loader image

The Top Stocks for a Huge Week of Earnings, Economic Data

by | Jul 26, 2021 | Uncategorized

Investors should be careful and defensive in today’s market environment. We saw outdoor activities decrease, and indoor activities increase in 2020. Stay-at-home stocks emerged and fueled the market. I’ve identified four stocks positioned to gain if we start moving toward a similar situation because of the delta variant — and more in today’s stock market recap.

But first…

Stock Market Recap

Global markets are mostly lower as investors prepare for a heavy week of earnings and economic data.

The Federal Open Market Committee (FOMC) has a two-day meeting starting Tuesday, and a press conference on Wednesday. Investors are eager to learn of the impact of the recent COVID-19 spike on our economic recovery. New outbreaks have added to inflation fears and overshadowed positive corporate earnings this season. 

In order for the stock market to be in tune and find a rhythm, the sectors have to be in line with each other. On a one-month basis, a few of the top sectors are trading together. On a cumulative basis, however, the market is fragmented, which is an indication of a coming pullback.

Interest rates and COVID-19 are moving the markets right now. Economic data this week should give us a fresh outlook for economic recovery and identify new risks from the resurgence of COVID-19 in the U.S.

Roger’s Radar: Top Defensive Plays

Bristol-Myers Squibb Co. (NYSE: BMY) is one of the largest pharmaceutical companies in the world, and BMY is breaking out from a high top. Pharmaceutical companies are less sensitive to interest rates and are positioned to do well with another rise in COVID-19 cases.

Another stock on my radar is a huge provider of consumer staples and is directly involved in the COVID-19 battle. There’s also a promising biotech ETF breaking out right now. The last pick is an online payment company with the chance to soar in another stay-at-home environment.

In this video, you’ll discover whether the markets are fragmented and what that means for you… whether markets are still overbought or beginning to stabilize… which sector offers the best risk/reward opportunity right now… and the top sector and stocks to buy for safe and outsized gains. 

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

What to read next

99 Problems and a “Pivot” is One

99 Problems and a “Pivot” is One

A friend of mine sent me this chart about three months ago. I should probably print it and keep it in my wallet next to a photo of my daughter. Given the sheer number of questions I’ve fielded lately, I’ll probably end up showing this chart more than her picture.

read more
Everything Everywhere, Going Down, All At Once

Everything Everywhere, Going Down, All At Once

When our momentum reading went negative last week, I didn’t know that we’d have the second largest bank failure in U.S. history three days later. All I knew was that it went negative… and that we got out of the way.

read more
Trust But Verify…

Trust But Verify…

I want to talk about our version of “Trust but Verify” in the markets. Qualification is the most important part of the investing process. And this F score value strategy looks to be crushing the current market.

read more

Have any questions? Contact Our Customer Service Team