5 Stocks With Recent Price Strength to Tap Wall Street Rally
The fundamentals of the U.S. economy remain rock solid with GDP growing at 1.6%, 3% and 2.8%, respectively, in the first three quarters of 2024. On Dec 9, the Atlanta Fed GDPNow projected the GDP growth rate for the fourth quarter at 3.3%. This clearly indicates no signs of softness.
The Fed will conduct its last FOMC meeting for 2024 from Dec 17-18. Market participants are highly hopeful of another round of reduction in the benchmark lending rate. The Fed reduced the market interest rate by 75 basis points in September and November to a range of 4.5-4.75%.
Consequently, a few stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the…
