The six-month average return for the top Nasdaq and S&P 500 stocks is around 50%. If we take a look at the top five Russell 2000 stocks, we see returns of 610%, 473%, 311%, 200% and 190%. Small-cap leaders tend to outperform those from other indexes. And I’ve identified two small-cap stocks with breakout potential — and more in today’s stock market recap.
In the stock market recap, global stocks are mixed today as U.S. names remain neutral ahead of Friday’s jobs data.
The bond market was down on Wednesday night. It looks like it’s cooling off and moving toward its 50-day moving average. Interest rates may start rising toward the end of August. Until then, we could see the bond market remain relatively flat.
The PMI Manufacturing Final gives us a snapshot of how manufacturing is doing. The ISM Manufacturing Index is a monthly survey of 300 firms. The Institute for Supply Management reported a reading of 60.6 for June, compared to May’s figure of 61.2. A reading above 50 means manufacturing is expanding.
The cumulative strength index for the S&P 500 has spread out to include more sectors. Transportation, Materials, Financials, Energy and Consumer Staples sector stocks are all leaders in the CSI scan.
Evoqua Water Technologies Corp. (NYSE: AQUA) provides systems, technologies and services for full water lifecycles. AQUA has a one-year return of 81.61%. Utilities are getting more expensive and more people are going to companies like AQUA for value. The stock could hit the $40 level in the next quarter. It’s currently trading around $33.
The second stock I’ve identified for today is a footwear retailer of many well-known brands. It has a one-year return of 227% and a market cap of only $1 billion. The stock is hot and could go to the $32 level. It is currently trading at $27.
In today’s video, you’ll discover which sector is most likely to rise… which sector is prone to fall… which index will give you the biggest opportunities for upside right now… which sector I’m turning bearish on… and which stocks I’m targeting and why.
The stock market is vulnerable right now, folks. There are indicators signaling a coming cooldown.
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Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.