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3 Highly-Ranked Large Cap Stocks to Buy Now

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On today’s episode of Full Court Finance at Zacks, we look at why the market jumped to new record highs. We then explore three large-cap Zacks Rank #1 (Strong Buy) stocks that investors might want to buy right now that don’t have to count on Pfizer’s vaccine progress.

Stocks posted their best week since April last week. The S&P 500, the Dow, and the Nasdaq all then surged to brand new record highs on Monday after Pfizer (PFE - Free Report) and its partner BioNTech announced that their Covid-19 vaccine candidate is more than 90% effective in preventing infections.

Clearly, there are still unknowns and more hurdles to climb. Nonetheless, the news helped send social distancing stocks within travel and hospitality, such as Royal Caribbean Cruises (RCL - Free Report) , soaring. This progress, along with the improving earnings picture, as well as Wall Street’s positive response to the prospects of divided government, could set up more bullish sentiment.

Despite the positive news, we take a look at three highly-ranked large cap stocks that are poised to grow and won’t need a vaccine to do so. We start with resurgent FedEx (FDX - Free Report) , which posted blowout quarterly results in mid-September that highlighted its ability to thrive during the e-commerce age.

Next up is Nike (NKE - Free Report) . The company remains on top of a fickle industry despite the growth of Lululemon (LULU - Free Report) and a resurgent Adidas (ADDYY - Free Report) because of its ability to create trends and attach its brand to the biggest sports, athletes, and cultural icons in the world. The sportswear giant is also ready to thrive in the Amazon (AMZN - Free Report) age, as showcased by its digital sales growth the last two quarters.

Lastly, we dive into The Boston Beer Company (SAM - Free Report) . The stock has skyrocketed over the last year because it is at the forefront of the booming hard seltzer space that has all of the alcoholic beverage giants, and even the likes of Coca-Cola (KO - Free Report) , are trying to grab their share of the quickly growing pie.

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