4 Stocks That Could Help Grow Your Portfolio Over the Next Decade

As the Fed indicated higher-than-expected rate hikes this year, a strong labor market and high inflation will likely keep the stock market under pressure for some time now. Amid this backdrop, we believe it could be wise to buy fundamentally strong stocks Salesforce, Inc. (CRM), Progress Software Corporation (PRGS), Photronics, Inc. (PLAB), and Forrester Research, Inc. (FORR).

Despite the Federal Reserve’s efforts to slow the economy and bring down inflation, the latest employment report came in stronger than expected. While job growth declined compared to January, nonfarm payrolls rose by 311,000 in February, higher than the estimate of 225,000, indicating a tight labor market. However, the unemployment rate rose to 3.6% last month, up from 3.4% in January.

Given the strong labor market, investors are bracing for a more aggressive 0.50% rate hike after Fed Chair Powell told lawmakers this week, “the ultimate level of interest rates is likely to be higher than previously anticipated.”

John Lynch, chief investment officer at Comerica Wealth Management, said, “Nonetheless, 50 basis points is…

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