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Best stocks to buy for the week ending Jan. 17, 2014: The Dow Jones Industrial Average logged its first weekly gain of 2014 last week, even with mixed earnings results from big banks and industry heavyweights.
The 30-stock blue chip average tacked on 22 points to end the week at 16,458.58. The S&P 500 hit a record 1,848.38 Wednesday but closed the week down 4 points at 1,838.70. The Nasdaq ended the week with a 23-point gain to close at 4,197.58.
Money Morning helped readers decipher earnings reports to determine what the numbers mean for investors. We also brought investors the best stocks to buy in tech, pharma, and energy. Here's a recap:
- Gold got off to a solid start this year after a painful 28% drop in 2013 marked its first annual loss in 13 years. The yellow metal rose 0.4% last week to $1,252 an ounce, putting year-to-date gains up 4.14%. That's better than the three major benchmarks. And bullish gold bets from smart money investors are climbing, according to Money Morning Global Resource Specialist Peter Krauth. He showed us why investors would be wise to buy gold now.
- Many tech investors scored big gains in 2013, with the Nasdaq Composite Index soaring 38%. And tech's gains show no sign of slowing. Money Morning Defense & Tech Specialist Michael A. Robinson sat in on FOX Business's "Varney & Co" last Tuesday to discuss three major moves for tech stocks: the one thing that could send Apple Inc. (Nasdaq: AAPL) shares soaring to $1,000, what Google Inc.'s (Nasdaq: GOOG) purchase of Nest Labs for $3.2 billion means for the Internet giant's share price, and the technology breakthrough that could send Netflix Inc. (Nasdaq: NFLX) shares skyrocketing this year.
- In spite of the modest showing from the three major indexes last week, a handful of small biotech companies saw meteoric gains. Chelsea Therapeutics International Ltd (Nasdaq: CHTP) shares surged some 92% on a promising treatment for low blood pressure. And Clovis Oncology Inc. (Nasdaq: CLVS), up fourfold over the last 12 months, jumped 5% after receiving an upgrade from Citigroup. Picking winners in the lucrative biotech sector isn't easy, but Money Morning Bioscience Specialist Ernie Tremblay has unveiled an innovative new strategy for identifying the sector's next big winners. Let Tremblay's list of six factors to look for in small biotech companies guide you to hefty profits this year.