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Barron's: 5 Best Stocks So Far This Year

Barron's: 5 Best Stocks So Far This Year

By    |   Tuesday, 02 July 2019 09:10 AM

As we enter the second half of the year, Barron’s has determined the five best-performing S&P 500 stocks so far into 2019.

The benchmark S&P 500 index gained 16.5% through June, while the Dow Jones Industrial Average rose 13.9% and the Nasdaq Composite added 20.1%.

Barron’s selected these five stocks at best in the first half:

  • Coty stock (COTY) soared more than 89% through June. “The parent company of Covergirl surged amid a February offer from German conglomerate Jab Holding to boost its stake in the stock,” Barron’s said.
  • Xerox stock (XRX) jumped more than 75% through June. The Xerox spike, Barron’s reported, can be attributed “to a huge surge after its first-quarter earnings report. Xerox has benefitted from better management of its software offerings under the new leadership of CEO John Visentin.”
  • Chipotle stock (CMG) rose more than 65% in the first half. “Chipotle stock has been rising steadily with improved operations under CEO Brian Niccol, who started last year,” Barron’s said.
  • Cadence Design Systems stock (CDNS) gained about 64%. “Despite volatility in the semiconductor industry, the maker of circuits and other electronic design tools has posted strong results. As a main supplier of software that’s used to design chips, it had to cut Huawei off and its stock dipped at the end of the May, but it has gained nearly all of it back,” Barron’s explained.
  • MSCI stock (MSCI) climbed almost 63%. “Under the leadership of Henry Fernandez—one of Barron’s 2019 World’s Best CEOs—MSCI has expanded into a vast supermarket for financial benchmarks amid the rise in index investing, ESG investing, and low mutual fund to GDP ratios in China and India. All of those are likely to continue driving growth for MSCI,” Barron’s explained.

The benchmark S&P 500 index hit a record high Monday, but optimism sparked by the U.S.-China trade truce quickly waned and a fresh threat of tariffs on Europe kept investors on edge.

A clutch of discouraging manufacturing surveys in the past 24 hours from around the world that rekindled fears of a global economic slowdown added to the cautious mood.

U.S. markets rose on Monday as Washington and Beijing agreed to resume trade talks and President Donald Trump offered concessions including no new tariffs and an easing of curbs on Huawei Technologies Co Ltd, Reuters explained.

However, Washington threatened to slap tariffs on $4 billion of additional EU goods, ratcheting up pressure on Europe in a long-running dispute over aircraft subsidies.

“While the threat of additional tariffs on EU imports is still an overhang for investors, the market is more likely taking a breather until new macro-economic data comes out,” Peter Cardillo, chief market economist at Spartan Capital Securities said.

Meanwhile, a  majority of Wall Street pros in a CNBC survey say their overall market view remains optimistic, and more than 65% say they believe equities are correctly valued.

More than half of respondents to the “Halftime Report Stock Survey” say they believe the Federal Reserve should cut interest rates at its next meeting at the end of this month, CNBC explained.

Half of respondents say they expect Q2 earnings to top expectations, and 65% say the United States is still the best place to invest. Tech, financials and health care are top sector picks.

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As we enter the second half of the year, Barron’s has determined the five best-performing S&P 500 stocks so far into 2019.
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Tuesday, 02 July 2019 09:10 AM
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