If you love tech stocks, this hasn’t been your year. But that doesn’t mean you shouldn’t be looking at the top tech stocks to buy for the fourth quarter. Yeah, the sector is taking a beating, and that’s best reflected in some of the major exchange traded funds that hold tech stocks. The Technology Select Sector SPDR Fund (NYSEARCA: XLK ) is down 28% so far this year. The Invesco QQQ ETF (NASDAQ: QQQ ) suffered a similar fate, down 29%. And the much-vaunted ARK Innovation ETF (NYSEARCA: ARKK ) dropped a whopping 57%. Much of the blame rests on the economy – inflation is at its highest since the 1980s and the Federal Reserve is doggedly raising interest rates in an effort to force prices down – even at the risk of running the economy into a recession. The sector recently had its worst two-week stretch since the beginning of the Covid-19 pandemic as the Fed hiked rates by another three-quarters of a percentage point. On top of that, tech companies that rely heavily on imports are being hurt by a stronger U.S. dollar because U.S. products are more expensive overseas.
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Automatic Data Processing is a Dividend Champion and currently yields 1.81%. Read more to see its dividend safety and why I''m waiting on the sidelines for now.
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Automatic Data Processing saw its IBD SmartSelect Composite Rating rise to 96 Monday, up from 94 the day before.
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London Hedge Fund Winton Hunts for Crypto Hire (Financial News) Winton Group, the London hedge fund set up by billionaire quant investor David Harding, is on the hunt for specialist crypto expertise, in a hint it will join other heavyweight investors looking to gain a foothold in the fast-growing digital assets market. The firm, which […]
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Automatic Data Processing Inc. (ADP)’s stock has witnessed a price declined of -0.44% from the previous close with its current price standing at $244.87. Its current price is -6.39% under its 52-week high of $261.59 and 27.36% more than its 52-week low of $192.26. Based on the past 30-day period, the stock price is -6.36% […]
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As they lagged expectations, tech stocks have been one of the biggest stories of the stock market for the last few months. But have you noticed that tech is starting to finally turn around? The Investo QQQ ETF (NASDAQ: QQQ ) which tracks tech stocks is down 19% so far in 2022, but it’s gained more than 16% over the last two months. The Technology Select Sector SPDR Fund (NYSEARCA: XLK ) dropped 13% since Jan. 1, but gained 16.6% in the last two months. Tech stocks have long been a reliable source of solid returns and can be great momentum plays in good times. Now that tech is threatening to return to its winning ways, this may be an outstanding time to pick up A-rated tech stocks for the long term. Here are seven for buy-and-hold investors. BCOR Blucora $23.11 EXLS ExlService Holdings $178.44 SWCH Switch $34.02 KBR KBR $52.49 PDFS PDF Solutions $27.28 QLYS Qualys $155.57 PSN Parsons Corporation $42.62 Blucora (BCOR) Source: Shutterstock Perhaps nothing creates more anxiety for the general population every quarter and every year like taxes.
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Wall Street has had no shortage of gloomy headlines in recent weeks. And recently, JPMorgan Chase (NYSE: JPM ) CEO Jamie Dimon warned of an economic hurricane looming. In turn, he suggested investors should brace themselves even though things seem fine for the time being. Similar dire remarks came from John Waldron , President and COO of Goldman Sachs (NYSE: GS ), and Elon Musk , CEO of Tesla (NASDAQ: TSLA ), in early June. Additionally, the World Bank recently underscored the threat of high inflation and low growth — the so-called stagflation. “The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” World Bank President David Malpass said. Meanwhile, U.S. inflation hitting a 40-year high has sent the stock market into a tailspin. According to the Bureau of Labor Statistics (BIS), inflation soared 8.6% in May from 8.3% a month before. Also, the S&P 500 index has lost around 8.8% since the start of June, pushing the losses to almost 21% year-to-date (YTD).
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