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A new year of trading has begun, but many of the problems from 2022 have carried over into 2023. It's still not clear when the Federal Reserve will pare back its tighter monetary policy, leading to worries about a potential U.S. recession. However, recent economic data shows signs that inflation may be easing. The Bureau of Labor Statistics said Friday that U.S. wages rose 0.3% month over month. That's less than a Dow Jones expected gain of 0.4% and contributed to a sharp market rally.
Pro combed the top 2023 picks from nine research firms to find the most common stocks between them. One of those stocks is Amazon . The e-commerce giant is coming off a tough year, falling 49.6% for its biggest annual decline since 2000 — when it lost nearly 80% of its value. Still, JPMorgan, Loop Capital and Deutsche Bank all named it a top pick for 2023. "We like AMZN for the significant earnings leverage as the cost structure begins to normalize.
mountain Amazon in past year Another top pick shared among several analysts is brokerage Charles Schwab . The stock fell 1% last year, but that easily outperformed the S & P 500's 19.4% drop. Analysts at UBS, Deutsche Bank and JPMorgan named it a top pick. "We like Schwab going into 2023 because of the downside protection and multiple avenues of upside it offers," wrote JPMorgan's Kenneth Worthington.
's Michael Bloom contributed reporting.
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