8/6/2023 0 Comments Best stocks to buy todayAs the stock market soars, the economy is showing signs of picking up as well. ![]() (NASDAQ: DKNG ), and Exact Sciences Corporation (NASDAQ: EXAS ). Some of the top stocks to monitor as the US recovers from recession fears and embarks on a path to growth include NVIDIA Corporation (NASDAQ: NVDA ), DraftKings Inc. It is anticipated that the 10-year Treasury yield to reach 3.4% by the end of 2023 and 3.0% in 2024. This additional credit tightening is expected to result in 25-100 basis points of rate hikes and roughly a 0.25 percentage point decrease in real GDP growth in 2023. As part of ongoing efforts to tighten credit, the Federal Reserve recently raised its policy rate once more to a range of 5.00-5.25%. The headline CPI inflation is expected to average 4.0% in 2023 before easing to 2.8% in 2024. However, a recession is anticipated in the latter half of the year, which will drag down growth to 0.8% in 2024. Recession is a common occurrence in economic cycles and has historically presented attractive opportunities for long-term investors.Īlthough the first quarter showed strong performance, the forecast for real GDP growth is revised in 2023 to 0.9%. However, despite these factors, the labor market in the US remains strong, and economists have differing opinions on whether a recession is inevitable given the unique economic circumstances. ![]() Other reliable economic indicators also indicate warning signs for the US economy. ![]() The New York Fed's recession probability indicator, which is at its highest level in over four decades, suggests a 68.2% chance of a US recession within the next year. Factors such as increasing interest rates, high inflation, an inverted yield curve, and an unexpected banking crisis have all been cited as potential triggers for a recession. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Booming Stocks to Buy Now.ĭespite predictions of an impending recession since mid-2022, the US economy has not shown any signs of a downturn in the past nine months. In this article, we discuss the 10 best booming stocks to buy now.
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