Growth stocks are gaining momentum amid bullish market sentiment and recently agreed upon infrastructure spending proposals in the U.S. Senate. We think that continued government support and an economic recovery should allow growth stocks Companhia Siderúrgica Nacional (SID) and Matson (NYSE:MATX), which have impressive earnings histories, to reach fresh price highs soon. Read on.Investors are shrugging off concerns surrounding the rapid spread of the COVID-19 Delta variant. The markets opened on a bullish note on the first trading day in August. In fact, the S&P 500 index entered its seventh straight month of gains today, while the Dow Jones Industrial Average (DJIA) trading near its record highs.
The U.S. Senate finalized the text of a $1 trillion bipartisan infrastructure bill over the weekend, driving investor optimism despite several headwinds. Consequently, growth stocks are expected to see big gains.
Companhia Siderúrgica Nacional S.A. (SID) and Matson, Inc. (MATX) are expected to benefit from the current backdrop given their solid growth attributes. Thus, we think these two stocks are ideal bets now.