Now isn’t the time to be a hero with large-cap Tech, small-cap or Consumer Discretionary stocks. I’ve identified three names in the Industrial and basic Materials sectors with recent pullbacks — and more in today’s stock market recap.
Today’s three stocks are poised to benefit from President Joe Biden’s infrastructure plan….
Global markets are mostly higher this morning as Wall Street opened slightly up.
The S&P 500 continues to be overbought but bounced from its 50-day moving average. This move is due to the basic Materials, Financials and Industrials sectors leading the market right now.
I’m skeptical of the Nasdaq’s recent momentum levels. Analysts have high expectations for large-cap Tech earnings, and investors always like flight to quality. Any negative earnings numbers will add to the Nasdaq’s choppiness. Inflation also has the potential to negatively impact the Nasdaq… And we are expecting more toward the end of the year.
The Russell 2000 has outperformed the S&P 500 by about 30% in the last year, and has been moving sideways for a few months. I see the Russell 2000’s movement as a consolidation that may lead to more horizontal movement in a bull market. Remember what I always say, stocks move in two directions — horizontal and vertical.
United States Steel Corp. (NYSE: X) is headquartered in Pennsylvania. It’s involved in the production and sale of flat-rolled and tubular steel products.
U.S. Steel recently pulled back from a swing high and is looking to extend its one-year return of 267.64%.
I’ve also identified an infrastructure technology company on a four-month climb that’s recently pulled back. I also have a chemical producer and leading U.S. manufacturer of ammunition with a one-year return of 323.69%!
In today’s video, I’ll go over which index is ripe for potential gains… which ones are lagging behind… which sectors to stay away from… which sectors to jump in on… and the top mid-cap stocks I’m targeting right now.
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But everyone’s probably wondering how they can do this in such a choppy market…
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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.