For Immediate Release
Chicago, IL – August 28, 2020 - Stocks in this week’s article are Sirius International Insurance Group Ltd. SGC, Mr. Cooper Group Inc. COOP, Daqo New Energy Corp. DQ, Azure Power Global Ltd. AZRE and Griffon Corp. GFF.
5 Stocks with Recent Price Strength to Enhance Your Returns
Wall Street is enjoying a dream run for nearly five months. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — rallied significantly in the last four months. Wall Street historically remains muted in August. But this year, markets are continuing their northbound journey, defying coronavirus-led woes.
Then again, the market is yet to fully recover year to date from the pandemic-led devastations. The Nasdaq Composite is flying high and the S&P 500 recently recorded a fresh all-time high erasing coronavirus-induced losses. However, the Dow is still in negative territory and way behind its all-time high recorded on Feb 12.
The market's worst appears behind us as negative estimates are already factored in valuations. Although coronavirus-induced woes are persisting in the United States, causing occasional market fluctuations, the overall movement of Wall Street is likely to remain northbound.
Meanwhile, second-quarter 2020 earnings results have not come in as bad as expected at the start of the reporting cycle. Moreover, systematic reopening of the U.S. economy after nearly two months of lockdowns helped in reviving aggregate demand.
This is evident from a series of better-than-expected economic data from April to August. Although second-quarter U.S. GDP plunged 32.9%, it was better than the consensus estimate of a 34.7% decline.
At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?
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DAQO New Energy Corp. (DQ) : Free Stock Analysis Report
Superior Uniform Group, Inc. (SGC) : Free Stock Analysis Report
Azure Power Global Ltd. (AZRE) : Free Stock Analysis Report
Griffon Corporation (GFF) : Free Stock Analysis Report
MR. COOPER GROUP INC (COOP) : Free Stock Analysis Report
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