Investors are on edge after U.S. stocks fell for three consecutive weeks , signaling the possibility of higher interest rates for longer than expected. The yield on the 6-month and 1-year Treasury bonds closed at 5% on Friday, thanks to several economic data releases last week that pointed toward a strong U.S. economy. A rise in bond yields leads to increased borrowing costs for companies, which adds downward pressure on stocks.
" The bank describes the list as "cyclical laggards with low valuations and strong balance sheets" on the Russell 3000 . Goldman's picks include Tesla ; Garmin , the GPS technology company; Mohawk Industries , a global flooring manufacturer; and TopBuild , a supplier of insulation and building material. Goldman Sachs analysts expect an earnings-per-share growth of 5% for Tesla and 7% for Garmin over the next 12 months, compared to a 1% growth for the S & P 500.
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Source: CNBC - 🏆 12. / 72 Read more »
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