It can be tough to gauge the current stock market. Growth stocks have come down massively from their highs, energy stocks have sought a return to glory, and defensive stocks are again in vogue. Inflation is soaring to levels not seen in 40 years and has proven to be much more than transitory. The geopolitical situation adds another unpredictable stressor to investors' minds.
Despite all this news, the Dow Jones Industrial Average remains above 34,000, and the Nasdaq is hovering around the 14,000 level for now. And while short-term swings are unpredictable, these three companies are set up for long-term success.
Perhaps the most significant economic factor currently is inflation. The rate reached 8.5% year over year in March although there were a few small, positive indicators. Fuel and food costs predictably continued to rise while used vehicles saw a slight decrease. Inflation could have positive and negative effects on O'Reilly Automotive (NASDAQ: ORLY) , but the long-term outlook is solidly positive.
For further details see:
3 Stocks to Buy Before They Take Off