Invest in 60's | end of the quarter, what stock to buy

Views 415Nov 1, 2023

It's the end of quarter. Be mindful of rebalancing when fund managers sell top performers and buy underperformers. Here are the ASX and NYSE stocks to watch;

When the stock market moves, it can be volatile as investment managers are often bringing their portfolios into alignment; meaning taking profits from stocks that have done well. And buying into poorly performing companies, that show long-term promise.

So what are this quarter's best-performing stocks in the S&P500, that could see profit-taking? They include energy giants; Marathon Petroleum $$Marathon Petroleum (MPC.US)$$ , Phillips 66 $$Phillips 66 (PSX.US)$$ and Valero energy $$Valero Energy (VLO.US)$$ , all trading up 24%. While this quarter's worst performers include healthcare giants; ResMed $$ResMed (RMD.US)$$ , Dexcom $$DexCom (DXCM.US)$$ and Insulet $$Insulet (PODD.US)$$ , all trading 28% down.

What about in the ASX200? This quarter's best performers include energy companies; Paladin Energy $$Paladin Energy Ltd (PDN.AU)$$ , Karoon Energy $$Karoon Energy Ltd (KAR.AU)$$ , and New Hope $$New Hope Corp Ltd (NHC.AU)$$ all trading up 33%. While the ASX200's biggest losers include lithium miners such as Core Lithium $$Core Lithium Ltd (CXO.AU)$$ , Chalice Mining $$Chalice Mining Ltd (CHN.AU)$$ and Sayona Mining $$Sayona Mining Ltd (SYA.AU)$$, all trading down 45%.

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Author:

Jessica Amir | Moomoo Official Market Strategist

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