Published on 28 Mar 2024 on Insider Monkey via Yahoo Finance

13 Hot Stocks to Invest in According to Wall Street Analysts

In this piece, we will take a look at the 13 hot stocks to invest in according to Wall Street analysts. If you want to skip our overview of the stock market and the latest news, then you can skip ahead to the 5 Hot Stocks to Invest in According to Wall Street Analysts.

Just like in 2023 and 2022, the stock market of 2024 is focused on the Federal Reserve. Now that investors are finished with the euphoria surrounding artificial intelligence stocks, and are happy with NVIDIA Corporation (NASDAQ:NVDA)'s latest supply and pricing details for the Blackwell artificial intelligence processors, they can now turn their focus back on what the Fed might or might not do later this year.

This macro trend can very well decide which stocks are hot or not. This is because high interest rates mean that high growth firms find it difficult to raise capital and the opportunity costs for investors to pile their money into speculative investments also go up. One of the strongest examples of this trend is stocks in the clean energy sector. Before the coronavirus pandemic, clean energy was one of the hottest sectors in the world with investors rushing in hand over fist. However, now that interest rates are high, clean energy stocks are in a bear market if we consider the 12-month performance of the S&P Global Clean Energy Index. The index of clean energy stocks is down by nearly 27% over the past twelve months, and it is one of the strongest examples of potentially hot stocks if the Federal Reserve changes its course of action on interest rates.