This week, the Federal Reserve's decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, industrial, machinery, and financial sectors.
These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
- Constellation Energy (NASDAQ:CEG) stock jumped 30.11% last week after signing a 20-year power purchase agreement with Microsoft (NASDAQ:MSFT) to help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.
- Vistra Inc.'s (NYSE:VST) stock gained 26.10% last week after the company executed definitive agreements with affiliates of Nuveen Asset Management and Avenue Capital Management II to acquire their combined 15% equity interest in Vistra Vision.
- Carvana Co.'s (NYSE:CVNA) shares increased 22.52%. Evercore ISI raised its price forecast on the stock from $142 to $157.
- Symbotic Inc (NASDAQ:SYM) stock gained 19.06% last week as stocks in the broader industrial space jumped following the Fed's announcement to cut rates by 50 basis points, which could support investment and economic growth.
- Duolingo, Inc. (NASDAQ:DUOL) stock was up 17.32% in the last week.
- James Hardie Industries plc (NYSE:JHX) stock upped 16.38% as stocks in the broader industrial space jumped following the Fed's announcement to cut rates by 50 basis points, which could support investment and economic growth. The company also announced it has repurchased up to 8.4 million of its shares.
- Texas Pacific Land Corporation (NYSE:TPL) gained 15.73% as stocks of oil and gas companies soared amid a rise in the price of oil after the Fed rate cut, which could lift the demand outlook.
- CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock gained 15.71% as several analysts maintained their buy forecasts and said the customer backlash following the software incident had largely passed.
- Maplebear Inc. (NASDAQ:CART) shares rose 13.92%
- Mobileye Global Inc. (NASDAQ:MBLY) stock jumped 13.47% last week after Intel Corp (NASDAQ:INTC) assured investors it would not drop its majority stake in the Israeli autonomous driving company.
- Li Auto Inc. (NASDAQ:LI) stock rose 12.66%. Stocks of several U.S.-listed Chinese companies gained ahead of expectations that the People's Bank of China will cut rates.
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