Investors encouraged to buy growth stocks now, market expected to perform well

From Nasdaq: 2024-05-13 08:08:00

Investors are wary of the “sell in May and go away” mantra as summer traditionally sees weaker stock market performance. Despite this trend, stock market indexes have been trading positively in May. With an election year ahead, the market is expected to perform better leading up to the election.

The Dow Jones, S&P 500, and Nasdaq Composite are on an upward trajectory, nearing milestone marks. The stock market is poised for growth due to the Federal Reserve’s stance on interest rate hikes. Expectations of interest rate cuts may boost consumer spending and market performance.

Investors should consider growth stocks like Agnico Eagle Mines, Abercrombie & Fitch, Amazon, Alphabet, and Hess Corporation for solid returns. These stocks have strong growth prospects and favorable rankings, making them attractive investment options for the current market conditions.

Presidential election years historically favor market growth. Zacks’ free special report outlines five stocks for investors to consider in anticipation of the 2024 election results. Companies in various sectors offer potential for significant returns amidst electoral excitement. Download the report for timely stock recommendations.



Read more at Nasdaq: Why “Sell in May?” Instead, Buy These 5 Growth Stocks Now