The US stock market closed Friday’s bell in the red as leading equities experienced a correction in the charts. The Dow Jones Industrial Average dipped by 305 points while Nasdaq Composite fell by 427 points. In addition, the S&P 500 index slipped 79 points making the overall markets trade in the red.
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The stock market snapped its 10-day winning streak in the indices fueled by Trump’s victory in the US election. A brief sell-off was initiated by investors who made quick returns in the last two weeks. The broader market is still brimming with optimism as investors believe Trump’s second term could benefit the economy. In this article, we will highlight two hot stocks to watch out for on Monday during the opening bell.
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US Stock Market: 2 Hot Picks For Monday
1. Domino’s Pizza Inc (NYSE: DPZ)
Ace investor Warren Buffett has taken an entry position into Domino’s Pizza, Berkshire Hathaway’s latest 13F filing reveals. The investment arm has accumulated 1.28 million shares of Domino’s Pizza worth a whopping $557 million. Domino’s Pizza is on the lower end of the barrel in the US stock market and could surge on Monday after the filing was made public. DPZ is mostly trading sideways and is consolidating in the charts this month. When it picks up steam, it can go from $430 to a high of $475 next.
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2. Vertex Pharmaceuticals Inc (NASDAQ: VRTX)
Vertex Pharmaceuticals stock is currently hovering around the $465 mark in the US stock market. The firm is the only approved therapy to treat the underlying cause of cystic fibrosis (CF), a rare genetic disease. The pharmaceutical firm is projected to generate a revenue of around $10.8 billion this year. Therefore, the stock has more chances of an upside run when the yearly earnings are published. Taking an entry position now could prove beneficial as it’s nearly 50% down from its 52-week high.