As we head into a critical week for the market, which stocks are Wall Street’s top analysts backing now? On Wednesday, the US Federal Reserve will decide whether to cut interest rates, or leave them unchanged at a range of 2.25% to 2.50%. Despite pressure from President Trump and investors, the Fed is expected not to make any moves right now- but to set the groundwork for potential rate changes later in the year.
According to a Reuters poll, most of the more than 100 economists polled June 7-12 say they are not penciling in a rate cut until Q3 of next year. But 40 respondents expected at least one rate cut sometime in 2019, up from just eight who did in the previous poll. That suggests views are changing rapidly as pressure mounts.
“Right now, they’ll just give a very dovish message that leans toward a July rate cut,” Joseph LaVorgna, chief economist for the Americas at Natixis, told CNBC. “The market is worried enough about weakness in China, inflation undershooting and the possibility that tariffs disrupt the global supply chain that it’s hard for me not to think the Fed won’t be moving faster than people thought.”
So with this volatility in the background, it’s best to be prepared. Here we pinpointed three stocks with most support from the Street in the last seven days. As you can see below, not only do these stocks boast multiple recent buy ratings, but they also show a ‘Strong Buy’ Street consensus. This is based on all the ratings the stock has received over the last three months.