Best Stocks to Buy Right Now

With the Covid pandemic easing as we progress through the winter of 2023, it’s reasonable to assume the US economy and global economy would improve.

As the chart for the last 5 years from Yahoo Finance reflects, what was happening before the pandemic wasn’t so good for stocks. Corporate profits soared during the pandemic due to stimulus spending. But now, stimulus spending is likely to be low and money is scarcer.

So now, it’s like investors are at the casino, in the horse betting section ready to pick their ponies.

In 2023/2024, the Biden admin will likely be unable to spend as they have been. This is where companies and consumers get honest. With the money supply shrinking fast and interest rates rising, the markets have to suffer.  Just returning to normal prepandemic levels is a huge let down. Yet, consumers still have a lot of savings and companies are definitely cash rich.

All ships will sink lower as the tide shifts outward. That realization in the next 3 months should along with the debt crisis should cause investors to exercise cautions.  FED rate hikes have slowed and will stop by May.  Investors will overestimate the value of the FED pivot and begin spending.

Before that you like everyone else will have to pick some stocks that might be stable or come flying out of the economic downturn. We take a look at some of those stocks now. Please note, this is not to be considered advice on buying any particular “best stocks to buy”, but rather to get you focused on those that are relatively safe and have good prospects.

Best Sectors for 2023

It’s wise to look at the S&P sectors right now for poor performance, and into the next 6 months for the full post pandemic lift.  Whether you’re picking ETFs or specific high growth stocks, you should be certain of which sectors have support. Do you trust the predictions of all the experts you find on Google? They’re all over the place, so this is one time you’ll have to figure out yourself.

 

Experts believe we’re near the bottom of the market so you may get your chance to buy some undervalued stocks and see huge gains over the next 5 years.  You should be an expert on the 3 month picture, understand the turnaround in the late spring, and have a view of where we’re headed in the next 10 years.

Best Market Sectors

CNBC’s sector watch report is a good starting point to give a quick synopsis. As you can see, it’s all red this week. Technology and consumer discretionaries took a beating, followed by materials and industrials to the downside.

If the economy does recover in the second half of 2023, then consumer discretionaries might begin to look good. Some stock advisors have noted consumer discretionaries as investible. They may hit their bottom in the next 3 months.

Market Sectors this week.
Market Sectors this week. Screenshot courtesy of CNBC.

Here are some of the very best stocks of late below in the chart. Energy and transportation show strength.

Top Stocks last 3 months.
Top Stocks last 3 months. Screenshot courtesy of Barchart.com

With interest rates rising, inflation high, and supply chain issues, many investors are looking hard at materials. That’s assuming the US and global economies do get rolling again.  The Dow Jones is up strong today, after Q3 GDP showed a 3.2% gain, much higher than anticipated.

Best Performing Stocks so Far this Year

Here’s a look at the best performers, and you can drill down further on Barchart.com. Subscribe and you can run your own stock screeners.

Best stocks in 2023.
Best stocks in 2023. Screenshot courtesy of Barchart.com

See the list of best stocks to buy below and keep your eye on the 3 month, 6 month, 5 year and 10 year market forecasts. There is no forecast that has 100% winner predictions. The way ahead is volatile and you’ll need more insight.

Should you Wait a Bit?

Should you be buying the dip right now?  Some believe there is no dip.   glued to this week’s forecast, or look down the road at the 3 month forecast or 6 month forecast to capture the cream of the crop and then safely exit? Or how about stocks that will perform over the next 5 years or 10 year long term?

If you’re looking for hot stocks right now, we’ve got a collection recommended by the experts below. These are the stocks with the best value, momentum and growth.

Among these stocks listed as best stocks to buy right now, are many you have likely never heard of. Do your research with trusted sources before parking your 401k money in them. You can check out each stock individually on Google Finance or Yahoo Finance, The Fool, Benzinga, Trading View, and other stock brokerage websites.

Investors.com cites these 5 stocks as buys:

  1. Eli Lilly (LLY)
  2. Neurocrine Biosciences (NBIX)
  3. Cardinal Health (CAH)
  4. Texas Roadhouse (TXRH)
  5. Shift4 Payments (FOUR)

Moneycrashers gave the green light to these stock picks:

  1. Amazon
  2. Devon Energy Corp (NYSE: DVN)
  3. Meta Platforms Inc (NASDAQ: META)
  4. H&R Block Inc (NYSE: HRB)
  5. ASML Holding NV (NASDAQ: ASML)
  6. Exxon Mobil Corp (NYSE: XOM)
  7. UGI Corp (NYSE: UGI)
  8. Duke Energy Corp (NYSE: DUK)

Kiplinger’s top recommendations to buy now:

  1. Amazon
  2. Alphabet
  3. Paypal Holdings
  4. Allbirds
  5. Dutch Bros
  6. Walt Disney
  7. Nvidia
  8. Lowes
  9. Home Depot
  10. Prologis
  11. Target
  12. Chevron
  13. Digital Realty Trust
  14. Realty Income
  15. Energy Transfer LP

Fortune Builders chimes in with their best stocks to buy:

  1. Ford Motor Company (NYSE: F)
  2. Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL)
  3. QUALCOMM Incorporated (NASDAQ: QCOM)
  4. Salesforce, Inc. (NYSE: CRM)
  5. Palo Alto Networks, Inc. (NASDAQ: PANW)
  6. The Walt Disney Company (NYSE: DIS)
  7. Prologis, Inc. (NYSE: PLD)
  8. The Boeing Company (NYSE: BA)
  9. MercadoLibre, Inc. (NASDAQ: MELI)
  10. Costco Wholesale Corporation (NASDAQ: COST)

Forbes Advisor top stocks to buy are:

  1. Asbury Automotive Group Inc. (ABG)
  2. United Microelectronics Corporation (UMC)
  3. Builders FirstSource, Inc. (BLDR)
  4. TopBuild Corp. (BLD)
  5. TFI International Inc. (TFII)
  6. Saia, Inc. (SAIA)
  7. Deckers Outdoor (DECK)
  8. Pool Corporation (POOL)
  9. Entegris, Inc. (ENTG)

With the S&P and NASDAQ continuing to explore new record heights, is big tech really where you want to be? Sure Tesla is hot and 5G is being pursued by big telecom.  Good long term bets.

What’s Hot on the Dow Jones, NASDAQ, S&P and Russell Indexes

Stock prices on the Dow Jones, NASDAQ, S&P, Russell, TSX and overseas stocks markets have been recovering well.

You should be looking for the best stocks to buy while prices are low. But this recovery might be volatile and prolonged, so you’ll have plenty of time to pick the stocks you want.  Begin with a good overall stock market forecast.

Should I Buy Stocks that Have Plunged the most in the last Few Weeks?

Buying the dip is the rule, however no one is sure when the market bottom will happen.  Technical charts won’t help given the decision to suppress the economy is up to the President and the Fed. It’s a political decision.

Should you buy stocks on the Dow Jones or NASDAQ or the Russell Index?  Keep your eyes on the Dow Futures.

Stock Market Forecasts – Dow S&P NASDAQ

the above post includes opinions of the author and do not connote buy recommendations of any kind regarding stocks to invest in. The material is provided as information only. Please choose stocks cautiously after thoroughly reviewing the market and the company involved. Consider a qualified financial investment advisor to help you with your social directed stock investing strategy.

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