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Welcome to Episode #384 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week, Tracey is going solo to talk about making an investing game plan for 2024. She focused on only stocks for this episode.
Growth stocks were the big winners of 2023, with the Magnificent 7 surging to new highs, pulling some of the major indexes along with them.
There was a bank crisis in the spring, and bank stocks have struggled all year, with some hitting multi-year lows this fall. But even the banks have staged a major rally as stocks posted one of their best Novembers in 20 years.
What now?
Every investor should have an investing game plan for the new year. Tracey shares some ideas in this final podcast of the year.
Microsoft was a winner among the Magnificent 7 in 2023 as it jumped quickly to the forefront in generative AI. Shares of Microsoft are up 56% year-to-date and are trading near all-time highs.
Microsoft has gotten pricey, however. It trades with a P/S ratio of 12, which is similar to the level in 2000 when the dot-com boom busted.
Does Microsoft, and the rest of the Mag 7, still have gas left in the tank for 2024?
Deckers has not just one-billion-dollar brand in UGG, but it now has a second one in Hoka.
Shares of Deckers are up 80.2% year-to-date and are at new all-time highs. It’s not cheap, though. It trades with a forward P/E of 30. But earnings growth is looking solid for next year.
Should a hot retail stock like Deckers be on your short list?
United Rentals is the largest equipment rental company in the United States. It is benefitting from the big infrastructure bill as projects are being undertaken across the economy, from EV battery plants to broadband expansion.
Shares of United Rentals are up 49% year-to-date to new highs but it’s still cheap with a PEG ratio of 0.8.
Exxon Mobil, the oil giant, had been trading near its 52-week lows in 2023 as WTI crude fell under $70 again, at $68 a barrel.
Shares of Exxon Mobil are down 10.2% year-to-date. It is cheap, with a forward P/E of just 10.7. Exxon Mobil is also a dividend all-star with a dividend yielding 3.9%.
Oil stocks have had a terrible year. Is this a buying opportunity in Exxon Mobil?
5. The PNC Financial Services Group, Inc. (PNC - Free Report)
PNC Financial is a large regional bank based in Pittsburgh. Shares of PNC Financial got hit during the banking crisis but have rebounded off their lows. However, they’re still down 7.4% year-to-date.
PNC Financial is cheap with a forward P/E of just 10.1 and a P/B ratio of 1.1. Bank analysts say you buy a bank with a P/B ratio of 1.0 and sell when it’s 2.0. PNC Financial also pays a dividend, yielding 4.4%.
Is it finally time for banks like PNC Financial to lead the market in 2024?
What Else do you Need to Know About Creating an Investing Game Plan for 2024?
Tune into this week’s podcast to find out.
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5 Stocks for Your 2024 Investing Game Plan
Welcome to Episode #384 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week, Tracey is going solo to talk about making an investing game plan for 2024. She focused on only stocks for this episode.
Growth stocks were the big winners of 2023, with the Magnificent 7 surging to new highs, pulling some of the major indexes along with them.
There was a bank crisis in the spring, and bank stocks have struggled all year, with some hitting multi-year lows this fall. But even the banks have staged a major rally as stocks posted one of their best Novembers in 20 years.
What now?
Every investor should have an investing game plan for the new year. Tracey shares some ideas in this final podcast of the year.
5 Stocks for Your 2024 Investing Game Plan
1. Microsoft Corp. (MSFT - Free Report)
Microsoft was a winner among the Magnificent 7 in 2023 as it jumped quickly to the forefront in generative AI. Shares of Microsoft are up 56% year-to-date and are trading near all-time highs.
Microsoft has gotten pricey, however. It trades with a P/S ratio of 12, which is similar to the level in 2000 when the dot-com boom busted.
Does Microsoft, and the rest of the Mag 7, still have gas left in the tank for 2024?
2. Deckers Outdoor Corp. (DECK - Free Report)
Deckers has not just one-billion-dollar brand in UGG, but it now has a second one in Hoka.
Shares of Deckers are up 80.2% year-to-date and are at new all-time highs. It’s not cheap, though. It trades with a forward P/E of 30. But earnings growth is looking solid for next year.
Should a hot retail stock like Deckers be on your short list?
3. United Rentals, Inc. (URI - Free Report)
United Rentals is the largest equipment rental company in the United States. It is benefitting from the big infrastructure bill as projects are being undertaken across the economy, from EV battery plants to broadband expansion.
Shares of United Rentals are up 49% year-to-date to new highs but it’s still cheap with a PEG ratio of 0.8.
Is it too late to buy United Rentals for 2024?
4. Exxon Mobil Corp. (XOM - Free Report)
Exxon Mobil, the oil giant, had been trading near its 52-week lows in 2023 as WTI crude fell under $70 again, at $68 a barrel.
Shares of Exxon Mobil are down 10.2% year-to-date. It is cheap, with a forward P/E of just 10.7. Exxon Mobil is also a dividend all-star with a dividend yielding 3.9%.
Oil stocks have had a terrible year. Is this a buying opportunity in Exxon Mobil?
5. The PNC Financial Services Group, Inc. (PNC - Free Report)
PNC Financial is a large regional bank based in Pittsburgh. Shares of PNC Financial got hit during the banking crisis but have rebounded off their lows. However, they’re still down 7.4% year-to-date.
PNC Financial is cheap with a forward P/E of just 10.1 and a P/B ratio of 1.1. Bank analysts say you buy a bank with a P/B ratio of 1.0 and sell when it’s 2.0. PNC Financial also pays a dividend, yielding 4.4%.
Is it finally time for banks like PNC Financial to lead the market in 2024?
What Else do you Need to Know About Creating an Investing Game Plan for 2024?
Tune into this week’s podcast to find out.