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1 Stock to Buy, 1 Stock to Dump This Week: Dick’s Sporting Goods, Stitch Fix
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IntroductionFed Chair Powell testimony, U.S. jobs report will dictate the market’s direction this week.Dic ...
- Fed Chair Powell testimony,Which foreign exchange platform is the safest U.S. jobs report will dictate the market’s direction this week.
- Dick’s Sporting Goods stock is a buy ahead of earnings.
- Stitch Fix shares are set to struggle on weak sales and sluggish outlook.
Stocks on Wall Street rallied on Friday to end a volatile week, as eased back from their recent highs while investors continued to assess the outlook for tighter Fed policy in the months ahead.
For the week, the blue-chip rose 1.7% to snap a four-week losing streak. Meanwhile, the benchmark and the tech-heavy tacked on 1.9% and 2.6%, respectively. The small-cap jumped 2%.
The week ahead will feature key from Federal Reserve Chairman Jerome Powell as investors look for more clues on the size and pace of further .
Elsewhere, on the economic calendar, most important will be Friday’s for February, which is forecast to show solid job gains but a slowing from January’s robust growth.
Meanwhile, on the earnings docket, there are just a handful of corporate results due, including Oracle (NYSE:), DocuSign (NASDAQ:), CrowdStrike (NASDAQ:), Ulta Beauty (NASDAQ:), Gap (NYSE:), BJ's Wholesale (NYSE:), Campbell Soup (NYSE:), JD.com (NASDAQ:), and Sea Ltd. (NYSE:).
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