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Wall Street’s major indices closed June with notable gains: the Dow, S&P 500, and Nasdaq Composite rose by 4%, 5%, and 6%, respectively. Investor optimism was fueled by hopes for trade deals, a ceasefire in the Middle East, and anticipated interest rate cuts in 2025. Economic indicators also supported this trend, with June’s ISM manufacturing and services PMI data exceeding expectations and a significant increase in factory orders.
The labor market showed resilience as June job additions outperformed consensus estimates, leading to a drop in the unemployment rate from 4.2% in May to 4.1%. The upward revision of job counts for May and April by 11,000 further diminished recession fears.
For July, five growth stocks have been highlighted: AppLovin Corp. (APP) expects a revenue growth rate of 16% and earnings growth of 85.2%; Intuit Inc. (INTU) anticipates 11.7% revenue and 13.7% earnings growth; monday.com Ltd. (MNDY) predicts 25.6% revenue and 8.3% earnings growth; Credo Technology Group (CRDO) forecasts an astonishing 85.8% revenue growth and over 100% earnings growth; and Gold Fields Ltd. (GFI) projects 71% revenue growth and 93.9% earnings growth for the year.
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