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- 📈 Alpha Picks & Market Update
📈 Alpha Picks & Market Update
22nd of Jan, 2024
Here’s your Alpha portfolio update for the week:
Returns so far this year +1.22%
Our leading stock is Forestar Inc currently at +2.5% while our position in Pampa Energia is lagging at -3.5%
Total positions: 18
See the investment portfolio for the rest of our positions.
US stocks hit all-time highs last week as investors continue to zero in on 2024 rates hikes, and despite sticky US inflation results.
The Nasdaq is up +2.72%, while the S&P 500 closed at an ATH, +1% weekly gain.
Leading Sectors: Technology, communication services and consumer discretionary led US markets on the week.
The UK recorded an unexpected rise in inflation. The annual rate rose to 4% in December, the first increase in ten months.
Our model at The Insider Memo calculates inflation to currently be at 2.98%.
Alpha Picks of the Week
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Hedge Fund trading activity
La-Z-Boy Incorporated (LZB)
La-Z-Boy Inc engages in the production of reclining chairs. It manufactures and distributes residential furniture.
LZB is trading near the top of its 52-week range and above its 200-day simple moving average.
Total Revenue increased 6.18% since last quarter.
Hedge Funds Increased LZB holdings by 61.4K in last quarter.
If the economic conditions weaken then stocks in the Consumer Durable sector would serve as defensive plays for investors.
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