1 Stock to Buy, 1 Stock to Sell This Week: Nvidia, Nike
U.S. stocks finished lower on Friday to suffer their second weekly loss in a row as investors weighed the outlook for interest rates amid renewed inflation fears.
For the week, the benchmark S&P 500 declined 0.1%, the tech-heavy NASDAQ Composite dropped 0.7%, and the blue-chip Dow Jones Industrial Average dipped 0.1%.
Source: Investing.com
The blockbuster week ahead is expected to be an eventful one filled with several market-moving events, including the Federal Reserve’s latest monetary policy meeting.
The U.S. central bank is widely expected to leave interest rates unchanged on Wednesday, but Fed Chair Jerome Powell could offer hints about when rate cuts might start when he speaks in the post-meeting press conference.
Source: Investing.com
Investors have largely pushed back expectations for the Fed’s first cut to July following a recent batch of hot inflation data, as per the Investing.com Fed Rate Monitor Tool.
Elsewhere, on the earnings docket, there are just a handful of corporate results due, including Nike (NYSE:NKE), FedEx (NYSE:FDX), Micron Technology (NASDAQ:MU), Lululemon (NASDAQ:LULU), and KB Home (NYSE:KBH).
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, March 18 — Friday, March 22.
I expect Nvidia’s stock to extend its march higher in the week ahead as the AI technology darling hosts its highly anticipated ‘GTC 2024’ conference, at which it is likely to show off its latest advancements in generative AI, accelerated computing, large language models, robotics, and more.
The four-day event, which is the first in-person GTC in five years, will kick
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