[Brave New Stock Leaders] Fronting the Charge as Recession Fears Ease

They'll lead the market, as traders regain their risk appetite. Picks from the Editor SPONSORED (Newsletter Continues Below) Sponsored [Multiply Your Money 15x with This Market-Beating Report!]( Are you tired of following the advice of the talking heads on TV, only to see your investments go nowhere? It's time to break away from the crowd and discover a proven strategy that defies market uncertainties.[Go HERE to see the Potential Investing Opportunity]( By clicking this link you are subscribing to The Market Genie Newsletter and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy. [Privacy Policy/Disclosures]( Five High-Performing Stocks to Lead the Way for 2H 2023  Hi Traders,  One cannot ignore the recent remarkable upswing in the U.S. equity markets. The S&P 500 and Nasdaq have been inching their way to 15-month highs like eager mountaineers eyeing a summit.  This ascent has been fueled by a robust economy, a healthy labor market, and a strong consumer base. Essentially, it's like the economy has been served a healthy protein shake of positive factors, and is walking strong.  The good vibes have spread to the Dow Jones Industrial Average as well, posting gains for a seventh straight session this Tuesday. It’s not often we see Dow Jones break into a little jig, but this has been the longest we've seen since March 2021.  Despite all the clamor about a potential U.S. recession being the guest of honor this year, the economy has displayed an impressive degree of resilience.  It’s almost as if it’s turned to the bearish economists and said, “Recession, who?”  The Atlanta Fed's GDP Now tracker predicts a growth rate of 2.4% in the second quarter, leaving its previous week's 2.3% prediction blushing.  In this flourishing economy, let's turn our gaze to five high-quality stocks, eager to lead the charge for the 2nd half of 2023/  First up, we have Home Depot. With a market cap of a whopping $318.5 Billion and a Year-To-Date performance sitting pretty at +0.3%, the retail giant has seen its shares rise by almost 10% since mid-April.   Home Depot seems to be banking on the resilience of the U.S. consumer, just like a trusty Labrador banks on its owner for treats. The largest home improvement retail chain in the U.S, it has an impressive portfolio of building materials, construction products, and services, kind of like a one-stop-shop for all your DIY needs.  Now, some might think the Home Depot stock is undervalued. This means the current Home Depot stock could see a cheeky upside of about 14%.  Next in line, we have Caterpillar. With a YTD performance of +10.1% and a market cap of $135.9 Billion, it's hard not to sit up and take notice.  This industrial giant is one of the world’s leading manufacturers of construction, mining, and energy equipment. Its shares have seen an uptick of more than 17% in the last three months, making its stock look more tempting than a plate of fresh cookies to an insatiable sweet tooth.  After that, we have American Express. I mean, who doesn't like a credit card giant with an attractive valuation, solid fundamentals, a proven profitable business model, and a heap of cash lying around, right? With a YTD performance of +20.5% and a market cap of $132.2 Billion.  But let’s not forget FedEx. Sporting a whopping YTD performance of +51.2% and a market cap of $64 Billion, FedEx is truly a heavyweight in the world of freight & logistics.  Lastly, let’s give a round of applause for Best Buy. With a market cap of $18.2 Billion and a YTD performance of +4.2%, it certainly does more than just sell tech gadgets. Best Buy's stock should continue its climb, thanks to the economy's tenacity and eased inflationary pressures.  In conclusion, Wall Street's recent jamboree is not without good reason. Strong economic indicators coupled with standout performers make the investment landscape seem more appealing than a sunny beach day after months of relentless winter.  And we may have just found the new leaders. Keep on keeping up!  John @ Traders on Trend  (In the next article: Banks have been suprisingly strong, despite the banking panic early this year. Scroll below to find out why! 👇) Sponsored [How He Bagged One Of The Top Trading Records…]( A reclusive millionaire has been quietly racking up winning trade after winning trade. Despite avoiding most headlines, he’s become one of the most successful traders around - over the last 8 years, he’s banked a 97% win rate. How does he do it? He sat down for a rare interview where he revealed it all.[Click HERE to see how he’s done it…]( [Privacy Policy/Disclosures]( Check the Free Presentation Today ☝ SPONSORED Defying Doom: Resilient Banks, Soaring Stocks, and Bank of America's Cash Pile  Imagine this: It's the end of the second quarter, and Bank of America Corp is sitting pretty with a significantly increased stash of cash on hand.  Why? Well, it seems they've been busy offloading some available-for-sale securities and strengthening their balance sheet. And it's not a moment too soon, given the recent turmoil in the US banking system triggered by the fall of Silicon Valley Bank.  