Below is the usual weekly summation, the main positive being that the three major indexes again closed up for the week and have as of Friday regained most of the losses incurred during the pandemic March crash. For once, whether wisely or not, the spiraling pandemic has been knocked off the list of major negatives and supplanted by the controversy regarding mail-in voting and the U.S. Postal Service. The bonus this Sunday is something we're always looking for -- a nice list of investment opportunities, this time the solid companies that are currently at 52-week lows and therefore ripe for the buying. Hope everyone enjoyed this very pleasant weekend.
Succinct Summation of Week’s Events 8.14
Succinct Summations for the week ending August 14th, 2020
Positives:
1. Markets recover from midweek selloff to close up for the week.
2. Jobless claims fell from 1.191M to 963K w/o/w, below expectations.
3. Home mortgage apps rose 2.0% m/o/m.
4 CPI rose 0.6% m/o/m, above expectations.
5. Job openings rose from 5.371M to 5.889M in June, above below expectations.
6. PPI-FD rose 0.6% m/o/m, above expectations.
7. Consumer sentiment stands at 72.8 for August, above expectations.
Negatives:
1. POTUS admits to sabotaging election via USPS;
2. Retail sales rose 1.2% m/o/m, below previous increase of 8.4%.
3. Industrial production rose 3% m/o/m, below previous increase of 5.7%.
4. Business inventories fell 1.1% m/o/m, meeting expectations.
5. Import prices are down 3.3% and export prices are down 4.4% y/o/y.
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Good morning, investors. Short sellers are going in on Big Tech this month. See the five most shorted shares in August below. TODAY'S FEATURED STOCK STORY 7 Stocks to Buy at 52-Week LowsThe U.S. stock market plummeted earlier this year before recovering its losses and pushing on to even bigger gains. Yet not every company recovered along with the wider market, and some good stocks were left behind near their lowest price points of the year. Stocks that trade near their 52-week lows are often dismissed as bad investments, but the fact that they're trading on the cheap isn't a good reason to ignore them – in fact, smart investors who pay close attention to these companies can find some diamonds in the rough. This is especially true these days when geopolitical and pandemic-related problems weigh down companies that should otherwise be performing quite well. Here are seven stocks to buy while they're trading near their 52-week lows: 1. Revlon (ticker: REV). The global pandemic has led to unintended consequences for this cosmetics company. But its restructuring program will lead to cost reductions in the future, while in the near term, Revlon's e-commerce sales have skyrocketed 47% – a combination that indicates Revlon won't be hovering near its 52-week low forever. 2. FirstCash (FCFS). A business well-positioned to profit from these unprecedented times, FirstCash unfortunately wasn't able to benefit from the uncertainty we experienced this past quarter – but the company is now prepared to reap the rewards of an economic recovery. Click here to continue. |
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Best 52-week-low stocks to buy:
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