3 Hot Stocks on Wall Street’s Radar Right Now

The Federal Open Market Committee (FOMC) has raised rates at a breakneck pace this year. After slashing 150 basis points between February and April 2020 amid the COVID-19 pandemic, they stayed near zero through 2021. However…

the current target rate is 4.25% to 4.5%, and more increases are expected in 2023.

This followed as the U.S. inflation far outpaced the Fed’s typical 2% target since early 2021 and continued to rise through the year into 2022 when it peaked at 9.1% in June. Though inflation has eased somewhat in the last few months, it is still substantially high. The Fed does not expect rates to return to the neutral benchmark of 2.5% until 2025.

Moreover, as layoff announcements are mounting, some economists see the potential for declines in employment next year. The Fed has predicted in its economic forecast that the unemployment rate would increase to 4.6% by the end of next year, higher than the current 3.7%. This has fueled widespread recessionary fears in the economy.

Given this backdrop, it could be wise to invest in stocks that are currently on Wall Street’s radar, Broadcom Inc. (AVGO), Fortinet, Inc. (FTNT), and Advanced Energy Industries, Inc. (AEIS), considering their fundamental strength.

Broadcom Inc. (AVGO)

AVGO designs, develops, and supplies a range of semiconductor devices focusing on complex and mixed signal complementary metal oxide semiconductor-based devices and analog III-V-based products. It operates through…

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