Top 5 Analyst Picks for August: SentinelOne, Toll Brothers, NVIDIA, Domo, and eBay

US stocks settled lower on Friday, but major indices recorded gains for August. The Dow gained 3%, the S&P 500 surged 2%, and the Nasdaq gained 1.6%. Analysts made new stock picks daily, but not all analysts have impressive track records. Five most accurate Wall Street analysts' recent picks include SentinelOne, Toll Brothers, NVIDIA, Domo, and Domo. Analysts expect around 56% upside in SentinelOne, 20% in Toll Brothers, 33% in NVIDIA and Domo, and 33% gain in Domo.

US stocks settled lower on Friday, but major indices recorded gains for August. The Dow Jones Industrial Average (DJIA) gained 3%, the S&P 500 surged 2%, and the Nasdaq Composite Index (.IXIC.US) gained 1.6%. Despite the overall positive performance, technology stocks experienced a sell-off, dragging down the broader market [1].

Key technology stocks such as NVIDIA and Super Micro Computer (SMCP) declined significantly, while Alibaba (BABA.US) achieved its best single-day performance since March 2023, rising over 12% [1]. Analysts have been making new stock picks daily, but not all have impressive track records. Five most accurate Wall Street analysts' recent picks include SentinelOne, Toll Brothers, NVIDIA, Domo, and Domo [2].

Analysts expect around 56% upside in SentinelOne, 20% in Toll Brothers, 33% in NVIDIA and Domo, and 33% gain in Domo. These expectations are based on various factors, including earnings reports, market conditions, and geopolitical events [2].

The market is adopting a cautious stance in preparation for potential seasonal challenges in September. The Nasdaq underperformed small-cap stocks in August, with the S&P 500 accumulating a rise of 1.91% [1]. The U.S. Treasury yields were mixed, with the 10-year yield rising by 2.3 basis points, and the 2-year yield falling by a cumulative 33 basis points [1]. The U.S. dollar index initially rose before declining, while Bitcoin dropped below the $109,000 mark [1].

Oil prices fluctuated in the short term due to the volatile situation between Russia and Ukraine, retreating from some of their gains on Friday; however, for the month as a whole, concerns about oversupply led to a general decline in oil prices [1]. Gold prices rose for four consecutive days, breaking through a key downward trend line, and at one point increased by 1.46% from the intraday low [1].

References:
[1] https://news.futunn.com/en/post/61426318/us-stock-market-closing-leading-technology-stocks-declined-dragging-down
[2] [Provided Writing Topic]