The stock market rally continued yesterday, despite the opening of public impeachment hearings of President Donald Trump. Instead, the market is focussing on the good vibes surrounding the US-China trade deal, and better-than-expected corporate earnings.
The impeachment hearing isn’t affecting the markets. It’s old news and the market never really seemed to care much in the first place. Stocks have been marching higher since the start of the week, and the rally could continue if the US-China deal continues to progress.
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Latest Stock Market News
Fed Chair, Jerome Powell told Congress on Wednesday that interest rates will remain steady for the foreseeable future. However, the market didn’t freak out. Investors are more worried about the US-China situation, but traders always listen closely when the Fed Chairman speaks. Investors will be keeping an ear tuned to Powell’s appearance in front of Congress, set for later Thursday afternoon.
Best Stocks to Invest in This Week
The stock market is approaching a new all-time high due to positivity surrounding the US-China trade deal. Here are the best stocks to invest in this week.
Cardlytics Inc. (CDLX)
Cardlytics is one of the best performers of the week. The stock is up by 43% percent since the start of the week, after rising from $39.64 per share on Monday to trade at $56.94 at the earliest trading hours of Thursday.
The massive rise in Cardlytics’ stock could be due to the earnings report released on Tuesday, November 12. Cardlytics surpassed revenue and earnings estimates for the third quarter of the year. The quarterly EPS was $0.03, surpassing the Zacks Consensus Estimate of a loss of $0.15. Also, earnings of $56.42 million exceeded analysts’ estimation by over 120%. Cardlytics’ stock has been soaring since then and could rise even further over the coming days as traders turn bullish on the stock.
Nortech Systems Incorporated (NSYS)
Nortech Systems Incorporated is another stock that has performed superbly over the past three days. The stock had surged to $6.05 per share from $2.70 before retreating to the current price of $4.10 per share.
The rally represents a weekly increase of roughly 50% in three days and could be set to rise higher as the market attempts to reach a new high. Similar to Cardlytics, the surge in Nortech’s stock could be attributed to its overwhelming success in the last quarter.
According to their Q3 data, Nortech generated net sales of roughly $30.1 million, which is higher than the $29.6 million obtained in the same quarter last year. The company’s EPS was $0.16, higher than last year’s $0.14 per share. Nortech’s stock might rally further before the end of the year as the company expresses optimism for the current quarter.
FuelCell Energy Inc. (FCEL)
November has been a favorable month for FuelCell Energy so far. The company announced a strategic corporate loan to carry out projects earlier this month. Investors’ confidence in the stock is on the rise, which adequately supports its recent rally.
FuelCell’s stock is up by roughly 48% this week, having risen from $0.43 on Monday to trade at $0.85 on Thursday’s pre-market trading session. Earlier this month, FuelCell announced a new $200 million strategic corporate loan facility to help execute certain projects.
The company partnered with Orion Energy Partners, with the funds to be used for various FuelCell projects in the coming months. With such developments in place, the stock could rally further over the coming days and weeks.
More On Best Stocks To Invest In This Week
The US stock market is approaching a new all-time high despite impeachment hearing against President Trump. For more weekly best stocks, and all the latest stock market news, follow The Dork on Facebook and Twitter. Also, don’t forget to sign up for mobile Dork Alerts to get all the latest hot stock picks, insights, and analysis delivered right to your cell.