(NASDAQ: DKNG ), and Exact Sciences Corporation (NASDAQ: EXAS ). Some of the top stocks to monitor as the US recovers from recession fears and embarks on a path to growth include NVIDIA Corporation (NASDAQ: NVDA ), DraftKings Inc. It is anticipated that the 10-year Treasury yield to reach 3.4% by the end of 2023 and 3.0% in 2024. This additional credit tightening is expected to result in 25-100 basis points of rate hikes and roughly a 0.25 percentage point decrease in real GDP growth in 2023. As part of ongoing efforts to tighten credit, the Federal Reserve recently raised its policy rate once more to a range of 5.00-5.25%. The headline CPI inflation is expected to average 4.0% in 2023 before easing to 2.8% in 2024. However, a recession is anticipated in the latter half of the year, which will drag down growth to 0.8% in 2024. Recession is a common occurrence in economic cycles and has historically presented attractive opportunities for long-term investors.Īlthough the first quarter showed strong performance, the forecast for real GDP growth is revised in 2023 to 0.9%. However, despite these factors, the labor market in the US remains strong, and economists have differing opinions on whether a recession is inevitable given the unique economic circumstances. Other reliable economic indicators also indicate warning signs for the US economy. The New York Fed's recession probability indicator, which is at its highest level in over four decades, suggests a 68.2% chance of a US recession within the next year. Factors such as increasing interest rates, high inflation, an inverted yield curve, and an unexpected banking crisis have all been cited as potential triggers for a recession. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Booming Stocks to Buy Now.ĭespite predictions of an impending recession since mid-2022, the US economy has not shown any signs of a downturn in the past nine months. In this article, we discuss the 10 best booming stocks to buy now.
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