Skip to main content

Here’s Why U.S. Stocks May be Headed Higher

U.S. stocks were back up to their old tricks last week, as volatility waned and financial, industrial and retail stocks waxed. It was a week in which risk was in fashion - until Friday, when the U.S. Securities and Exchange Commission (SEC) hammered Goldman Sachs Group Inc. (NYSE: GS ) with fraud charges related to the subprime-mortgage crisis. With that, playing defense was considered offensive. Leading the way forward were companies that are the ultimate in beta and hopefulness - such as beaten-down bond insurer Ambac Financial Group Inc. (NYSE: ABK ) , which rose 60%, beaten-down car parts maker American Axle & Manufacturing Holdings Inc. (NYSE: AXL ) , up 10%, beaten-up retailer Tuesday Morning Corp. (Nasdaq: TUES ) , up 24%; and beaten shoemaker Crocs (Nasdaq: CROX ), up 20%. We're not talking, here, about investors who last year bought the shares of companies that were left for dead; these stocks might actually be worth something in an economic turnaround.
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.