Tensions between the United States, Israel and Iran, the US jobs report and Broadcom earnings will be in focus in the coming week. Costco is primed for a possible breakout with its earnings report Thursday. Broadcom faces a high-stakes test as it approaches its own results on Wednesday.
U.S. stocks ended lower on Friday after the latest report on the producer price index came in much higher than expected, adding persistent inflation to a list of concerns that have caused market turmoil this month.
Source: Investing.com
All three major indexes posted sharp weekly declines, with the blue-chip Dow Jones Industrial Average posting its biggest weekly decline since mid-November. The S&P 500 and Nasdaq Composite finished in the red in February amid growing fears about the impact of artificial intelligence on specific industries and the broader economy.
The coming week will revolve around the response of the stock market, as well as commodities, particularly oil, to the joint US-Israeli attack on Iran.
Beyond geopolitical concerns, investors will be watching a series of busy data releases, with the latest jobs report and retail sales figures due on Friday. The ISM manufacturing and services PMIs will also be closely monitored.
Source: Investing.com
Elsewhere, a major semiconductor player is among the latest reports to close the fourth-quarter earnings season. In addition to Broadcom’s results, profits are expected at retailers Target and Best Buy.
Apple’s product event on Wednesday will also attract attention.
Regardless of which direction the market is heading, below I highlight one stock likely to be in demand and one that could see further decline. Remember though that my deadline is just for the coming week, from Monday March 2 to March 6.
Stocks to Buy: Costco
Defensive retail giant Costco approaches its earnings release with strong momentum as it benefits from strong member-generated traffic, value-driven pricing and broad consumer appeal. According to the options market, traders anticipate a +/-4.4% move in either direction for COST stock following the release.
Recent sales trends,…
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