The stock market is expected to experience significant volatility in the coming weeks as investors’ concern regarding the Fed’s upcoming decision on bond tapering and interest rate hikes remains. Thus, we think Silicon Motion Technology (NASDAQ:SIMO) and Ryerson Holding (RYI), companies that possess exceptional growth features, could be ideal bets now. Read on.The Federal Reserve is expected to announce its plans to begin tapering its monthly bond purchases today. Though the Fed's decision to cut bond purchases by $120 billion per month was widely anticipated, how it plans to execute the policy is vital to the market. In addition, Wall Street banks are ramping up their preparations for potentially heightened market volatility with the withdrawal of monetary stimulus.
Consequently, investors are expected to now shift their focus to quality growth stocks to dodge short-term market volatility and benefit from their long-term growth prospects. Moreover, with the economy in the expansionary phase, growth stocks should perform well.
Therefore, we think it could be wise to bet on quality stocks, Silicon Motion Technology Corporation (SIMO) and Ryerson Holding Corporation (RYI). Both the stocks possess solid growth attributes.