Three stocks are on my radar today. The first is a cyclical name that will benefit from this summer’s coming travel boom. The second play is on an electronic parts distributor for industrial and commercial companies. The third is one you’ve heard me mention before — and more in today’s stock market recap.
In today’s stock market recap, global markets are mixed after emerging flat from Memorial Day weekend.
Japan ramped up vaccination efforts by opening up availability to the general population and establishing mass inoculation sites. Although this is good news, it may be too little too late ahead of the Tokyo Olympics.
Worries of central banks withdrawing stimulus to combat high inflation continues as people hope for a strong report from the Department of Labor on Friday. This past month’s jobs report missed consensus, showing us that many Americans aren’t looking for jobs and are instead relying on stimulus aid. There has to be a balance between inflation and employment numbers. And the potential imbalance that Friday’s report might show is what investors are worried about right now.
Momentum levels are high in the S&P 500 as 90% of stocks are trading above their 50-day moving averages. The index is moving higher and is near all-time highs.
There’s an inverse relationship between the bond market and Consumer Staples. I expect these stocks could rise with inflationary fears as the bond market breaks down.
Hilton Grand Vacations Inc. (NYSE: HGV) is a division of Hilton Worldwide and operates resorts in the hospitality industry. It’s a Russell 2000 stock with a market cap of $4 billion.
HGV has a one-year return of 109.06%. We are in June and people are vacationing and travelling. This is a great cyclical stock that will benefit in the first summer out of the pandemic.
I’ve also identified a great stock that is showing strong upward momentum. It’s a global leader in the distribution of electronic and computer products to commercial customers. The third name on my list is a stock I’ve been talking about regularly for the past six months. In December, it was the leader on my cumulative strength index scanner. It’s in the top 3% today.
In today’s video, I’ll go over why trading is so limited this week… when volatility will increase again… what the market is waiting for right now… how Friday’s jobs data will impact the bond market… and the top stocks to own right now.
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