Top 3 US Stocks To Watch in April 2024
The US stock market has witnessed a three-day streak of losses after fading expectations of an early interest rate cut. Federal Reserve Chairman Jerome Powell stated on Wednesday that policymakers will need more evidence that inflation in the US is moving towards the Fed’s 2% target before slashing interest rates. Investors worry that interest rates in the US will remain higher for longer, triggering the current market slump.
However, let’s look at three of the best-performing stocks of 2024 that could do well in April.
Top 3 US stocks to watch in April 2024
Bank of America (BAC):
Some may be weary about entering into banking stocks right now, given that interest rates are high and the economy is in a slump. However, BAC is up by almost 50% from its October low and recently hit a new 52-week high.
Also Read: Top 3 Warren Buffet Stocks You Should Watch
Furthermore, some analysts say that BAC is undervalued due to underestimated prospects. Veteran trader Warren Buffet’s Berkshire Hathaway continues to hold its positions in Bank of America, further solidifying the asset’s potential. Berkshire Hathaway currently holds about $38 billion worth of Bank of America stock.
BYD:
BYD is the new electric vehicle heavyweight that recently overtook Tesla as the world’s largest EV manufacturer. Furthermore, Berkshire Hathaway also holds a position in the company.
Also Read: Gold Prices Forecasted to Reach $7,000: Here’s When
BYD overtaking Tesla as the largest EV manufacturer may reflect in the company’s stock performance this month. Hence, BYD could be an asset to watch out for.
Occidental Petroleum:
Occidental Petroleum is another one of Buffet’s choices that investors could keep their eyes on. Apart from Occidental Petroleum, Buffet’s Berkshire Hathaway also owns a significant amount of Chevron stocks. However, oil and natural gas stocks haven’t been the highlight of Berkshire Hathaway’s holdings in recent times.
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Top 3 US Stocks To Watch in April 2024
The US stock market has witnessed a three-day streak of losses after fading expectations of an early interest rate cut. Federal Reserve Chairman Jerome Powell stated on Wednesday that policymakers will need more evidence that inflation in the US is moving towards the Fed’s 2% target before slashing interest rates. Investors worry that interest rates in the US will remain higher for longer, triggering the current market slump.
However, let’s look at three of the best-performing stocks of 2024 that could do well in April.
Top 3 US stocks to watch in April 2024
Bank of America (BAC):
Some may be weary about entering into banking stocks right now, given that interest rates are high and the economy is in a slump. However, BAC is up by almost 50% from its October low and recently hit a new 52-week high.
Also Read: Top 3 Warren Buffet Stocks You Should Watch
Furthermore, some analysts say that BAC is undervalued due to underestimated prospects. Veteran trader Warren Buffet’s Berkshire Hathaway continues to hold its positions in Bank of America, further solidifying the asset’s potential. Berkshire Hathaway currently holds about $38 billion worth of Bank of America stock.
BYD:
BYD is the new electric vehicle heavyweight that recently overtook Tesla as the world’s largest EV manufacturer. Furthermore, Berkshire Hathaway also holds a position in the company.
Also Read: Gold Prices Forecasted to Reach $7,000: Here’s When
BYD overtaking Tesla as the largest EV manufacturer may reflect in the company’s stock performance this month. Hence, BYD could be an asset to watch out for.
Occidental Petroleum:
Occidental Petroleum is another one of Buffet’s choices that investors could keep their eyes on. Apart from Occidental Petroleum, Buffet’s Berkshire Hathaway also owns a significant amount of Chevron stocks. However, oil and natural gas stocks haven’t been the highlight of Berkshire Hathaway’s holdings in recent times.
Read More