Although stocks are wrapping up May on a strong note, this week's declines may have created some buying opportunities for investors. All 11 sectors of the S & P 500 retreated on Wednesday, adding to investors' concerns that the wider market may be weakening. Still, the S & P 500 is up 4.3% for the month, while the 30-stock Dow Jones Industrial Average has gained 0.9%. The Nasdaq Composite has advanced about 7.6% this month.
Although stocks are wrapping up May on a strong note, this week's declines may have created some buying opportunities for investors. All 11 sectors of the S&P 500 retreated on Wednesday, adding to investors' concerns that the wider market may be weakening. Still, the S&P 500 is up 4.3% for the month, while the 30-stock Dow Jones Industrial Average has gained 0.9%. The Nasdaq Composite has advanced about 7.6% this month.
"Despite cleaner headline results than recent quarters, concerns around the runway for margins beyond '24 + the med-term EPS growth algo are unlikely to fade in the near-term," Jefferies analyst Trevor Williams wrote in a May 1 note, maintaining his buy rating but lowering his target price by $30 to $140. "We're encouraged by April trends , and believe more confidence in post-'24 Merchantalso made the screen, coming in as a cheap stock that analysts are bullish on.