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Best stocks to buy for the week ending Jan. 31, 2014: A sharp sell-off in emerging markets, disappointing earnings from several key companies, and further tapering from the U.S. Federal Reserve left markets reeling last week.
The Dow Jones Industrial Average ended the week down 1.14%, or 180 points, to close at 15,698.85, making January its worst month since May 2012. The Standard & Poor's 500 Index slipped 0.43% over the week and shed 3.6% in January to end at 1,782.59. And the Nasdaq ended the week off 24 points, or 0.6%, at 4103.88, down 1.7% in January.
Despite the nosedive, investors still have plenty of opportunities for profit. Money Morning keeps readers current on the best stocks to buy now and the best investing moves to make for any market conditions. Here's what we covered last week:
- Biotech is one of the most lucrative – and misunderstood – sectors today. Many Wall Street "analysts" covering biotech don't possess full knowledge of the industry: the science, the regulatory agencies, the doctors who will be prescribing new drugs in the pipeline. Misinformation spread by analysts can sometimes trigger unwarranted double-digit sell-offs… but herein lies opportunity. Money Morning BioScience Investment Specialist Ernie Tremblay found such a case last week and explained why this ingenious company will soar, despite an "analyst" claim.
- Fears of a slowdown in China, the world's second-largest economy, rippled through global markets last week. But Money Morning Defense & Tech Specialist Michael A. Robinson cautions that investors who "just write off China are going to miss out on one the biggest profit opportunities in global technology." Robinson tells readers about this lucrative market and shares exactly how to play it for maximum gain.
- Robinson also found the next tech wave for investors in connected cars. The average age of a car on U.S. roads today is 11.4 years, and this figure should propel new car sales for the next two to five years. He zeroed in on three ways investors can play the auto-tech boom with three different niche market players.