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However, promising data for Merck & Co., Inc.’s (MRK) oral COVID-19 treatment has provided some support to the market in addition to expectations of another strong earnings season. In August, Federal Reserve Chairman Jerome Powell indicated that “rate hikes aren’t imminent,” Moreover, according to a Factset report, more S&P 500 companies have issued positive EPS guidance for the third quarter.
So, it could be wise to scoop up shares of Micron Technology, Inc. (MU), Foot Locker, Inc. (FL), Nu Skin Enterprises, Inc. (NUS), and MRC Global Inc. (MRC). Wall Street analysts expect these stocks to rally more than 35% in the near term.
