© Reuters. 4 Stocks That are Bucking the Market’s Downtrend
Amid the broader market slump caused by concerns about the spread of the COVID-19 Delta variant and rising inflation, shares of PepsiCo (NASDAQ:), Novo Nordisk (NYSE:), Humana (HUM), and Nokia (NYSE:) have been rallying thanks to investors’ optimism over their solid growth prospects. So, we think it could be wise to bet on them now. Read on for a closer evaluation of these names.After a solid run amid the economic recovery, the broader market has pulled back due to the spread of the hyper-contagious Delta variant of the COVID-19 virus and investors’ concerns over high inflation. The consumer price index increased an annualized 5.4% in June, representing its largest jump since August 2008.
The three major benchmark indexes ended last week with losses. While concerns about high inflation and declining consumer sentiment might maintain pressure on the market in the near term, a few stocks with strong fundamentals should keep rallying.
Shares of PepsiCo, Inc. (PEP), Novo Nordisk A/S (NVO), Humana Inc . (NYSE:), and Nokia Corporation (NOK) have been rallying amid the broader market slump on their solid financials and consistent product and service innovations. So, we think it could be wise to bet on them now.
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