1 Stock to Buy, 1 Stock to Sell This Week: FedEx, Nike

investing.com:

Stocks on Wall Street finished higher on Friday to notch another winning week amid growing expectations the Federal Reserve is done with raising interest rates and could start cutting them next year.

The blue-chip Dow Jones Industrial Average closed at a new record peak, while the benchmark S&P 500 and the tech-heavy Nasdaq Composite both ended at their best levels since January 2020.

For the week, the Dow rose 2.9%, the S&P 500 jumped 2.5%, and the Nasdaq rallied about 2.9%. It marked the seventh straight week of gains for the major averages, the longest such winning streak for the S&P since 2017.

The week ahead — which will be the last full trading week of 2023 — is expected to be another eventful one as markets continue to weigh the Fed’s rate plans for the months ahead.

Most important on the economic calendar will be the core personal consumption expenditures (PCE) price index, due on Friday. This is a key reading to watch as it is the Fed's preferred inflation metric. If the core PCE number comes in below expectations, the buzz over lower interest rates may continue.

Elsewhere, on the earnings docket, there are just a handful of corporate results due, including Nike, FedEx, Micron Technology (NASDAQ:MU), Carnival (NYSE:CCL), and General Mills (NYSE:GIS).

Regardless of which direction the market goes, below I highlight one stock likely to be in demand and another that could see fresh downside.

Remember though, my timeframe is just for the week ahead, Monday, December 18 — Friday, December 22.

After ending at a fresh 52-week high on Friday, I expect another strong performance for FedEx (NYSE:FDX) this week as the package delivery giant’s latest financial results will surpass profit estimates thanks to ongoing