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As the first week of 2023 comes to a close, some stocks are already outperforming. A mixed set of economic data released this week has prompted rocky trading as investors try to predict how the Federal Reserve will move interest rates this year. Friday's closely-watched December jobs data showed employment growth was hotter than economists forecast, while hourly wage growth was lower than expected. Data earlier in the week on job openings and manufacturing was similarly mixed.
Discovery, about two out of every five analysts rate WDC a buy, with an average upside of 20.4%. Wynn Resorts also gained big this week, rising 11.5% so far. Just about every other analyst rates the stock a buy, and the average analyst expects a 4.3% upside for the stock. Wynn lost about 3% in 2022, outperforming the S & P 500 as travel demand increased.
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