3 Stocks That Could Bounce Back in the Fourth Quarter By StockNews
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Many experts believe that stocks will make new highs despite the Fed cutting back on asset purchases. Thus, fundamentally sound stocks Smith & Nephew (SNN), DaVita (NYSE:), and Orthofix Medical (NASDAQ:) could witness a rebound in the near term.The three major stock market indexes witnessed a broad rally during Tuesday’s regular session. After a September downturn, investors may be optimistic about the improved manufacturing data and the strong business sentiment. Although the market could continue to be volatile in October amid worries surrounding the Fed’s potential tapering of its bond-buying program in the near term, analysts expect the concluding quarter of the year to be favorable for stocks.
CFRA chief investment strategist Sam Stovall believes that while October had previously witnessed higher volatility as compared to the averages of the other 11 months, this year, the fourth quarter is likely to record a “higher-than-average return.” Moreover, the upcoming earnings season could be a positive catalyst for the stock market, with expected earnings growth and surprises boosting investor sentiment.
Amid this environment, fundamentally strong stocks Smith & Nephew plc (SNN), DaVita Inc . Orthofix Medical Inc. OFIX and DVA, which both have seen their stock prices drop over the past month are in a good position to recover their momentum quickly. These stocks are solid investments now.
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