From Nasdaq:

Zacks Equity Research has released their list of stocks to watch, including Sunoco, New Gold, Hooker Furniture Corp., Molson Coors, and NVIDIA. These stocks were chosen based on the robust performance of the stock market and predictions for 2024.

Analysts are forecasting a strong year for the S&P 500, being optimistic that it could reach as high as 5,200 or 5,100 by the end of 2024. This projection is based on a range of factors, including slumping inflation and easing financial conditions.

In light of the Federal Reserve’s hints at several rate cuts in 2024, investors are advised to consider dividend stocks like Sunoco for better performance in a low-rate environment. Sunoco offers a solid yield of 5.57% and has a strong VGM Score of A.

Gold is expected to continue to perform well in light of a weak U.S. dollar. Investors are urged to consider New Gold, a company focused on the exploration and development of the Afton Copper-Gold Project, which is well-positioned to benefit from this trend.

Rallying small-cap stocks are being seen as a lucrative investment opportunity, especially with the potential of merger and acquisition activity as a result of valuation discrepancies in the market.

Consumer Discretionary sectors, like alcoholic beverage companies, may benefit from lower inflation. Stocks like Molson Coors, a global manufacturer and seller of beer and other beverage products, could be a good option for investors, as consumers may increase spending on non-essential items due to increased purchasing power.

Predictions for 2024 show that artificial intelligence (AI) will continue to be a dominant force in the tech industry. NVIDIA is suggested as a top AI bet for investors to consider.

In light of Zacks’ successful stock-picking strategies, investors are encouraged to look at the top stock picks for 2024. These strategies have outperformed the S&P’s average gains, and the current top stocks can be accessed at no cost or obligation.



Read more: The Zacks Analyst Blog Highlights Sunoco, New Gold, Hooker Furniture Corp., Molson Coors and NVIDIA