This year, geopolitical turmoil, sky-high inflation, and aggressive interest rate hikes have affected the stock market. This resulted in decreased investor confidence and…
massive stock selloffs.
However, after the inflation had shown signs of cooling, which ultimately led to an indication of agreement among the Fed officials about slowing interest rate hikes soon, investor sentiments have uplifted. Additionally, Fed Chair Jerome Powell has confirmed that smaller interest rate increases are likely ahead.
Over the past month, the S&P 500 grew 5.4%, and the Dow Jones Industrial Average rose 5.7%. Moreover, veteran strategist Ed Yardeni expects the stock market to surge another 8% before year-end as the economy proves more resilient than expected.
With growing optimism among investors, growth stocks General Motors Company (GM), Rambus Inc. (RMBS), MaxLinear, Inc. (MXL), and Celestica Inc. (CLS) could be wise additions to the portfolio now, given their strong fundamentals.
General Motors Company (GM)
GM designs, builds, and sells trucks, crossovers, cars, automobile parts, and accessories in several parts of the world. Its segments are GM North America; GM International; Cruise; and GM Financial.
On November 17, GM and Vale Canada Limited, a subsidiary of Vale S.A. (VALE), announced the signing of a term sheet for the long-term supply of battery-grade nickel sulfate from VALE’s proposed plant at Bécancour, Québec. Securing the supply of the material is expected to support GM’s EV production needs in North America.
On October 24, GM declared a…
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