HomeBusiness1 share to buy, 1 share to sell this week: Shopify, Occidental...

1 share to buy, 1 share to sell this week: Shopify, Occidental Petroleum

• CPI inflation, retail sales, producer prices and more profits will be in focus this week.

• Shopify stands out as a purchase, especially with the holidays just around the corner.

• Occidental Petroleum’s challenging landscape makes it a matter of caution.

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US stocks closed higher on Friday to cap their best week of the year, as the Dow Jones and S&P 500 rose to new records after Donald Trump’s decisive election victory.

Investors are betting that a Trump administration will provide lighter regulations and tax cuts that could boost the US economy.

For the week, the blue-chip Dow Jones Industrial Average rose 4.6%, the benchmark S&P 500 gained 4.7% and the tech-heavy Nasdaq Composite fell 5.7%.

Source: Investing.com

The coming week is expected to be an eventful one as investors assess the prospects for the economy, inflation, interest rates and corporate earnings.

On the economic calendar, the US consumer price inflation report for October will be the most important on Wednesday. The annual CPI is expected to rise by 2.4% year over year.

Other notable economic reports include U.S. retail sales data, as well as a producer prices report, which will help complete the inflation picture.

Source: Investing.com

That will be accompanied by a heavy list of Fed speakers, including Chairman Jerome Powell on Thursday.

Elsewhere, earnings season continues, with a list of notable names due soon including Walt Disney (NYSE:DIS), Home Depot (NYSE:HD), Cisco (NASDAQ:CSCO), Applied Materials (NASDAQ:AMAT), Shopify ( NYSE:SHOP ) , Spotify ( NYSE:SPOT ) , and Alibaba ( NYSE:BABA ) .

Regardless of which direction the market moves, below I highlight one stock that is likely to be in high demand and another that could see new downside. Please note, however, that my time frame is only for the upcoming week, Monday, November 11 through Friday, November 15.

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Shopify stands out as a top buy this week, as the e-commerce software leader is expected to deliver another quarter of strong revenue growth and provide an optimistic outlook thanks to robust growth across key metrics.

Shopify’s report will be released Tuesday at 7:00 AM ET. Market participants expect a significant swing in SHOP stock after the price decline begins, with a possible implied move of about 14% in either direction, according to the options market. Shares rose 26% after its last earnings report in August.

Source: InvestingPro

Analysts have raised earnings forecasts 33 times in recent weeks, an InvestingPro survey found, underscoring confidence in Shopify’s continued expansion.

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