After Already Gaining 30% YTD, These 3 Growth Stocks Can Soar Even Higher By StockNews

After Already Gaining 30% YTD, These 3 Growth Stocks Can Soar Even Higher

Stock Markets Jul 14, 2021 04:30PM ET

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After Already Gaining 30% YTD, These 3 Growth Stocks Can Soar Even Higher

Growth stocks have been gaining traction lately on reflation trades and bullish market sentiment. And because the Fed recently reiterated its stance on maintaining its dovish monetary policy to further boost the economy, we expect popular growth stocks Goldman Sachs (GS), Zebra Technologies (ZBRA), and Nucor (NUE) to gain substantially. Read on. The stock markets have been rallying over the past couple of months, driven by the Fed’s unabated loose monetary policy and a strong, national vaccination drive. The major benchmark indexes are currently hovering near record highs, following Fed Chairman Powell’s statement that the U.S. job market “is still a ways off” from target levels. The S&P 500 has gained 36.6% over the past year and 16.3% year-to-date. And the tech-heavy Nasdaq Composite has gained 13.9% year-to-date and 39.9% over the past year.

Growth stocks have been the biggest beneficiaries of the bullish markets, as investors switch to growth stocks from value names in surging reflation trading amid declining Treasury yields.

Growth names Goldman Sachs Group , Inc. (NYSE:GS), Zebra Technologies Corporation (ZBRA), and Nucor Corporation (NYSE:NUE) have been among the best performers in their respective industries, with more than 40% gains year-to-date. And we believe these companies’ promising growth prospects should allow their shares to hit fresh highs soon.

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