The fourth week of July 2023 will be a busy one for economic events. Here are some of the most important ones to watch:
- July 26: The Federal Reserve is scheduled to release the minutes of its June meeting. This will be closely watched for any clues about the central bank’s future plans for monetary policy.
- July 27: The U.S. Department of Commerce is scheduled to release its report on personal income and spending for June. This report will provide an update on consumer spending, which is a key driver of economic growth.
- July 28: The Institute for Supply Management is scheduled to release its report on manufacturing activity for July. This report will provide an update on the health of the manufacturing sector, which is a major contributor to the U.S. economy.
- July 29: The Conference Board is scheduled to release its Consumer Confidence Index for July. This index is a measure of consumer sentiment, which is a key indicator of future economic activity.
Commentary and Future Prospects for Notable Stocks and Sectors in the Stock Market
The stock market is likely to remain volatile in the fourth week of July 2023, as investors continue to digest the implications of rising interest rates and the ongoing war in Ukraine. However, there are some stocks and sectors that could outperform in the coming weeks.
Energy stocks are one area that could do well, as oil prices remain elevated. The war in Ukraine has disrupted global energy supplies, and this has led to higher prices for oil and gas. Energy stocks are likely to benefit from these higher prices.
Financial stocks could also do well in the coming weeks. Rising interest rates are likely to boost profits for banks and other financial institutions. Additionally, the Federal Reserve is expected to continue to shrink its balance sheet, which could lead to higher demand for Treasury securities. This would benefit financial institutions that underwrite and trade these securities.
Technology stocks are another area that could outperform in the coming weeks. These stocks have been under pressure in recent months, as investors have become concerned about the impact of rising interest rates on their valuations. However, technology stocks are still seen as long-term growth plays, and they could start to outperform as investors become more confident in the economic outlook.
Here are five stocks that I recommend for the fourth week of July 2023:
- XOM: Exxon Mobil is an energy giant that is well-positioned to benefit from higher oil prices.
- JPM: JPMorgan Chase is a leading financial institution that is likely to benefit from rising interest rates.
- AAPL: Apple is a technology giant that is still seen as a long-term growth play.
- MSFT: Microsoft is another technology giant that is well-positioned for long-term growth.
- GOOGL: Alphabet is the parent company of Google, and it is another technology giant that is likely to do well in the coming weeks.
I recommend these stocks because they are all well-positioned to benefit from the economic environment in the fourth week of July 2023. They are all profitable companies with strong track records, and they are all trading at reasonable valuations.
I hope this information is helpful.