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2 Cheap Growth Stocks to Snatch Up Now By StockNews


© Reuters. 2 Cheap Growth Stocks to Snatch Up Now

Growth stocks are gaining momentum amid bullish market sentiment and the Fed’s signal that it will keep supporting the economy for now. Our view is that the continued low-interest rate environment and economic recovery will drive growth stocks AstraZeneca, Gates Industrial Corporation and Gates Industrial Corporation to large price gains over the next few months. Keep reading. On Thursday, the main stock indexes ended sharply higher for the second consecutive day after rebounding from an earlier selloff. The bullishness suggests that investor fears surrounding the uptick in weekly jobless claims and Chinese real estate giant Evergrande’s debt crisis have subsided. On Wednesday, the Fed gave the market a boost by not withdrawing support immediately.

The Fed indicated that interest rates would rise in 2022 but the current interest rate environment is unchanged. The continued economic recovery and availability of low-interest money should be good for growth stocks.

Therefore, we think it could be wise to bet on cheap stocks AstraZeneca Plc (AZN) and Gates Industrial Corporation plc (GTES), which possess strong growth attributes. These stocks are rated ‘Strong Buy’ in our proprietary POWR Ratings system.

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