26 cheap stocks to buy now that Omicron hits the markets: Wells Fargo

It might be time to do some holiday shopping not in malls but in Stock market bruised, says Chris Harvey, senior equity strategist at Wells Fargo.

“Holiday Sale!” Harvey said in a research note. Wednesday.

Harvey lists 26 stocks (see list below) as potential purchases at the moment, under the titles of American Express, Ralph Lauren, Expedia, Hyatt Hotels and Schlumberger.

All stocks in the proposed list boast the following key criteria for Harvey: (i) all stocks rated (buy) by Wells Fargo analysts; (ii) Inventories are down 10% or more since November 8th; They have long-term positive momentum; A reasonable ratio of net debt to EBITDA (earnings before interest, taxes, depreciation, and amortization); quality return on equity ratio; And a market value of not less than 3 billion dollars.

Harvey adds, “For the first time since the market began to fade, we believe the real holiday sales may not be online or at the mall, but rather in the stock market.”

Wells Fargo releases a helpful list of potential stocks to buy now that markets have pulled back from their highs.

Wells Fargo releases a helpful list of potential stocks to buy now that markets have pulled back from their highs.

Harvey’s buy list comes as markets continue to endure a turbulent stretch, Which started with a huge loss of more than 1,000 points for the Dow Jones Industrial Average The day after Thanksgiving.

The Dow Jones Industrial Average fell 652 points In Tuesday’s trading, while the Nasdaq Composite and the S&P 500 were also deeply in the red. All components of the Dao Thirty It was red for the session, except for An apple and Merck.

The arrows were hit by one or two punches from Omicron’s shifting fears and Surprisingly tough testimony before lawmakers from Federal Reserve Chair Jerome Powell.

“This tone is very different from anything he has used over the past three years…and this, in and of itself, equates to a significant policy change by the Chairman and the Federal Reserve as a whole. In other words, a ‘gradualism’,” said Matt Malley, Chairman Miller Tabak, ” The Fed uses it all year long. Therefore, the way investors should view the ‘don’t fight the Fed’ strategy has changed in a fundamental way this week,” the markets strategist.

Markets tried to come back on Wednesday, but by the afternoon stocks were far from session highs after the US confirmed its first case of an Omicron variant like Emily McCormick reports from Yahoo Finance.

Brian Suzy It is a comprehensive editor and Announcer at Yahoo Finance. Follow Suzy on Twitter Tweet embed and on LinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on TwitterAnd InstagramAnd YoutubeAnd Facebook social networking siteAnd Flipboard, And LinkedIn

Write a Comment