Over the past month, the Nasdaq Composite has gained more than 5%, significantly outperforming the other two major indices. The market appears to be bullish on the tech-heavy index’s rebound owing to optimism surrounding the Federal Reserve’s reassurance about not increasing interest rates quickly. As such, we believe leading Nasdaq stocks SS&C Technologies (SSNC), Omnicom Group (OMC), and Kulicke and Soffa Industries (KLIC) will deliver solid returns in the second half of the year. Read on.The tech-heavy Nasdaq Composite has gained more than 5% over the past month—outperforming the S&P 500 and the Dow Jones Industrial Average—as the accelerated pace of the global digital transformation continues to favor the technology industry. In fact, the Nasdaq Composite hit a record high on June 23 after Federal Reserve officials sought to calm fears of a sharp tapering of monetary easing.
Fed Chair Jerome Powell’s recent statement that the central bank will not be raising interest rates too quickly based solely just based on the possibility of an increase in inflation has buoyed investors’ optimism about technology stocks’ the growth prospects of technology stocks in the second half this year. With continued digital transformation and support from the low- interest- rate- environment, the tech industry is poised to soar.
Given this backdrop, we believe prominent Nasdaq stocks SS&C Technologies Holdings, Inc. (SSNC), Omnicom Group Inc. (NYSE:OMC), and Kulicke and Soffa Industries, Inc. (KLIC) will are expected to achieve experience sustainable growth and deliver market-beating returns in the coming months.