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Escalating trade disputes between the United States and Turkey have had investors worked up, dragging the broader S&P 500 down for the fourth straight session on Aug 13. After things took a graver turn between the nations on difference in opinion on the in Syria policy, Turkey’s lira was subject to a downward spiral and touched a record low on Aug 13.
But, lira gained some ground on Aug 14 after the country’s central bank pledged to provide liquidity, soothing investors. Moreover, time and again, the stock market has recouped after any currency crisis.
Lest we forget, higher household net worth, tight labor market and favorable government policy will provide the much needed windfall to the equity market. Hence, it is the ideal time to capitalize on this drop by betting on stocks that are poised to grow in the near term.
Turkey Shakes US
President Trump recently approved higher tariffs on imports from Turkey, levying a 20% duty on aluminum and 50% on steel. The White House and Ankara are at loggerheads for quite some time over a couple of issues, including the detention of American pastor Andrew Brunsonin Turkey and the Syrian civil war.
Trump’s approval on higher tariffs on imports from Turkey ripped the Turkish financial markets, sending lira into a freefall. The lira slipped, with one dollar buying 6.974 lira on Aug 13, compared with 6.427 lira on Aug 10. This, in turn, increased the risk of default on foreign-currency loans. Global banks, having substantial exposure to Turkey, have thus come under tremendous pressure.
By the way, lira has already lost 40% against the dollar this year. Such a ruthless crash has raised the cost of goods in Turkey. Turkey might slip into recession and debt crisis and in turn affect other economies. Turkey, eventually, will require a bailout from the International Monetary Fund.
Why Turkey Crisis is a Buying Opportunity
Turkey currency crisis, however, does provide a good buying opportunity for astute investors. And why not? Central banks from around the world will certainly make sure that there is plenty of liquidity to keep Turkey’s financial crisis at bay. And, invariably, so much liquidity will make its way into the equity markets.
Let’s recall what happened to Turkey’s arch rival Greece in late 2009. Despite the gloomy forecast that a Grexit would lead to the disintegration of the European Union and in the process affect the global equity markets, the S&P 500 now is several hundred percent higher. In fact, historically, the equity markets have always taken any currency or sovereign debt crisis very much in stride.
Turkish Lira Edges Up, Central Bank Steps In
Turkey’s central bank, in fact, has pledged to provide liquidity mostly to its banking sector. The central bank will provide more breathing space to banks by trimming foreign currency reserve requirements.
Investors are definitely taking some comfort from such news, with the lira rising 5% to 6.54 to the U.S. dollar on the morning of Aug 14, after tanking 20% in the past four trading sessions.
Top 5 S&P 500 Stocks to Buy Now
Banking on the strengths, the S&P 500 is positioned to make a comeback in the near term. Since the long term bodes well for stocks after the initial dip, it will be wise to invest in growth stocks. Moreover, by purchasing stocks right after a dip, investors are essentially buying shares at a discount.
With the help of our new Style Score System, we have short-listed Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks with a Growth Style Score of A or B that hold immense growth potential despite the recent slump. Our research shows that stocks with a Growth Style Score of A or B when combined with a Zacks Rank #2 offer the best investment opportunities in the growth investing space.
Agilent Technologies, Inc. (A - Free Report) provides application focused solutions to the life sciences, diagnostics, and applied chemical markets. The company has a Zacks Rank #2 and a Growth Score of B despite the 2.4% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 6.8% and 13.1%, respectively.
Advance Auto Parts, Inc. (AAP - Free Report) provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company has a Zacks Rank #2 and a Growth Score of A in spite of the 0.2% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are a respective 16.5% and 26.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bristol-Myers Squibb Company (BMY - Free Report) discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products. The company has a Zacks Rank #1 and a Growth Score of B despite the 0.8% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 18.7% and 19.3%, respectively.
Caterpillar Inc. (CAT - Free Report) manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. The company has a Zacks Rank #2 and a Growth Score of B despite the 3.1% drop in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 41.5% and 67.7%, respectively.
D.R. Horton, Inc. (DHI - Free Report) operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest and West America. The company has a Zacks Rank #2 and a Growth Score of A despite the 1.8% decline in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are a respective 52.4% and 41.6%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
5 Top-Ranked S&P 500 Stocks to Buy on Market Dip
Escalating trade disputes between the United States and Turkey have had investors worked up, dragging the broader S&P 500 down for the fourth straight session on Aug 13. After things took a graver turn between the nations on difference in opinion on the in Syria policy, Turkey’s lira was subject to a downward spiral and touched a record low on Aug 13.
