7 Hot Stocks That Could Fly if the Fed Goes Dovish in 2024

Core Viewpoint - The Federal Reserve's anticipated shift to a dovish monetary policy is expected to influence stock performance positively, encouraging consumer spending and investment [1][2]. Group 1: Stocks to Watch Post-Fed Decisions - Allstate (ALL) may benefit from lower interest rates, as existing bonds in its portfolio would appreciate in value, making it a stock to consider [3][4]. - Enphase Energy (ENPH) could see renewed interest if interest rates are cut, as lower borrowing costs would alleviate financial pressures on consumers and businesses, potentially boosting demand for solar energy solutions [5][6]. - PayPal (PYPL) might gain from a dovish Fed stance, as anticipated rate cuts could stimulate consumer spending and enhance demand for its buy now, pay later services [7][8]. - Nike (NKE) has shown resilience despite disappointing revenue, and if the Fed cuts rates, it could benefit from increased consumer spending due to its strong pricing power [9][10]. - AutoNation (AN) could see a positive impact from a shift in monetary policy, as lower rates may encourage consumers to purchase new vehicles rather than hold onto older ones [11][12]. - ChargePoint (CHPT) remains relevant in the electric vehicle charging infrastructure space, and a dovish Fed could increase demand for public charging solutions as EV adoption grows [13][14]. - Canaan (CAN), a blockchain mining equipment manufacturer, could benefit from aggressive rate cuts, as this may boost interest in cryptocurrencies and speculative investments [15][16][17].