Published on 8 May 2024 on Zacks via Yahoo Finance
5 Growth Stocks to Buy for Steady Returns in May
April is known for being favorable to Wall Street investors. But this year, April ended on a disappointing note. A sticky inflation rate, a resilient labor market and a significant decline in the U.S. GDP growth rate dented market participants’ confidence in risky assets like equities.
However, U.S. stock markets rebounded in early May as recently released economic data boosted market participants’ confidence in equities. A sharp decline in April job additions, a notable deterioration of the U.S. GDP growth rate in first-quarter 2024, the contraction of manufacturing and services PMI in April and a less-than-hawkish statement by Fed Chair Jerome Powell after the May FOMC meeting raised expectations for an interest rate cut.
Positive Catalysts