The Dow Jones Industrial Average gained 1.2% last week. Yet it was anything but a smooth ride for investors.
The Dow on Wednesday suffered a 530-point drop after the Federal Reserve raised rates. Fed Chair Jerome Powell also noted that financial conditions " seem to have tightened " after the failure of three banks in March. The Dow posted solid gains Thursday and Friday, but they came after the 30-stock average swung between intraday gains and losses — as the market assessed future monetary policy moves and the state of the global banking system. .
" However, he added that "inventory accumulation in PCs makes the near-term outlook for Client Computing tougher than previously expected, with continued share loss in server dragging further on revenue recovery." Another stock that made the list is 3M . The Scotch tape and Post-it note maker has sell ratings from 19% of analysts covering it. The average price target on the stock implies upside of roughly 15%, but the stock has fallen 15.
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