Stocks To Watch – 8/26/2024

Brief Overview

Hello Traders & Investors,

Scroll down to see the stocks we have on watch this week !

Are we headed back to all time highs? Is this the last spike before the fall? With all of the uncertainty, there has never been a better time to be engulfed in a knowledgeable community of like minded traders scouring market data and economic media to navigate these uncharted waters. 

Let’s take a look at the events of last week. 

Stocks saw a nice pop on Monday after AMD announces its acquisition of server builder ZT Systems in a deal worth $4.9 billion in an effort to expand its AI hardware.

Palo Alto Networks (PANW) made push towards all time highs on Tuesday before hitting resistance at $375.37 and retreating back to $350 to close out the week.

On Wednesday FOMC minutes gave bulls confidence to buy despite concerning revisions to job growth. Snowflake dipped after earnings while Zoom ripped after reporting.

Bonds, Gold and big tech dealt with some selling pressure on Thursday in anticipation of Chairman Powell’s speech from Jackson Hole on Friday.

Chair Powell indicated Friday that the Fed is prepared to raise interest rates further if necessary to combat inflation. However, Powell noted that the Fed will “proceed carefully” based on incoming economic data. This uncertainty kept markets on edge, with mixed reactions across different sectors. 

The main focus among traders and investors this week will likely be on earnings from NVDA scheduled for Wednesday after close as it creeps up to test all time highs. 

Lets get to it!