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The market expects nearly three rate increases in 2022, yet stocks are at record highs. According to Jefferies (NYSE:JEF) strategist Sherif Hamid, “A lot of near-term hawkishness is thus already in the price.” Also, according to a Factset report, the S&P 500 will close above 5,200 in 2022.
Given this backdrop, we think it could be wise to bet on fundamentally sound stocks QUALCOMM Incorporated (QCOM), GMS Inc. (GMS), Axcelis Technologies, Inc. (ACLS), and Huttig Building Products, Inc. (HBP). They have been rallying over the past few months and are expected to be part of this year’s Santa Claus rally.
