August is usually a quiet time for the stock market. This year, however, we have a different situation. Supply chain bottlenecks, rising COVID-19 cases, employment and inflation worries are all pulling at the market. Considering large caps are set to pull back, I’ve picked out three mid caps with low-risk profit opportunities — and more in today’s stock market recap.
Stock Market Recap
In today’s stock market recap, global stocks are mostly flat as investors digest negative employment data.
July’s job creation in the private sector was reported by the ADP Research Institute at less than half of what was expected. Employers added 330,000 jobs compared to analyst expectations of 680,000. We’ll get a more complete jobs report on Friday from the U.S. Department of Labor.
The market is choppy and trading without directional bias. Only 143 stocks are making 90-day highs while 102 stocks are making 90-day lows. Large caps continue to outperform all other stocks in the market.
China has implemented strong containment measures due to rising COVID-19 cases. U.S. investors are keeping an eye on government restrictions around the world and wondering if we could see similar reactions to rising virus cases by our own government. China’s situation will also give us an idea of how much COVID-19 is affecting global supply chains.
Roger’s Radar: 2 REITs and 1 Stock Ruling Mid Caps
Ameresco Inc. (NYSE: AMRC) is an energy efficiency solutions provider. We could see AMRC benefit from President Joe Biden’s infrastructure focus. The stock has a one-year return of 100.94% and a five-year return of 1,160.37%! AMRC has pulled back to its 50-day moving average and could bounce back to continue its three-month upward trend.
One of the REITs has been trading publicly for almost 60 years and has extensive commercial real estate experience. With the fall semester ready to start, the second REIT has promising upside potential as it provides student housing solutions.
In this video, you’ll learn whether bonds are topping out… whether the market is set to trend higher or chop… which sectors to avoid right now… an update on Federal Reserve data that’s dominating markets… and three trade ideas to help you gain an edge in today’s market climate.
Most folks don’t know this… but Wall Street runs on a secret calendar.
It trades some of the same stocks on the same date every year!
Thanks to this calendar, it doesn’t matter if a stock has been struggling or if market conditions are terrible… When the dates roll around, these stocks generally go up!
All a trader needs to know is when these stocks will skyrocket… and they have the potential to unlock consistent winners all year long.
Legendary trader Tom Busby’s proprietary dashboard alerts him when a stock’s “prime window” is approaching… and he wants to give everyday traders access to it!
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.