Wall Street is digesting a rate hike skip and the latest forward guidance from the Federal Reserve. The central bank left interest rates unchanged on Wednesday but suggested one more rate hike could come before the end of the year and would conclude the current cycle . The Fed added less rate cuts than previously expected in 2024 could follow. The central bank’s effort to tame inflation has been a cornerstone of investor sentiment for much of 2023 and could suggest where stocks head for the rest of the year. The Federal Reserve is seemingly signaling higher-for-longer interest rates going forward. Some equities were trading near 52-week highs before the Fed decision and could ride the rate skip news higher. CNBC screened market data using the new CNBC Pro Stock Screener tool to find stocks trading near their respective 52-week high that meet the following criteria: Shares are trading within 5% of a new 52-week high S & P 500 stock Average analyst rating of buy Average analyst consensus forecasts a rally of 10% or more Biotechnology stock Boston Scientific is trading less than 4% away from a fresh 52-week high, with shares closing at $53.03 on Tuesday. Boston Scientific’s previous 52-week high stood at $54.99 . BSX YTD mountain Boston Scientific stock. Boston Scientific stock has climbed nearly 15% from the start of the year, and more than 31% over the past 52 weeks alone. Consensus analyst forecasts suggest a 13.8% rally to the stock. Meanwhile, credit card giant Mastercard is well within striking range of a new 52-week high, with shares only 1.21% away from the benchmark. MA YTD mountain Mastercard stock has added nearly 19% from the start of the year. Mastercard’s previous 52-week high was $418.60 , and shares closed at $413.53 on Tuesday. Consensus forecasts call for a 10.1% climb for Mastercard stock. Shares of limited liability company Arch Capital need a 4.3% jump to clinch a new 52-week high and surpass the previous $84.83 level . Arch Capital stock closed at $81.20 on Tuesday. Consensus analyst estimates forecast a 10.4% rally to Arch Capital stock. ACGL YTD mountain Arch Capital Group stock has added more than 29% from the start of the year.
U.S. Federal Reserve Board Chair Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the headquarters of the Federal Reserve in Washington, D.C., on June 14, 2023.
Drew Angerer | Getty Images News | Getty Images
Stocks set to breakout on a market-friendly Fed decision
Symbol
Company
% from 52-Wk High
Analyst Consensus
Price Target + / –
ACGL
Arch Capital Group Ltd
-4.28
Buy
10.46
AIG
American International Group Inc
-3.88
Buy
13.73
APH
Amphenol Corp
-4.42
Buy
10.56
BG
Bunge Ltd
-3.19
Buy
20.89
BKR
Baker Hughes Co
-3.71
Buy
11.47
BSX
Boston Scientific Corp
-3.56
Buy
13.88
CDNS
Cadence Design Systems Inc
-4.67
Buy
11.39
EG
Everest Group Ltd
-1.61
Buy
11.16
EMR
Emerson Electric Co
-1.79
Buy
10.16
HAL
Halliburton Co
-4.58
Buy
14.46
ICE
Intercontinental Exchange Inc
-2.79
Buy
16.91
J
Jacobs Solutions Inc
-3.85
Buy
16.14
MA
Mastercard Inc
-1.21
Buy
10.13
MCK
Mckesson Corp
-2.02
Buy
10.80
PCG
PG&E Corp
-4.29
Buy
11.77
RSG
Republic Services Inc
-4.72
Buy
11.06
STZ
Constellation Brands Inc
-4.99
Buy
11.42
TRGP
Targa Resources Corp
-3.08
Buy
19.31
V
Visa Inc
-2.60
Buy
14.41
Source: S&P 500
Boston Scientific stock.
Boston Scientific stock has climbed nearly 15% from the start of the year, and more than 31% over the past 52 weeks alone. Consensus analyst forecasts suggest a 13.8% rally to the stock.
Meanwhile, credit card giant Mastercard is well within striking range of a new 52-week high, with shares only 1.21% away from the benchmark.
Mastercard stock has added nearly 19% from the start of the year.
Arch Capital Group stock has added more than 29% from the start of the year.