BTIG says S&P 500 will be stuck in a range, but thinks these stocks can outperform

📆 7/23/2024 9:32 AM
📰 CNBC

⏱ Reading Time:
23 sec. here
13 min. at publisher
📊 Quality Score:
News: 51%
Publisher: 72%

Breaking News: Investing News

Wall Street,Business,Markets

Jonathan Krinsky, chief market technician at BTIG, said the broader index's recent choppy moves are likely to continue.

The S & P 500 may be due for a pullback, but some individual names could be relative outperformers, according to BTIG. Wall Street has been in for a bumpy ride as of late. Last week, the S & P 500 dropped nearly 2% in its worst week since April, as investors rotated out of megacap tech leaders and into smaller names. On Monday, however, the benchmark experienced its best day in more than a month thanks to a tech rebound.

SPX 1M mountain S & P 500 in past month What to buy Against this backdrop, the strategist identified 12 stocks that can see relative outperformance during this choppy period — regardless of how the broad market index fares. "These are names that are in good uptrends, and very close to their 52-week highs," Krinsky wrote. "Whether or not the market correction has further to go, these names should outperform over coming months.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer reviews 10 stocks leading the S&P 500 in the second quarterCNBC’s Jim Cramer on Friday analyzed the top ten performers in the S&P 500 over the last quarter.
Source: NBCLA - 🏆 319. / 59 Read more »