It seems the collapses of Silicon Valley Bank and Signature Bank earlier in the year had quite an impact on Bank of America. Then came the demise of First Republic Bank in the second quarter, which no doubt left the bigwigs at Bank of America with a few more grey hairs.  Nevertheless, the bank came out the other side with a whopping $385.4 billion in cash and cash equivalents by the end of June, a substantial leap from the previous quarter's $230.5 billion and almost double the $178.3 billion from the same time last year.  Unlike its unfortunate peers, Bank of America dodged the mass exodus of deposits, thanks to the banking system regaining some stability in May and June.  The result?  Their second-quarter performance ended up being quite the showstopper, and they weren't the only ones to outperform. Updates from JPMorgan Chase & Co, Morgan Stanley, Citigroup Inc, and Wells Fargo & Co also suggested a brighter horizon for the banking industry.  (article continues below) Sponsored [Unlock a 15x ROI with Alternative Energy Investment]( Are you searching for a lucrative investment opportunity in today's unpredictable market? We have the perfect solution for you: the alternative energy sector, promising an incredible 15x return on investment.[Go HERE to see the Potential Investing Opportunity]( By clicking the link you are subscribing to The Premium Market News Newsletter and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy. [Privacy Policy/Disclosures]( SPONSORED  🔼 Pay attention, this is worth your time! ☝  (article continues)  We have Goldman Sachs Group Inc. stepping up to the plate with earnings announcements this Wednesday. Eyes will undoubtedly be keenly focused on the result.  In the meantime, stocks in all these banks got a pleasant lift on Tuesday. The market's reaction was not just tied to the results of the second quarter, but also due to rumors that the economy might just stick the landing and that the banking industry might maintain its momentum for the rest of 2023.  Bank ETFs also benefited from this positive sentiment, rising despite a weakening economy and the lingering impact of the regional banking crisis.  There were other winners too, like PNC Financial Services Group Inc, which saw a rise of around 2%, even though they didn't quite hit their revenue target.  Meanwhile, Charles Schwab Corp. had a bit of a party, celebrating its biggest single-day gain in over three years. Not only did they exceed profit predictions, but they also amassed $52 billion in core net new assets for the quarter, pushing their total for the year past the $180 billion mark.  Despite challenges in the form of interest rates and the fight for deposits, firms like Morgan Stanley stayed strong in the wealth-management business. And while the banks were keeping afloat, the US consumer was still spending, further bolstering the financial institutions.  To quote David Donovan, executive vice president of financial services at Publicis Sapient, "banks had a good quarter, benefiting from higher interest rates".  Bank of America, among others, had robust numbers thanks to higher net interest margins and substantial consumer and deposit bases.  The consumer also seemed to weather the storm, demonstrating healthy loan growth and manageable credit card debt, despite the rising popularity of higher-paying alternatives like Apple Card and neo banks.  In a smart move, Bank of America has been shifting assets into cash and has parked an impressive sum at the U.S. Federal Reserve. This strategy, set out in the first quarter, allowed the bank to be prepared for the uncertain times that followed.  Overall, while some aspects of the banking industry showed a slowdown, other areas experienced growth.  As we move forward, some challenges lie ahead, like the rising cost of deposits for banks, consumers' ability to maintain loan growth, and the quest for higher yields in alternative financial entities.  But for now, we can take a moment to appreciate the resilience of these banking giants amidst a turbulent time.  Disclaimer:  The material in this document is for informational purposes based on our proprietary research. It is not an offering, specific recommendation, or a solicitation of an offer to buy or sell any securities mentioned or discussed herein.  Any performance results discussed herein represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.  Due to the timing of information presented, any investment performance reflected within this document may be adjusted after the publication and distribution of this material. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, be equal to any corresponding indicated historical performance levels or be suitable for your portfolio.  Any investment results set forth in this document are not net of expenses and execution costs, nor do they account for other relevant trading or investment fees. 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