The Dow Jones Industrial Average (DJIA) notched a fresh record close yesterday, despite fears surrounding the resurgence of COVID-19 cases and geopolitical tensions related to the U.S.’ Afghanistan withdrawal. Because Wall Street remains bullish, we think fundamentally sound DJIA stocks Salesforce.com (NYSE:CRM) and Amgen (AMGN) could soar in price. Let’s discuss.Despite the growing anxiety over the surge in COVID-19 cases worldwide and the geopolitical tensions related to the collapse of the Afghan government, the Dow Jones Industrial Average registered a new record close on August 16. Buoyed by a solid set of corporate earnings results, the blue-chip index also closed at a record high last week.
Declining demand for crude oil and lagging economic recovery in China have raised investor concerns about the potentially dampening effect on business activities and global growth. However, some Wall Street analysts remain optimistic because the U.S. stock market indices have recovered quickly from the pandemic-induced recession. According to JPMorgan (NYSE:JPM), “We remain bullish on stocks (particularly cyclicals/value) thanks to a strong earnings season, signs of receding risk from the Delta variant, and normalization of bond-equity correlation.”
Salesforce.com, Inc. (CRM) and Amgen Inc . (NASDAQ:AMGN) are two fundamentally stable Dow Jones stocks with considerable growth potential. Given the positive market sentiment, growing market share, and solid business models, we think these two stocks should soar.