You can see the complete list of today's Zacks #1 Rank stocks here.Īvis Budget Group provides car and truck rentals, car sharing, and ancillary services to businesses and consumers.
Each of our picks carries a Zacks Rank #1 (Strong Buy) and a Value Score of A. We have narrowed our search to five value stocks. Our Top PicksĪt this juncture, investors should be prepared to minimize fluctuations in their portfolio and consequently rebalance it with suitable financial assets to maintain stability. Several economists and financial experts consider this situation as an indication of a near-term recession. The inversion of yields between 10-Year and 2-Year Treasury Notes continues for four-straight month. Treasury Note jumped to 3.345%, its highest since Jun 16. On Sep 6, the yield on the benchmark 10-Year U.S. As of Sep 2, our estimate projected 1.4% growth in earnings per share, well below the 7.6% improvement projected on Jun 1. However, we are seeing a significant drop in earnings projection for the third quarter. The second-quarter 2022 earnings results were better than expected despite the margin squeeze. Thereafter, there is a 72.3% probability of a rate hike of 50 basis points in the November FOMC and a 71% probability of another 25 basis-point rise in the December FOMC. Per CME FedWatch, at present, 74% of the market respondents are expecting a 75 basis-point rate hike in the September FOMC. As a result, market participants are highly concerned about a recession in the U.S. Furthermore, the central bank has started to systematically reduce the size of its $9 trillion balance sheet from June.įed Chairman Jerome Powell and various other top Fed officials with voting rights have indicated that the rigorous rate hike will continue until inflation is at least down to near the Fed's 2% target rate. Inflation continues to be at a 40-year high despite an increase in the Fed Fund rate from almost zero to 2.5% from March to July. The situation is more complicated this year. September is historically known as the worst-performing month on Wall Street. Inflation, Imminent Rate Hike and Other Concerns Five of them are Avis Budget Group Inc., Marathon Petroleum Corp., Pilgrim's Pride Corp., United Rentals Inc.
These stocks could prove to be valuable once the rally resumes. At this stage, it would be prudent to pick value stocks with a favorable Zacks Rank to cushion the portfolio as well as make some gains from the upside potential.
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