From Barchart: 2024-06-04 08:26:00

April 2024 has broken historical trends as the U.S. stock market sees success despite adages. Major indexes saw gains: Dow up 2.3%, S&P 500 up 4.8%, Nasdaq up 6.9%. April’s consumer price index rose 3.4% year over year. Corporate earnings were solid in Q1 2024 with S&P 500 companies up 6.8% in total earnings.

However, U.S. economic growth slowed in Q1 2024 to 1.3% GDP growth rate. April’s job data missed estimates, with 175,000 added jobs and an unemployment rate of 3.9%. PCE price index increased 2.7% year over year and core PCE inflation rose 2.8%, missing estimates. Retail sales in April remained flat.

Investors are advised to focus on momentum stocks for June. Five large-cap stocks with strong momentum potential have been identified. Companies like RB Global Inc., Nutanix Inc., monday.com Ltd., Coinbase Global Inc., and Datadog Inc. have positive earnings revisions and are rated as Zacks Rank #1 (Strong Buy) with an A Momentum Score.

Read more at Nasdaq: Top 5 Momentum Stocks for June After an Impressive May