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Taiwan Semiconductor (NYSE:TSM).
In addition to earnings, investors will also monitor news out of the Middle East amid growing fears that the Israel-Hamas war could escalate geopolitical tensions in the region.
Regardless of which direction the market goes next week, below I highlight one stock
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