The first half of 2024 has been anything but dull for investors. The S&P 500 index rose by more than 15 per cent, markets were battling rising inflation and a high interest rate environment, and the AI revolution sparked a run in many stocks with exposure to chip manufacturing and information technology hardware and services. Companies such as Nvidia Corp. and Super Micro Computers Inc.
First, we screen for U.S.-listed consumer discretionary companies with a market capitalization greater than US$1-billion. Next, we screen for companies that have demonstrated strong price momentum. The Starmine Price Momentum model includes a blend of short, mid-, long-term, and industry-specific components, and recognizes the tendency of long-term trends to revert to their long-term mean. Higher scores indicate stocks with the strongest price momentum. We screen for companies with a score greater than 95, with 100 being the highest score, representing companies in the top 5 per cent for price momentum.
Finally, we screen for companies with a one-month positive price return to focus on companies with strong recent price performance.The London Stock Exchange Group , is one of the world’s largest providers of financial market data and infrastructure, serving more than 40,000 institutions worldwide.