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3 ETFs to Buy as the Bull Market Makes a Comeback

Stock MarketsJul 27, 2021 03:30PM ET
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© Reuters. 3 ETFs to Buy as the Bull Market Makes a Comeback

Despite concerns regarding the spread of the COVID-19 Delta variant, the market has made a comeback since its wobble last week thanks to strong corporate earnings. And because the market is expected to keep moving higher in the near term, we think it could be wise to bet on quality ETFs Invesco QQQ Trust (QQQ), iShares Trust - iShares Russell 2000 ETF (IWM), and ARK ETF Trust - ARK Innovation ETF (ARKK). They each possess higher-than-market return potential.A broader market sell-off was witnessed early last week on investors’ concerns about the rapid spread of the highly contagious Delta variant of COVID-19. However, The Goldman Sachs Group , Inc. (NYSE:GS) equity strategist David Kostin noted in a report yesterday that, “Investors are concerned about the impact on economic growth from the Delta variant, but the new strain should not pose a major market risk.”

All three major stock market indexes closed yesterday’s regular session at record highs, marking gains for five straight trading days, driven primarily by strong corporate earnings. According to a FactSet report, among the S&P 500 companies that have reported second-quarter results as of July 23, 88% beat the consensus EPS estimates, which compares to a 75% five-year average.

The market is expected to continue rallying in the near term, with promising results expected from the big techs this week. Therefore, we think it could be wise to bet on quality ETFs—Invesco QQQ Trust (QQQ), iShares Trust - iShares Russell 2000 ETF (IWM), and ARK ETF Trust - ARK Innovation ETF (ARKK)—that have a high beta. These ETFs have the potential to generate higher-than-market returns in the near term.

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3 ETFs to Buy as the Bull Market Makes a Comeback
 

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