Stock futures slip after the S&P 500 suffers its worst week since 2023: Live updates

Published On Sep 8, 2024, 6:13 PM

Barclays has expressed increased caution regarding the luxury goods sector due to structural weaknesses in the Chinese economy, which may lead to significantly negative sales forecasts for brands like Burberry and Kering. This could result in a steep decline in sales, especially during the summer, where declines of up to 50% are anticipated. The overall sentiment in China is poor and any recovery is expected to take time, leading analysts to predict further downward revisions for Kering. Meanwhile, the U.S. jobs market shows resilience, which could affect predictions of interest rate cuts by the Federal Reserve, while stocks such as MarineMax are benefiting from expectations of these rate cuts.

Read full article

Stock Forecasts

HZOView HZO chart on TradingView

Positive

MarineMax is expected to benefit from a potential cut in interest rates, making its stock appealing. With Citi's upgrade and a strong forecast indicating a significant upside, it may be prudent for investors to buy shares.

NVDAView NVDA chart on TradingView

Positive

Nvidia's performance is contingent on future demand for its Blackwell chip, which presents a possible opportunity. Given the current favorable analyst sentiment, investors may consider maintaining a position in Nvidia, although with moderated exposure due to previous gains.

BBYView BBY chart on TradingView

Positive

Best Buy stands to gain from a likely cut in interest rates, boosting consumer confidence and housing turnover, making its stock a good buy at this moment. Loop Capital's positive outlook supports this.

Related News

Nancy Tengler encourages investors to have a ‘longer-term perspective’ on Magnificent 7 stocks | Fox Business Video

Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'

AAPL
MSFT
NVDA

Nvidia stock aims for new record high as AI boom shows no sign of slowing

Oct 9, 2024, 12:23 PM

Nvidia stock is aiming to notch a new all-time high, as the AI boom shows no sign of slowdown.

NVDA

Nobel Prize in Chemistry Is Awarded to 3 Scientists for Work With Proteins

Oct 9, 2024, 5:49 AM

Demis Hassabis and John M. Jumper of Google DeepMind predicted protein shapes with A.I. while David Baker designed “a new protein that was unlike any other,” the committee said.

NVDA
EDIT