One day of historic year left | What to buy next year? | Fed averts crisis
EDITOR'S NOTE
We're coming to the close of a banner year for stocks, much of it driven by key technology names.
Apple and Microsoft top the list of the year's best-performing stocks in the Dow Jones Industrial Average, and three companies in the semiconductor business - AMD, Lam Research and KLA – have helped lead the S&P to a gain of nearly 29%, writes CNBC's Jesse Pound.
Financial services have helped the Dow notch a gain of more than 22% this year with Visa, J.P. Morgan Chase and Goldman Sachs among the top performers in the index. Stocks took a breather Monday, as each of the major indexes slid. With only one more trading day left in the year, it's time to think about what's going to move in 2020.
Pound identifies S&P 500 stocks that are most favored by analysts for the next year. At the top of the list are energy companies from a sector that underperformed in 2019. Tech names also make the list of 2020 picks, including Salesforce, Amazon and Facebook.
There are bound to be surprises. Consider that in 2019, Target is up 95.5%, an astonishing performance for a mature retailer. And then there's Chipotle, up 93.8%, which is amazing for a simple purveyor of the humble burrito.
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