It took only less than a month for the S&P 500 to cross 1000 points. In mid-December, the key U.S. index S&P 500 crossed the 3,200-mark for the first time, powered by a Santa rally. And the very index touched the 3,300-threshhold on Jan 16, helped by the tech rally, solid retail sales data, upbeat quarterly earnings as well as the signing of the phase-one U.S.-China trade deal (read: Phase-One Trade Deal to Boost These ETF Areas).
The year 2019 was extremely rewarding for Wall Street with the key equity S&P 500 gauge returning about 29%. Though the start of 2020 was not smooth for the market thanks to the rise in geopolitical tension in the Middle East, the index is up 1.8% so far. Apart from the signing of the phase-one U.S.-China and USMCA trade deals, global policy easing has been an added tailwind (read: Play 5 Long/Short ETFs to Bypass Middle East Tensions).
Though the projections for fourth-quarter U.S. economic growth have been subdued, investors probably took it as a continuation of the easy money policy by the Fed in 2020 and gave a push to the stock market. Notably, Atlanta Federal Reserve cut its fourth-quarter economic-growth estimate to below 2%. The New York Fed Staff Nowcast stood at 1.1% for the fourth quarter and 1.2% for the first quarter of 2020 as of Jan 10.
Against this backdrop, it would be intriguing to highlight the best-performing stocks of the SPDR S&P 500 ETF Trust SPY in the past one month that helped the index gain 1000 points.
Apache Corporation APA – Up 47.5%
The Zacks Rank #3 (Hold) company is one of the world's leading independent energy companies engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The stock belongs to a favorable Zacks industry (placed at the top 20% of 250+ industries).
Occidental Petroleum Corporation OXY – Up 22.2%
The Zacks Rank #3 stock is an integrated oil and gas company, with significant exploration and production exposure. The stock comes from a favorable Zacks industry (top 16%).
Mylan N.V. MYL – Up 16.9%
The Zacks Rank #2 (Buy) company is a global pharmaceutical company with a well-established generics business as well as presence in specialty pharmaceuticals. The stock hails from a favorable Zacks industry (top 44%).
Albemarle Corporation ALB – Up 16.3%
It is a premier specialty chemicals company with leading positions in attractive end markets globally. The stock has a Zacks Rank #3.
Live Nation Entertainment Inc. LYV – Up 16.0%
The Zacks Rank #2 is the world's premier live entertainment company, consisting of Live Nation, Ticketmaster and Front-Line Management Group.
Advanced Micro Devices Inc. AMD) –Up 14.76%
The Zacks Rank #3 company provides microprocessors (x86-based), chipsets, discrete graphics processing units (GPUs) and professional graphics. The stock belongs to a favorable Zacks industry (top 14%).
IDEXX Laboratories Inc. IDXX – Up 13.9%
The Zacks Rank #3 company is a developer, manufacturer and distributer of products and services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets.
McKesson Corporation MCK – Up 12.4%
It is a health care services and information technology company. It has a Zacks Rank #2 and hails from a favorable Zacks industry (top 43%).
Northrop Grumman Corporation NOC – Up 12.3%
The Zacks Rank #3 global security company supplies a broad array of products and services to the U.S. Department of Defense (DoD), including electronic systems, information technology, aircraft, space technology and systems integration services. The stock comes from a favorable Zacks industry (top 44%).
salesforce.com inc. CRM – Up 12.1%
It is the leading provider of on-demand Customer Relationship Management (CRM) software. It has a Zacks Rank #3. It comes from a favorable Zacks industry (top 35%).
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Click to get this free report Northrop Grumman Corporation (NOC) : Free Stock Analysis Report Albemarle Corporation (ALB) : Free Stock Analysis Report salesforce.com, inc. (CRM) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report Mylan N.V. (MYL) : Free Stock Analysis Report Apache Corporation (APA) : Free Stock Analysis Report Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report McKesson Corporation (MCK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report