Marvell Technology (MRVL) and Eli Lilly (LLY) are the top AI stock and pharmaceutical giant, respectively, leading this weekend's watch list of five stocks near buy points as the S&P 500 bull market revs back up. MRVL stock, known for its surging AI chip business, and LLY stock, fueled by prospects for its Alzheimer's treatment and weight-loss drugs, are joined by cruise line Carnival (CCL), construction equipment supplier United Rentals (URI), and aerospace contractor TransDigm (TDG). The S&P 500 finished the week strong, reaching a 15-month closing high and just 4. 5% off its record close on Jan. 3, 2022. Federal Reserve chair Jerome Powell's recent comments, indicating a possible halt in interest rate hikes if inflation remains benign, contributed to the renewed momentum. Stay updated with the market direction and its impact on your trading decisions by reading IBD's The Big Picture daily. Marvell, known for its chips used in various industries, expects its AI chip business to grow significantly in the coming years. Jefferies analyst Mark Lipacis sees positive signs for Marvell and other AI-chipmakers following comments from Microsoft and Google-parent Alphabet.

KeyBanc raised its price target for MRVL stock, highlighting design wins from Amazon and Google. Eli Lilly is experiencing an optimistic trend due to positive developments in its Alzheimer's and diabetes treatments. Leering Partners analyst David Risinger predicts FDA approval for Eli Lilly's donanemab Alzheimer's treatment by year-end 2023. Carnival and United Rentals also show promising performance, with Carnival reporting better-than-expected Q2 results and United Rentals bouncing back after an initial selloff following its Q2 earnings release. TransDigm Group, known for producing engineered components and systems for aircraft, is attracting attention with its unique products and growth prospects in the aerospace industry. Citi analyst Jason Gursky started coverage on TDG stock with a buy rating and a positive price target. The market rally has shown strength throughout the week, with Apple and Tesla among the notable stocks contributing to the solid weekly gains.