Schaeffer's Top Stock Picks for '25

Dow, SPX Head for Best Week of 2024

Wall Street is fresh off a record-setting session

Deputy Editor
Mar 22, 2024 at 12:18 PM
facebook X logo linkedin


Stocks are mixed Friday, but on track for weekly wins after yesterday turning in a record-setting session. While the Dow Jones Industrial Average (DJI) was last seen nearly 170 points lower, it, alongside the S&P 500 Index (SPX), is still on track for its best weekly performance in 2024. The Nasdaq Composite (IXIC), meanwhile, is just above breakeven this afternoon. 

Continue reading for more on today's market, including:

  • The worst blue-chip stock trading today.
  • Analysts and options traders are piling on this retail stock.
  • Plus, analyst praises BBY; FedEx's earnings; and FSR's struggles continue.

Midday Market Stats March 222024

Best Buy Co Inc (NYSE:BBY) is 2% higher this afternoon, last seen trading at $82.06 after J.P. Morgan Securities upgraded the stock to "overweight" from "neutral" and raised its price target to $101 from $89. The analyst assumes a roughly 23% upside for the stock, citing computing trends that will boost back-to-school sales. Today's gains helped BBY move higher by more than 5% for 2024, and call traders are taking note. So far, 5,479 bullish bets have crossed the tape, which is double the average intraday volume. The most popular contract is the weekly 3/22 82-strike put, which expires today and is seeing new positions being opened. 

BBY Chart March 222024

Worthington Steel Inc (NYSE:WS) is the best performing stock on the New York Stock Exchange (NYSE) this afternoon, after the company topped fiscal third-quarter earnings and revenue estimates. Earlier hitting a more than 12-month high of $40.15, WS was last seen up 23.3% at $39.37 and now stands 40.1% higher year to date. 

Near the bottom of the NYSE this afternoon is Fisker Inc Inc (NYSE:FSR). The embattled electric vehicle (EV) startup is pacing for its seventh-straight weekly loss, after recently revealing plans to file for bankruptcy. Last seen 7.1% lower at the site of its March 20 record-low of 11 cents, FSR has shed 98% over the last 12 months.

 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));