Wall Street kicked off the last week of trading for 2021 with a pretty decent start to that Santa Claus rally, with more gains ahead for Tuesday, by the looks of it.
And using a simple P/E ratio for the valuation measure, shows a rotation into “attractive valuation names” is clearly already under way, he said. “Cheap stocks saw very little inflow this year until recently. We believe this rotation will continue into 2022.” Energy. MKM has a equal-weight ranking on the sector, but sees plenty of upside in 2022. Halliburton HAL, -0.73%, Chevron CVX, -0.25%, Exxon Mobil XOM, -0.42%, Devon Energy DVN, -0.83%, Pioneer Natural PXD, -1.20% and Murphy Oil MUR, -1.74% are among a big list of stocks.
Technology: While the sector is generally expensive, there are plenty of bargains, especially within chip and communications equipment makers, said MKM’s O’Hare. Among the stock picks were Lumentum LITE, -1.54%, F5 FFIV, -0.32%, Arrow Electronic ARW, +0.21%, Applied Material AMAT, -2.02%, Broadcom AVGO, -0.39%, Qualcomm QCOM, -1.41%, Micron Tech MU, -2.11%, Diodes DIOD, -1.46% and NetApp NTAP, -0.43%.
The buzz The Centers for Disease Control and Prevention has shortened its recommended COVID-19 isolation time to five days, from 10, if you are symptom-free. That’s as global cases hit a record on Monday of 1.44 million. Some good omicron news? Catching that coronavirus variant could mean enhanced immunity against the delta one, according to a study from South Africa.
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