With elevated interest rates and an increasing likelihood of a recession, the stock market is expected to remain volatile in the near term. So, fundamentally strong stocks PulteGroup, Inc. (PHM – Get Rating) and YPF Sociedad Anónima (YPF – Get Rating), which have gained solid momentum, could be great portfolio additions now.
The Federal Reserve raised its benchmark rate to a range of 5% to 5.25%, the highest level since 2007, in an effort to combat inflation. The latest increase was the 10th straight interest-rate hike since last March. This is the most aggressive rate-hiking regime since the 1980s.
Bill Winters, Chief Executive Officer of Standard Chartered, stated that he sees a big recession in the United States as unlikely, although a period of negative growth was possible.
According to the Conference Board, the most current recession probability estimates based on its probability model remain near 99%, indicating a recession in the United States over the next 12 months.
Let’s delve deeper into the fundamentals of the stocks…
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