The headline's a little misleading. It's not really the 10 best investments but the best investments across 10 different categories, which means it's really about some 50 best investments. But that makes it even more valuable reading. Hope everyone's having a nice weekend.
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The S&P 500 started the year slowly after a bang-up performance in 2023. Sector performance has been mixed. Growth stalwarts technology and communication services are leading the pack three weeks into the year, and traditional defensives like utilities and consumer staples are in the red.
"The biggest factor expected to influence stock returns in 2024 is the expectation of falling interest rates," says Robert Johnson, CEO of New York-based Economic Index Associates. "Interest rates are critical inputs to the valuation process, and influence the value of stocks and bonds."
In a Jan. 17 research report, "Three Investing Trends for 2024 and Beyond," Morgan Stanley analyst Michael Zezas wrote that artificial intelligence will continue to be a disruptor, and decarbonization will offer investment opportunities.
With that in mind, here's a look at 10 of the major asset classes as the year gets underway:
Growth stocks. Technology stocks are typically among the ranks of fast growers, as are communications services and consumer discretionary stocks. Growth stocks offer the potential for significant long-term gains, especially for companies with strong fundamentals and innovative products or services. Growth stocks that analysts expect to continue to do well over the next 12 months include Amazon.com Inc. (ticker: AMZN) and Exxon Mobil Corp. (XOM).
Value stocks. Value stocks are those overlooked by the market, but which have strong fundamentals and the potential for future growth. Value stocks lagged in 2023 as growth stocks exploded, largely thanks to the promise of tech companies set to gain from artificial intelligence. Some value stocks on analysts' radar now include PayPal Holdings Inc. (PYPL), International Business Machines Corp. (IBM) and Hormel Foods Corp. (HRL).
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