Market review from UTEX – week 25

U.S. markets closed the week in the positive again – S&P 500 added 1.5%, Nasdaq +3.5%. Broadcom (+23% for the week), Adobe (+13%) and Oracle (+10%) reported well. NVIDIA added another 9%, Apple +8%.

Bitcoin has pulled back slightly from its highs and is trading around $65,700. Altcoins are also correcting.

As expected, the Fed left the rate unchanged. Powell said that there is not yet enough confidence in a sustained inflation slowdown to cut the rate. Only 10% of market participants now believe the rate could be lowered at the July meeting.

On Wednesday America will celebrate Juneteenth and the stock exchanges will be closed. The market is not expected to be very active this week, but here are five interesting stocks to trade in the coming days.

Jabil (JBL). Report on June 20 before the open. Electronics manufacturer. Good support at $110. If it holds, could go back to its highs at $155.

CarMax (KMX). Report on June 21 before the open. Used-car sales company. The stock has fallen from $150 to $55 since the start of 2022, has tried to regrow several times, but so far without success. Support $65, target $90 if the report pleases investors.

Accenture (ACN). Report on June 20 before the open. The consulting company with a capitalization of $180 billion. The stock fell almost 25% during the quarter – it may be a buy.

Lennar Corp. (LEN). Report on June 17 after the close. The second-largest U.S. construction company. The sector has been treading water for six months. Perhaps the LEN report will be the driver of a new wave of growth or profit taking. Dark horse.

Chipmakers. There will be no reports this week, but this is the hottest and most volatile sector now, so we can't leave it without attention. NVDA, ARM, TSM, AMD, AVGO, QCOM, INTC, TXN, SMCI.

Good trading!