This week, the benchmark equity indices rose to record levels due to solid corporate earnings and better than expected retail sales. There has also been optimism about some economic data. The expected tightening in monetary policy, as well as historically high inflation are both catalysts for market volatility. But the shares of Canadian Natural Resources (NYSE:), Signet Jewelers (NYSE:), and Covenant Logistics (CVLG) have achieved significant momentum of late, which they are expected to maintain, dodging the market’s fluctuations. These stocks are solid investments now, according to us. Let’s continue our discussion. Tuesday saw the benchmark indices rally, supported by stronger-than-expected earnings for retail and strong retail sales data. The S&P 500 gained 0.53% to reach 4,707.90, close to its all-time high, while the Dow gained 133 points. The S&P 500 has gained 25% so far this year.

However, Goldman Sachs Group Inc. (NYSE:) analysts expect the benchmarks to cool off late this year, rising by a modest 9% through year’s end 2022 due to decelerating economic growth and the cessation of fed monetary support. The equity benchmarks’ record rally amid expectations of tightening fed policy and inflation is raising concerns about market volatility. In this market, it may be prudent to place your bets on stocks that are gaining momentum and will continue to do so, regardless of market conditions.

Investors’ interest in momentum stocks is evidenced by the SPDR Russell 1000 Momentum Focus ETF’s (NYSE:) 32.1% gains over the past year, and 5.4% returns over the past month. Canadian Natural Resources Limited shares (CNQ). Signet Jewelers Limited (SIG), and Covenant Logistics Group, Inc. (CVLG) have gained significant momentum lately, which they have the potential to maintain, dodging the market’s volatility. Thus, we think these stocks could be solid additions to one’s portfolio for the rest of the year.

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