In today’s episode of Full Court Finance here in Zacks, Ben Rains quickly delves into the reasons why Wall Street looks optimistic on Monday, with stocks rising sharply. Despite the positivity surrounding the possible spike in coronavirus infections in the United States in the coming week, investors should still be looking for stocks that appear immune to the broader fallout from the coronaviruses that have ended many aspects of the economy.
The Dow Jones, S&P 500 and Nasdaq all jumped about 5.5% in morning trading on Monday, as Wall Street and investors appear pleased with signs that social distancing is working in the United States and elsewhere. However, health officials and the White House have warned that models suggest that the number of coronavirus cases will likely peak again soon.
In the midst of all the economic uncertainty and coronaviruses, investors should still try to be in the market, because if you had completely pulled out two weeks ago, you would have missed a solid rebound from recent lows.
That said, investors should be looking for stocks that could continue as usual during the broader economic downturn.
Chewy CHWY announced solid financial results for the fourth quarter of fiscal 2019 on Thursday and its inventory has increased significantly in the past three weeks. Overall, the pet e-commerce firm seems poised to grow amid the coronavirus as consumers turn to Amazon AMZN, Uber Eats UBER and many other forms of delivery.
Meanwhile, the stock giant Nasdaq NDAQ, which is expanding its activities to become a more diversified “technology and analysis provider”, seems ready to develop under current market conditions. NDAQ is also part of a highly rated securities and trading industry that includes CME Group CME, Cboe Global Markets CBOE, Intercontinental Exchange Inc. ICE, and more.
We then finish with an overview of why the pharmaceutical titan title Eli Lilly LLY looks solid, as part of a solid, large-cap pharmaceutical space that includes Pfizer PFE, Merck MRK and Johnson & Johnson JNJ.
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Johnson & Johnson (JNJ): Free Stock Analysis Report
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
Pfizer Inc. (PFE): Free Stock Analysis Report
Merck & Co., Inc. (MRK): free stock analysis report
Cboe Global Markets, Inc. (CBOE): Free Stock Analysis Report
Eli Lilly and Company (LLY): free stock analysis report
Intercontinental Exchange Inc. (ICE): Free Stock Analysis Report
CME Group Inc. (CME): Free Stock Analysis Report
Nasdaq, Inc. (NDAQ): Free Stock Analysis Report
Uber Technologies, Inc. (UBER): Free Stock Analysis Report
Chewy Inc. (CHWY): Free Stock Analysis Report
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