This Cheap Dividend Stock Is 40% Undervalued and Yields Nearly 6%

Plus: Best undervalued energy stocks to buy, 3 top growth stocks to buy and hold this year, and going into earnings are Apple, Alphabet, Amazon, and Meta buys? [Morningstar](?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_stockstrategist&utm_content=51360&elqTrackId=38c5ee5b57b04841b38d1266afc6fd23&elq=25ba86d51c37410a9f96994aae60afa2&elqaid=51360&elqat=1&elqCampaignId=25781) [Stock Strategist] Stock Strategist January 29, 2024 Good Morning! Here's the rundown of what's happening in the stock market. Things seem to be coming up roses for the stock market. It looks like expectations for a [soft landing]( are on track, inflation is under control,and equities are [hovering in record-high territory](. A big test will come this Wednesday as the Fed announces its latest decision on interest rates. The Fed is widely expected to hold interest rates where they are, but the markets are pricing in six rate cuts this year. The only problem is that the markets – along with the Fed – are usually wrong about where interest rates will be several months and quarters down the road. Why is everybody wrong about the Fed? [We explain](. Meanwhile, earnings season is rolling on. As part of our coverage, we’re running guides on what to look for in earnings from [Apple]( [Alphabet]( and [Meta](¢Â€Â‹Ã¢Â€Â‹Ã¢Â€Â‹?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_stockstrategist&utm_content=51360&elqTrackId=5229da2c10d04414b6c210d496c8ae4a&elq=25ba86d51c37410a9f96994aae60afa2&elqaid=51360&elqat=1&elqCampaignId=25781), along with our analysts’ outlook for those stocks. Plus, we’ve got our analysts’ takes on companies that have released their earnings, such as [Tesla]( [Netflix]( and [Verizon](. Economic Releases Scheduled for the Coming Week - Tuesday, Jan. 30 - Jan. [Consumer Confidence Survey:]( 113.0K vs. 110.7K in Dec. - Dec. [Job Openings and Labor Turnover Survey]( 8,725K vs. 8,790K in Nov. - Wednesday, Jan. 31 - Jan. [ADP Employment Survey]( 145K vs. 164K in Dec. - Jan. [Chicago PMI]( 47.8 vs. 46.9 in Dec. - Jan. [Federal Open Market Committee]( decision on interest rates. - Thursday, Feb. 1 - Dec. [Construction Spending]( (month to month): 0.5% vs. 0.4% in Nov. - Jan. [ISM Manufacturing]( 47.3 vs. 47.4 in Dec. - [Initial Unemployment Insurance Claims]( report for the week ended Jan. 27: 214K vs. 214K for the week ended Jan. 20 - Friday, Feb. 2 - Jan. [Employment Situation]( Report - Nonfarm Payrolls: 170K vs. 216K in Dec. - Unemployment Rate: 3.8% vs. 3.7% in Dec. All consensus estimates are sourced from FactSet. Investor Relations Weekly Calendar: Highlighted Corporate Earnings and More - Monday, Jan. 29 Corporate Earnings: SoFi Technologies [SOFI]( - Tuesday, Jan. 30 Corporate Earnings: General Motors [GM]( Pfizer [PFE]( Alphabet [GOOGL]( Microsoft [MSFT]( For The Trading Week Ended January 26: - The Morningstar US Market Index rose 1.04%. - The best-performing sectors were energy, up 4.93%, and communication services, up 4.08%. - The worst-performing sector was consumer cyclical, down 1.39%. - Yields on 10-year U.S. Treasury notes fell to 4.14% from 4.15 %. - West Texas Intermediate crude prices rose 5.94% to $78.07 per barrel. - Of the 844 U.S.-listed companies covered by Morningstar, 569, or 67%, were up, three were unchanged, and 272, or 32%, were down. Which Stocks Are Up? Plug Power [PLUG]( Altice USA [ATUS]( Grifols [GRFS]( Xerox [XRX]( and Netflix [NFLX](. Which Stocks Are Down? Archer-Daniels-Midland [ADM]( VNET Group [VNET]( Tesla [TSLA]( DuPont [DD]( and Chart Industries [GTLS](. And Don't Miss: - [Best Undervalued Energy Stocks to Buy]( - [Going Into Earnings, Is Apple Stock a Buy, a Sell, or Fairly Valued?]