Today, The Weekly Buzzing Stocks by Billy Kawasaki and Stan Wong commented about whether MBGYY-OTC, CP-T, ASML-Q, PFE-N, NVDA-Q, DIS-N, GOOG-Q, T-T, GWO-T, L-T, SU-T, CI-N, AMZN-Q, ZQQ-T, BCE-T, CDZ-T, XEI-T, NTR-T, FCX-N, BHP-N, ZDY-T, VFV-T, DE-N, TUP-N, AOS-N, DTE-N are stocks to buy or sell.
It's been 9 months since the lows of October 2022. One word describes the rally, it's all about resilience. Many challenges such as a banking crisis in the spring, rising rates along the way, lingering recession worries. Markets are all 30% or higher at this point from the October lows.
Earlier this year, there were concerns about market breadth. Recently, we're seeing breadth expand. About 75% of the S&P 500 constituents are trading above their 200-day moving averages. Broader participation in the rally from other sectors, which is very healthy.
He attributes expanding breadth of the S&P rally to inflationary pressures cooling, which will lead to a pause in central banks' interest rate hiking. Potentially in 2024, we'll see a lowering of interest rates. Futures in the back half of the year show we may see some falling interest rates in the US. A stable interest rate environment is always good for stocks and bonds.
Likes it for dividends. Lots of large-cap banks and pipelines. Defensive, fairly conservative. Names like TD, CNQ, RY, SU, ENB. Very good dividend yield of 5.1%. Banks are cheap right now, so potential for a pretty good move up. Once interest rates fall, the telcos in this particular ETF will perform well.
Likes XEI for dividends. Lots of large-cap banks and pipelines.
CDZ has more mid-caps than the large caps that XEI has. Includes names like KEY, CSH.UN, GWO and ARE. More diversification, but more beta. Yield is 3.8%, not bad. Could complement XEI, but you may want to look at US or global dividend strategies for more diversification.