(C) Reuters. 3 Stocks Likely to Keep Trending Higher After Strong Earnings Reports
Solid first-quarter corporate earnings have so far proved to be a bright spot in the U.S. economy, which is still emerging from the brutal effects of the COVID-19 pandemic. Sizable fiscal stimulus, continued monetary policy support, improved demand and recovering production capacity are some of the factors that have aided better-than-expected corporate earnings. After reporting impressive earnings, shares of International Business Machines Corporation (NYSE:IBM), Goldman Sachs (GS), and The Blackstone Group (NYSE:BX) have moved higher, and we believe they should continue gaining. Let’s discuss.As the U.S. economic recovery picks up steam, corporate earnings are proving to be a pleasant surprise for the investors. With a substantial reduction in COVID-19 cases, and fresh fiscal stimulus in the guise of the $1.9 trillion American Rescue Plan coming in at the higher end of expectations, companies that have reported first-quarter so far have impressed investors. Some of the companies have even reported their strongest profit growth in more than a decade.
Furthermore, the nation’s fast-paced vaccination program has investors looking forward to and investing based on a widespread, emerging sense of normalcy. Given that the economy started to register a potentially strong recovery, businesses rebounded sharply in the last quarter.
Improved demand and significant growth in spending have contributed to the strong earnings numbers. Established corporate giants like International Business Machines Corporation ( IBM ), The Goldman Sachs Group , Inc. (NYSE:GS), and The Blackstone Group Inc. (BX) have reported solid results in their last reported quarter and investors have rewarded their stocks. And we believe these stocks will keep advancing in the near term.
3 Stocks Likely to Keep Trending Higher After Strong Earnings Reports
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