( - [10 Best Blue-Chip Stocks to Buy for the Long Term]( - [This Cheap Dividend Stock Is 40% Undervalued and Yields Nearly 6%]( Did a friend forward this email? You can [sign up for free here](. ADVERTISEMENT [media]( [media] [This Cheap Dividend Stock Is 40% Undervalued and Yields Nearly 6%]( [This Cheap Dividend Stock Is 40% Undervalued and Yields Nearly 6%]( The narrow-moat stock is attractively priced for patient, long-term investors. Jaime Katz [Get Stock Pick]( Share: [facebook]( [twitter]( [linkedin]( [Best Energy Stocks to Buy ]( [Best Energy Stocks to Buy]( These 7 undervalued energy stocks look attractive today. Sbidag Demerjian [10 Best Blue-Chip Stocks to Buy for the Long Term]( [10 Best Blue-Chip Stocks to Buy for the Long Term]( The stocks of these high-quality companies with large market capitalizations look undervalued today. Margaret Giles [Stocks Hit Record Highs, Erasing Bear-Market Losses]( [Stocks Hit Record Highs, Erasing Bear-Market Losses]( Investors can thank a dovish Fed and the ‘Magnificent Seven.’ Sarah Hansen [3 Top Growth Stocks to Buy and Hold for 2024]( [3 Top Growth Stocks to Buy and Hold for 2024]( The long-term outlooks for these high-quality companies are solid—and their stocks are cheap. Susan Dziubinski [Going Into Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?]( [Going Into Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?]( We’ll be watching growth in Azure and commercial bookings Dan Romanoff [Going Into Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?]( [Going Into Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?]( With expected accelerated revenue growth in YouTube, here’s what we think of Alphabet’s stock. Ali Mogharabi [Going Into Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?]( [Going Into Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?]( With a focus on AWS growth and the advertising outlook, here’s what we think of Amazon’s stock. Dan Romanoff [Going Into Earnings, Is Apple Stock a Buy, a Sell, or Fairly Valued?]( [Going Into Earnings, Is Apple Stock a Buy, a Sell, or Fairly Valued?]( With the release of the new iPhone, here’s what we think of Apple’s stock William Kerwin [Going Into Earnings, Is Meta Stock a Buy, a Sell, or Fairly Valued?]( [Going Into Earnings, Is Meta Stock a Buy, a Sell, or Fairly Valued?]( After a big 2023 rally in Meta stock, here’s what we think of the company’s outlook. Ali Mogharabi [Could Company 401(k)s Go the Way of IBM?]( [Could Company 401(k)s Go the Way of IBM?]( Also, the potential hit on Boeing’s stock value in the wake of its safety troubles. John Rekenthaler, Nicolas Owens, Ivanna Hampton [Why Is Everyone Always Wrong About the Fed?]( [Why Is Everyone Always Wrong About the Fed?]( Traders—and the Fed itself—are notoriously bad at predicting interest rate moves. Will expectations of rate cuts in 2024 be any different? Sarah Hansen [Has the Economy Already Landed?]( [Has the Economy Already Landed?]( Thursday’s Q4 GDP report could show whether the soft landing investors are looking for has already come. Sarah Hansen [After Earnings, Is Charles Schwab Stock a Buy, a Sell, or Fairly Valued?]( [After Earnings, Is Charles Schwab Stock a Buy, a Sell, or Fairly Valued?]( With lower interest rates but a dip in revenues, here’s what we think of Schwab’s stock. Michael Wong [Polluting Firms Earn Higher Returns]( [Polluting Firms Earn Higher Returns]( But these low-scoring ESG stocks carry greater risks. Larry Swedroe Listen Now Get the latest investing insights and market updates with [Morningstar’s podcasts]( available on your iPhone, iPad, Android, PC, or smart speaker. Thanks for reading! Stay connected: [twitter]( [facebook]( [linkedin]( [instagram]( [YouTube]( [Apple News]( [View online]( | [See all newsletters]( | [Share your feedback]( [Unsubscribe]( from this newsletter. Or update your [email preferences](. © 2024 Morningstar, Inc. All Rights Reserved. 22 W. Washington St. Chicago, IL 60602