Banking, finance, and taxes
RBC Says Buy Any Pullbacks: Market Still Going Higher
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If there is one thing that is clearly evident on Wall Street this year, it is that there is some very divergent thought among the major firms we cover. Some are still very bearish and suggest selling every rally immediately. Others are far more positive and point to the basically solid economic news that continues to come out. With the dollar’s strength really abating and the economy growing, albeit slowly, one company we cover is staying positive on the current market.
In a new report, Robert Sluymer and his outstanding team at RBC make the case that history tells us that declines in secular bull markets like we have seen twice in the past nine months are shallow, and the rebounds are often very powerful and sustained. The report also points to the continuing dollar weakness as a positive for stocks, especially cyclicals, some of which have a large percentage of sales outside the United States. Most importantly, they say not to sell but to add shares on dips.
The analysts point to numerous sectors in their report, and the stocks that looked good. We found three financial companies that look good now. They combine solid fundamentals with outstanding technical patterns.
Aon
This top financial stock has been on a roll since February, and it looks poised to move higher. Aon PLC (NYSE: AON) provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments.
The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors’ and officers’ liability, workers’ compensation, and various health care products; and health and benefits consulting services comprising structuring, funding and administering employee benefit programs.
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