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Airbnb Takes the Lead Amongst 5 Promising Stocks Nearing Buy Points


Sep 16, 2023

S&P 500 newcomer Airbnb (ABNB) and online sports betting platform DraftKings (DKNG) are among the five stocks to watch this weekend. These stocks have the potential for a rally if the S&P 500’s rally stabilizes. The list also includes Costco Wholesale (COST), Argenx (ARGX), and ServiceNow (NOW). DKNG, NOW, and ARGX are all part of the IBD 50 list of leading growth stocks and are on the IBD Leaderboard’s Elite Stock Portfolio watchlist. Airbnb is set to join the S&P 500 on Monday. However, the S&P 500 fell sharply on Friday, signaling a potential loss of momentum for the stock market’s rally.

One major hurdle for growth stocks is the return of 10-year Treasury yields above 4.3%, which is near a 15-year high. The upcoming Federal Reserve meeting next week will be important, as the focus will be on the Fed’s guidance on interest rates. While a soft landing for the economy is a positive, it could also mean high interest rates for an extended period.

DKNG stock, DraftKings, recently launched its Golden Nugget Online Gaming casino app in Pennsylvania and reported its first profitable quarter. ABNB stock, Airbnb, is experiencing growth in the vacation rental market. COST stock, Costco, has reported strong sales and exceeded expectations. ARGX stock, Argenx, has made progress with its drug Vibgart. NOW stock, ServiceNow, is ranked #1 in the Enterprise Software industry and has been highlighted for its revenue growth and AI efforts.

Overall, these stocks offer potential opportunities for investors, but it’s important to stay informed about market direction and make informed trading decisions.

By Editor

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