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The economic recovery has regained its momentum, as is evident in the reduction in jobless claims to near pre-pandemic levels. Jobless benefits declined to a 20-month low in early November.
However, the tech-heavy Nasdaq Composite declined on Tuesday, as a rise in Treasury yields prompted investors to buy stocks. Hence, with the low-interest-rate environment continuing, we think it could be wise to invest in fundamentally sound stocks ArcelorMittal (MT), Silicon Motion Technology Corporation (SIMO), and Genesco Inc . (GCO). Each name looks undervalued at its current price levels.