But, lira gained some ground on Aug 14 after the country’s central bank pledged to provide liquidity, soothing investors. Moreover, time and again, the stock market has recouped after any currency crisis.
Lest we forget, higher household net worth, tight labor market and favorable government policy will provide the much needed windfall to the equity market. Hence, it is the ideal time to capitalize on this drop by betting on stocks that are poised to grow in the near term.
Turkey Shakes US
President Trump recently approved higher tariffs on imports from Turkey, levying a 20% duty on aluminum and 50% on steel. The White House and Ankara are at loggerheads for quite some time over a couple of issues, including the detention of American pastor Andrew Brunsonin Turkey and the Syrian civil war.
Trump’s approval on higher tariffs on imports from Turkey ripped the Turkish financial markets, sending lira into a freefall. The lira slipped, with one dollar buying 6.974 lira on Aug 13, compared with 6.427 lira on Aug 10. This, in turn, increased the risk of default on foreign-currency loans. Global banks, having substantial exposure to Turkey, have thus come under tremendous pressure.
By the way, lira has already lost 40% against the dollar this year. Such a ruthless crash has raised the cost of goods in Turkey. Turkey might slip into recession and debt crisis and in turn affect other economies. Turkey, eventually, will require a bailout from the International Monetary Fund.
Why Turkey Crisis is a Buying Opportunity
Turkey currency crisis, however, does provide a good buying opportunity for astute investors. And why not? Central banks from around the world will certainly make sure that there is plenty of liquidity to keep Turkey’s financial crisis at bay. And, invariably, so much liquidity will make its way into the equity markets.
Let’s recall what happened to Turkey’s arch rival Greece in late 2009. Despite the gloomy forecast that a Grexit would lead to the disintegration of the European Union and in the process affect the global equity markets, the S&P 500 now is several hundred percent higher. In fact, historically, the equity markets have always taken any currency or sovereign debt crisis very much in stride.
Turkish Lira Edges Up, Central Bank Steps In
Turkey’s central bank, in fact, has pledged to provide liquidity mostly to its banking sector. The central bank will provide more breathing space to banks by trimming foreign currency reserve requirements.
Investors are definitely taking some comfort from such news, with the lira rising 5% to 6.54 to the U.S. dollar on the morning of Aug 14, after tanking 20% in the past four trading sessions.
Top 5 S&P 500 Stocks to Buy Now
Banking on the strengths, the S&P 500 is positioned to make a comeback in the near term. Since the long term bodes well for stocks after the initial dip, it will be wise to invest in growth stocks. Moreover, by purchasing stocks right after a dip, investors are essentially buying shares at a discount.
With the help of our new Style Score System, we have short-listed Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks with a Growth Style Score of A or B that hold immense growth potential despite the recent slump. Our research shows that stocks with a Growth Style Score of A or B when combined with a Zacks Rank #2 offer the best investment opportunities in the growth investing space.
Agilent Technologies, Inc. (A - Free Report) provides application focused solutions to the life sciences, diagnostics, and applied chemical markets. The company has a Zacks Rank #2 and a Growth Score of B despite the 2.4% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 6.8% and 13.1%, respectively.
Advance Auto Parts, Inc. (AAP - Free Report) provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company has a Zacks Rank #2 and a Growth Score of A in spite of the 0.2% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are a respective 16.5% and 26.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bristol-Myers Squibb Company (BMY - Free Report) discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products. The company has a Zacks Rank #1 and a Growth Score of B despite the 0.8% fall in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 18.7% and 19.3%, respectively.
Caterpillar Inc. (CAT - Free Report) manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. The company has a Zacks Rank #2 and a Growth Score of B despite the 3.1% drop in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are 41.5% and 67.7%, respectively.
D.R. Horton, Inc. (DHI - Free Report) operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest and West America. The company has a Zacks Rank #2 and a Growth Score of A despite the 1.8% decline in the last four trading sessions. The stock’s expected earnings growth rate for the current quarter and year are a respective 52.4% and 41.6%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>