5 Top-Ranked Stocks That Have Crushed The Dow In 2017
Zacks Investment Research | Dec 15, 2017 07:04AM ET
The Dow has come a long way since Trump’s ascension to the post of the U.S. President. The blue-chip index was lingering at 18,000 at the time of Trump’s election on Nov 8, 2016. However, the index has surged 6,000 points and notched up about 80 record highs since then. This year, the benchmark has gained nearly 24.4%.
The blue-chip index’s run has been powered by strong economic growth of more than 3% for two quarters in a row till the last reported one and stupendous corporate earnings. Moreover, optimism around Trump’s tax reform promises has acted as a necessary catalyst to overall gains so far this year. We suggest you place your bet on those stocks that have surpassed the Dow’s performance this year.
U.S. Economy at Its Highest Rate of Growth
According to the latest report from the Commerce Department, the U.S. economy improved at an impressive annual rate of 3%. This came in above the consensus estimate of 2.6%, but below the second quarter figure of 3.1%. This also marked the first time since 2014 that the U.S. economy has expanded at a 3% annual pace for two consecutive quarters.
The growth rate confirms the economy’s resilience toward devastating events like the recent hurricanes. The strength largely comes from vigorous business spending on equipment, a rebound in corporate profits and solid government spending.
In October, consumer confidence increased from an upwardly revised level of 126.2 to 129.5, exceeding the estimated mark of 123.9. This is the highest level since the reading of 132.6 recorded in November 2000. Consumer confidence also improved on last month’s initial reading of 125.9, which was, at the time, the highest level in 17 years.
During the fifth straight month of gains, the present situations index advanced from 152 to 153.9 while the expectations index increased from 109 to 113.3. A large part of this optimism can be attributed to consumer view on the job market. The section of consumers who expect job openings to increase over the next few months increased from 18.7% to 22.6% in November. (Zacks Investment Research
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