The US stock markets had a fabulous run in 2024, as all the top three indexes surged in value. The S&P 500 and Nasdaq Composite shot up 15%, while the Dow Jones Industrial Average surged 8% year-to-date.
Investors who entered the index funds this year made profits as leading stocks spiked in value. The stocks to watch are growing as most equities in the US markets are trading in the green.
US stocks are defying the trends amid calls for a recession echoing by financial strategists. An investment at the right time during the bull run could make investors reap profits. This article will highlight the top three stocks to watch in the US markets that could generate more significant returns.
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US Tech Stocks Rallying in 2024
Leading investment bank Goldman Sachs recently published a report indicating that US tech stocks could rally in the markets and that investors need to watch out for their growth.
Tech stocks have pulled the US stock markets out of the slumber, making the sector boom in 2024. Below are the top 3 stocks to watch in the US stock markets to make profits.
Top 3 Stocks in the US Markets To Watch Out For
1. Microsoft Corporation (MSFT)
Goldman Sachs explained that US tech stocks could experience “magical moments”, and Microsoft could lead the pack. The investment bank wrote that a steady dose of interest rate cuts from the Federal Reserve could boost Microsoft’s price.
The bank’s analysts wrote that if Feds initiate rate cuts, Microsoft’s price could surge by 20% to 30% and leave behind the average 11% rise. “We have to get the industry back from an 11% growth rate to 20%-30% and to do that, new innovation has to happen,” said Kash Rangan.
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2. Salesforce Inc.
Salesforce, a Customer Relationship Management (CRM) tech firm, is among the stocks to watch in the US markets.
The firm announced it would acquire the Own Company for $1.90 billion in cash. The acquisition will enhance the CRM’s ability to provide robust data to customers with enhanced security.
A recent prediction from Wall Street indicates that a surge of 8% is on the cards for Salesforce.
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3. NVIDIA Corporation (NVDA)
NVIDIA will be the king of all stocks in the US markets in 2024 and will remain relentlessly on the watch list. It has surged 124% year-to-date and more than doubled investors’ money in the last nine months.
Analysts predicted that the tech giant still has some steam left as it is attracting heavy buying pressure. “First of all, demand for accelerated computing continues to be really strong. We do remain positive on the stock,“ wrote Goldman Sachs.
