Health Care and Energy sector stocks continue to look strong while oil stocks are a great way to hedge against inflation. There’s also been talk of oil prices hitting the $100 level. Investors should trade pullbacks when markets are overbought. I’ve identified three stocks in the Health Care and Energy sectors doing just that — and more in today’s stock market recap.
In the stock market recap, global stocks are mostly higher after President Joe Biden’s infrastructure plan announcement.
The S&P 500 and Nasdaq closed at record levels on Thursday. The market looks to be bullish on the outside, but is showing weak support from momentum levels on the inside. Keep your eye on the put/call ratio as it’s dropped below a key level, which tends to signify a stock reversal. We could see stocks experience a healthy pullback, considering a combination of these market factors.
The Personal Income and Outlays report is the day’s biggest data drop. Personal income decreased 2% in May. The figure fell within the expected, wide range of -4.3% to 5.6%. Personal income measures the income a household receives from all income sources.
Health care stocks don’t have a high correlation with fluctuating interest rates. And Progyny Inc. (Nasdaq: PGNY) is a fertility benefits management company in the Russell 2000.
PGNY has pulled back to its 50-day moving average after making a swing high. It has a one-year return of 129.85%.
I’ve identified another health care stock in a pullback with a one-year return of 493.88%! The third stock is an oil company with a one-year return of 65.13%. It should if oil prices experience a price hike.
In today’s video, you’ll discover whether bonds will continue to rise or move back into their trading range… if the Nasdaq 100 will continue to rise or pull back… what the put/call ratio is telling us about the broader market… and the top sector and stocks to buy right now.
Just because the market is an unpredictable mess doesn’t mean investors’ financial situation also has to be…
That’s why master trader Jeff Zananiri is sharing a strategy that works in all market conditions.
He relies on a little-known anomaly that could help traders see incredible results with a more systematic approach.
There’s never been a better time to implement Jeff’s strategy. With interest rates set to increase sometime this year or early next, we will continue to see choppiness.
Jeff’s strategy allows traders to use “money links” to hedge against surprise pullbacks — and even make money off of them!
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.