Stocks are once again at record high levels — with the S&P 500 now up over 21% on a one-year basis. That’s following Fed Chair Jerome Powell’s more-relaxed inflation targeting strategy, impressive second quarter earnings and encouraging US-China trade talk progress.
And while there are now a staggering 24 million cases of coronavirus worldwide, the approval of Abbott’s 15-minute Covid-19 test does provide further reopening optimism.
However the knock-on effect is that upside potential is looking increasingly limited. How much further can the rally take us? To find stocks poised to outperform, it’s worth focusing on those companies that can deliver strong growth in expanding markets. Here we look at six stocks that do just that — and what’s more, all these stocks have received bullish calls from the Street’s top analysts over the last week. In fact, three of these stocks have just received a new Street-high price target. Read more…..
Chart of the Day
Federal Reserve Chairman Jerome Powell is expected to unveil broadly the Fed’s new strategy on inflation as the central bank’s annual economic symposium, known as Jackson Hole, gets underway virtually today.