The S&P 500 has more than doubled since the onset of the COVID-19 pandemic. Furthermore, the benchmark indices are currently trading near their record highs. And the low-interest-rate environment and solid corporate earnings should keep supporting the market. Therefore, we think undervalued stocks AutoNation (NYSE:AN), Celestica (NYSE:CLS), and ARC Document (ARC), which each has an A (Strong Buy) rating in our proprietary rating system, could be worth betting on now. Read on.The S&P 500 has more than doubled since the onset of the COVID-19 pandemic in March 2020. The benchmark finished a streak of eight straight all-time closing highs last week, its longest such stretch since 1997. It has registered 65 all-time highs so far this year.
However, the market has wobbled in recent days. Both the Dow Jones Industrial Average and the tech-heavy Nasdaq retreated 0.04% on Monday, while the S&P 500 remained unchanged, ending the session at 4,682.80. However, the indices ended the trading session near their record highs.
The low-interest rates and solid corporate earnings should keep supporting the market’s momentum. Therefore, quality stocks, AutoNation, Inc. (AN), Celestica Inc . (CLS), and ARC Document Solutions, Inc. (ARC), which have an A (Strong Buy) rating in our proprietary POWR Ratings system, could be ideal bets now. These stocks look undervalued at their current price levels.