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3 Strong Stocks to Buy for the Fourth Quarter and Beyond

Benjamin Rains
·3 mins read

Zacks Stocks In The News · 3 Strong Stocks to Buy for the Fourth Quarter and Beyond

On today’s episode of Full Court Finance at Zacks, Ben Rains discusses the market and what could be next amid increased volatility heading into the election. The episode then dives into three highly-ranked stocks that longer-term investors might want to consider buying as we enter the fourth quarter.

Stocks jumped through late afternoon trading on Monday, as part of a nice run over the last several sessions. The moves come as part of heightened volatility, which traders are betting continues beyond the November 3 election. Meanwhile, investors have grown impatient about the lack of progress on the stimulus front and might be nervous about rising coronavirus rates in Europe and elsewhere.

That said, the political will for a second round of lockdowns likely isn’t there and there are signs of continued economic recovery. This is reflected in the third quarter picture and beyond (also read: Handicapping the Q3 Earnings Season).

Investors should also remember that market corrections are common and healthy. And if we look back to how things were after the brutal selloff in February and March, it seems likely that many would have gladly taken where the market is now. In fact, the S&P 500 currently rests just over 6% off its early September records, as it races back up to its 50-day moving average.

On top of all of this, the Fed plans to keep its interest rates near zero through at least 2023. This means that Wall Street will be hunting for returns. Therefore, investors with a longer-term horizon might want to buy stocks despite the near-term uncertainty.

The first of the three Zacks Rank #1 (Strong Buy) stocks we dive into is FedEx FDX. The firm posted blowout quarterly results on September 15 that highlighted its ability to thrive during the e-commerce age.

We then take a look at coronavirus standout Zoom Video ZM that appears ready to grow for years. The video conferencing firm has outshined the likes of Amazon AMZN, Apple AAPL and others in 2020 and it’s already trading at new highs after bouncing back from its early September decline.

The last stock we look at is Nike NKE. The sportswear giant’s e-commerce results wowed Wall Street last week and it’s ready to stand tall against newcomer Lululemon LULU and a resurgent Adidas ADDYY for a variety of reasons.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>

Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Adidas AG (ADDYY) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research