20.9 C
Washington

10 things to watch in the stock market Friday including a bullish call on Best Buy

Date:

Share:

10 things to watch Friday, Sept. 27

1. The S&P 500 was looking at a slightly higher open Friday after another record high close. The 10-year Treasury yield was finally lower following a tame August reading on the Fed’s favorite inflation gauge, the PCE price index. With just a couple trading days left in what’s historically the worst month of year, the S&P 500 was heading for its first September gain in five years.

2. Club holding Costco shares were a tad lower after a solid fiscal 2024 fourth-quarter earnings report Thursday night. The wholesale retailer’s long-awaited membership fee increase, which took effect Sept. 1, will have a limited impact until the back of its fiscal 2025 and into fiscal 2026, executives said. We raised our price target on the stock.

3. Best Buy was added to JPMorgan’s analyst focus list after a meeting with the electronics and appliance retailer’s management team. The analysts, who reiterated their $111 price target, called Best Buy a “value idea” to take advantage of the computing replacement cycle along with TV and appliance sales growth as existing home sales improve. That closely mirrors the Club’s investment thesis.

Source link

Subscribe to our magazine

━ more like this

California offering $25 gift cards to encourage bird flu testing

The Centers for Disease Control and Prevention is now working with California on a project that is offering gift cards...

At the American Museum of Natural History, a Look to Outer Space

This article is part of our Museums special section about how artists and institutions are adapting to changing times.What if you could stand in...

Real ID deadline is weeks away and most states aren’t fully compliant yet

In less than a month, Americans and permanent residents will only be able to pass through airport security or enter...