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Also on the positive side macroeconomically, weekly jobless claims are expected to reach a new pandemic-era low. Analysts expect unemployment claims to come in at 260,000 versus 267,000 reported in the prior week, which would mark the sixth straight week with jobless claims below the 300,000 level. Also, President Biden recently signed the long-awaited trillion-dollar bipartisan infrastructure bill into law, which could potentially boost the U.S economy further.
The economic recovery, low-interest-rate environment, and solid corporate earnings should continue supporting the stock market. Given this backdrop, Wall Street analysts expect low-priced stocks Castlight Health, Inc. (CSLT) and Lincoln Educational Services Corporation (LINC) to rally by more than 25% in the near term. This, along with solid fundamentals, we think makes these stocks good bets right now.
