Weekly Market Review: 11/6 – 11/10

Key Points

  • Stocks shrugged off hawkish comments from the Federal Reserve and closed the week with a strong rally.
  • The rally is not broad-based and may reverse when investors get the latest information about inflation and retail stocks next week.
  • 5 stocks we like better than Fastly

Stocks closed the week with a strong rally that erased all the losses that hit the market after Fed chair Jerome Powell reiterated the Fed’s stance that more interest rate hikes may be needed to combat inflation.  

However, the rally wasn’t broad-based, with tech stocks grabbing most of the gains. And many key indicators still suggest these gains may be short lived. The tipping point is likely to come from the upcoming readings on inflation.  

The Consumer Price Index (CPI) and Producer Price Index (PPI) report next week, as will major retailers Walmart and Target. While this will be lagging data, it will help investors decide the outlook for the upcoming holiday season.  

Articles by Jea Yu 

Artificial intelligence (AI) stocks have been down sharply in the past quarter over concerns about the ability of companies to monetize AI. If that’s the case, investors may want to look closely at Fastly Inc. (NYSE: FSLY). Jea Yu updated investors after the company delivered a double beat and maintained guidance that was in line with estimates. Although not yet profitable, the company’s revenue continues to grow as customers embrace the company’s business of using AI to optimize content delivery at the network’s edge.  

Yu was also looking at two biotech stocks of companies that delivered disappointing earnings reports. For Pfizer, Inc. (NYSE: PFE), the sell-off continues a trend that’s been in place for nearly a year. The correction in Sanofi (NASDAQ: SNY) has been more recent. Read Yu’s article to see if either stock presents a buying opportunity.  

Continuing his hunt for potential turnaround opportunities, Yu analyzed three lithium stocks that are trading lower due to lower guidance but may be great buys if the electric vehicle (EV) market continues to deliver on its long-term promise.  

Articles by Thomas Hughes 

Thomas Hughes presented investors with a different way to consider AI stocks. Specifically, what companies are using AI to help investors make better decisions? Hughes gives investors three companies to consider if they’re looking to invest in artificial intelligence in a unique way. 

It’s been a rough earnings season for electric vehicle (EV) manufacturers. That’s one reason Rivian Automotive, Inc. (NASDAQ: RIVN) stood out. The company had a double beat and raised its guidance for the year. Analysts are raising their outlook for the stock as it trades at a critical support level.  

Hughes also reminded buy-and-hold investors who are looking for quality dividends to consider three health insurance stocks that are becoming leaner and meaner due to secular trends, federal law, and the rise of AI.  

Articles by Sam Quirke 

Articles by Chris Markoch 

Articles by Kate Stalter  

Articles by Ryan Hasson 

Articles by Gabriel Osorio-Mazilli 

Earlier this year, many investors were surprised to learn that Warren Buffett was buying homebuilder stocks. But Gabriel Osorio-Mazilli reminds you that investors who were paying attention could see that it was a logical move, and it’s paying off now and may continue to pay off into 2024. 

Apparel stocks have been falling as retailers try to right-size their inventory. But, as Osorio-Mazilli points out, that may be changing in the world of footwear. This week, he explains why investors looking for certainty may want to consider just buying adidas AG (OTCMKTS: ADDYY) instead of Nike, Inc. (NYSE: NKE).  

One stock that most investors won’t have any problem getting behind is Celsius Holdings Inc. (NASDAQ: CELH). The stock is up nearly 50% in 2023, and Osorio-Mazilli analyzes why the company’s stock may have much further to run.  

Articles by MarketBeat Staff 

Bearish investors won’t want to read what the MarketBeat Staff was writing this week. The team was looking at three bullish narratives. First, institutional investors frequently look at one year’s laggards as potential winners in the following year. The MarketBeat staff writes about three beaten-down stocks that Wall Street believes may be next year’s big winners.  

For risk-tolerant traders looking for ideas on stocks to trade during this earnings season, the staff delivered several large cap names that have yet to report but are expected to beat on earnings, which means now is the time for you to put these stocks on your radar. 

And finally, the staff asked what’s in your portfolio? It’s tongue-in-cheek, we know, but if you’re looking for opportunities in finance stocks, you’ll want to read why Capital One Financial Corporation (NYSE: COF) may be worth a closer look.  

Before you consider Fastly, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Fastly wasn’t on the list.

While Fastly currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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