For Immediate Release
Chicago, IL – October 19, 2020 - Stocks in this week’s article are
Daqo New Energy Corp. ( DQ Quick Quote DQ - Free Report) , Surface Oncology Inc. ( SURF Quick Quote SURF - Free Report) , Covenant Logistics Group Inc. ( CVLG Quick Quote CVLG - Free Report) , Herc Holdings Inc. ( HRI Quick Quote HRI - Free Report) and Castle Biosciences Inc. ( CSTL Quick Quote CSTL - Free Report) . 5 Stocks with Recent Price Strength to Maximize Your Gains
After the turmoil in September, Wall Street has recovered some of the lost ground so far in October. However, we are not out of the woods. Three major factors are present that can flare up market volatility anytime.
First, the U.S. Congress is yet to reach an amicable solution regarding the size and scope of the second round of the coronavirus-aid package. The Democrats have settled for a $2.2 trillion stimulus while the White House has approved only $1.8 trillion. It is not clear whether a deal will arrive before the U.S. presidential election scheduled on Nov 3.
Second, it seems a remote possibility that a vaccine or a proper line of treatment for COVID-19 will appear this year. This week the FDA has paused late-stage clinical trials of two drugs for the potential treatment of coronavirus on safety concerns.
Meanwhile, several states and regions in the United States and major Eurozone countries have recently witnessed another spike in COVID-19 infections as these economies are trying to return to normalcy.
Third, the U.S. presidential election is less than three weeks away. Historically, stock markets have remained volatile in the month before the election. Market participants generally choose to hold cash instead of investing in risky assets like equities while assessing the economic and financial consequences of the election result.
At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/625382/5-stocks-with-recent-price-strength-to-maximize-your-gains Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. About Screen of the Week
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