Top Stocks: 10 Best Performing S&P 500 Stocks Going Into FOMC Minutes Release

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(By Alexander Crawford. Data sourced from Finviz.)

A new plan for monetary easing may soon be approaching. Tomorrow will see another FOMC minutes release from the Federal Reserve, but this time, a majority of analysts expect a monetary easing program to be announced, according to a Bloomberg survey.

71% of 42 economists surveyed believe the FOMC (Federal Open Market Committee) will replace short-term Treasuries with long-term Treasuries in the Fed’s $1.65 trillion portfolio, a move being dubbed “Operation Twist.” However 61% of surveyed economists said it would probably fail to reduce the 9.1% unemployment rate. 15% even said it would be “somewhat harmful.”

Chief U.S. economist for JPMorgan Michael Feroli expects the Fed will swap $300-400 billion in 1 to 3-year Treasuries for 7 to 12-year Treasuries, reducing longer-term yields by about 0.1%.

“It’s better than nothing but it’s obviously not going to be a knockout blow or a game changer for the economy,” Feroli said.

Also according to the Bloomberg survey, most economists don’t expect the Fed to announce a new plan of asset purchases, or “quantitative easing.” And no economists surveyed expect the Fed to announce an “an explicit target for the unemployment rate and inflation rate as conditions for keeping the benchmark fed funds rate near zero.”

For a look at which stocks are outperforming leading up to the FOMC minutes release, we ran a screen on the S&P 500 for stocks with the best weekly performance through Tuesday.

Do you think these stocks will continue to do well after the FOMC announcement?

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1. Goodrich Corp. (GR): Supplies aerospace components, systems, and services primarily in the United States, Canada, Europe, and the Asia Pacific. Market cap of $13.98B. The stock is up 31.68% for the week. Exhibiting strong upside momentum--currently trading 28.19% above its SMA20, 25.38% above its SMA50, and 27.04% above its SMA200.

2. Textron Inc. (TXT): Operates in the aircraft, defense, automobile, industrial, and finance businesses worldwide. Market cap of $4.88B. The stock is up 11.75% for the week. This is a risky stock that is significantly more volatile than the overall market (beta = 2.8). Might be undervalued at current levels, with a PEG ratio at 0.71, and P/FCF ratio at 8.47.

3. eBay Inc. (EBAY): Provides online marketplaces for the sale of goods and services, as well as other online commerce, platforms, and online payment solutions to individuals and businesses in the United States and internationally. Market cap of $42.18B. The stock is up 11.33% for the week.

4. The TJX Companies, Inc. (TJX): Operates as an off-price apparel and home fashions retailer in the United States and internationally. Market cap of $22.19B. The stock is up 10.58% for the week.

5. Rockwell Collins Inc. (COL): Engages in the design, production, and support of communications and aviation electronics for commercial and military customers worldwide. Market cap of $8.28B. The stock is up 10.50% for the week.

6. ProLogis (PLD): An independent equity real estate investment trust. Market cap of $12.98B. The stock is up 10.30% for the week.

7. Polo Ralph Lauren Corp. (RL): Engages in the design, marketing, and distribution of lifestyle products. Market cap of $14.03B. The stock is up 9.59% for the week. Exhibiting strong upside momentum--currently trading 11.47% above its SMA20, 13.44% above its SMA50, and 22.08% above its SMA200.

8. Tyco International Ltd. (TYC): Provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products to customers worldwide. Market cap of $20.92B. The stock is up 9.16% for the week.

9. The McGraw-Hill Companies, Inc. (MHP): Provides various information services for financial, educational, and business information markets worldwide. Market cap of $13.63B. The stock is up 9.04% for the week. Exhibiting strong upside momentum--currently trading 9.42% above its SMA20, 10.12% above its SMA50, and 15.6% above its SMA200.

10. Newmont Mining Corp. (NEM): Engages in the acquisition, exploration, and production of gold and copper properties. Market cap of $37.99B. The stock is up 8.76% for the week. Exhibiting strong upside momentum--currently trading 10.31% above its SMA20, 17.59% above its SMA50, and 23.76% above its SMA200.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks


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