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3 Top Cyclical Stocks Poised to Take Off with the Economy

Stock MarketsJun 03, 2021 05:30PM ET
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© Reuters. 3 Top Cyclical Stocks Poised to Take Off with the Economy

Cyclical stocks are gaining momentum as the economy recovers from the pandemic-driven recession. And we think favorable government policies and rising consumer spending position EOG Resources (NYSE:EOG), Chipotle (CMG), and Chemours (CC) to grow significantly in the coming quarters. Read on.Cyclical stocks have been the biggest beneficiaries of the fast-paced economic revival with investors now betting on turnaround candidates as the economy climbs back towards pre-pandemic operational levels. The United States’ real GDP increased at a6.4% annualized rate in the first quarter, ended March 31.

A robust COVID-19 vaccination drive, rising consumer spending and declining unemployment rates indicate bright prospects for cyclical stocks. Furthermore, President Biden’s proposed American Jobs Plan and revised income tax rates should boost per capita income levels among the middle class. As people engage in outdoor activities following more than a year of social distancing, cyclical companies are expected to witness soaring demand for their products and services.

Given this backdrop, we think it is wise to invest in fundamentally sound cyclical stocks EOG Resources, Inc. (EOG), Chipotle Mexican Grill, Inc. (NYSE:CMG), and The Chemours Company (NYSE:CC). They are poised to deliver significant returns in the coming months.

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3 Top Cyclical Stocks Poised to Take Off with the Economy
 

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