1 Stock to Buy, 1 Stock to Sell This Week: Salesforce, Beyond Meat
Stocks on Wall Street closed higher on Friday to notch another winning week as the S&P 500 climbed above the 5,100-point level for the first time in history amid an ongoing rally in mega-cap tech shares.
For the week, the benchmark S&P 500 rose 1.7%, the tech-heavy Nasdaq Composite advanced 1.4%, and the blue-chip Dow Jones Industrial Average added 1.3%.
Source: Investing.com
The week ahead is expected to be another eventful one as investors continue to assess how much juice is left in the AI-inspired rally on Wall Street and when the Fed may decide to cut interest rates.
Most important on the economic calendar will be the core personal consumption expenditures (PCE) price index, due on Thursday. In addition, there is also important fourth quarter GDP data due on Wednesday, which will provide more clues as to whether the economy is heading for a soft-landing or a recession.
Source: Investing.com
Elsewhere, some of the key earnings reports to watch include updates from Salesforce, Snowflake (NYSE:SNOW), Zoom (NASDAQ:ZM), Zscaler (NASDAQ:ZS), Lowe’s (NYSE:LOW), Best Buy (NYSE:BBY), TJX Companies (NYSE:TJX), and Macy’s (NYSE:M) as Wall Street’s Q4 reporting season draws to a close.
Regardless of which direction the market goes, below I highlight one stock likely to be in demand and another which could see fresh downside. Remember though, my timeframe is just for the week ahead, Monday, February 26 — Friday, March 1.
I expect Salesforce stock to outperform this week, with a potential breakout to a new record high on the horizon, as the enterprise software giant’s latest earnings and guidance will easily top estimates in my view thanks to broad strength in its cloud business and recent AI initiatives.
The San Francisco,
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