2023-07-27 09:29:00 ET
The S&P 500 (SNPINDEX: ^GSPC) is up 18% year to date, but strategists at Goldman Sachs , Yardeni Research, and Capital Economics believe the benchmark index is headed higher in the coming quarters. Their upbeat forecasts imply upside ranging from 4% to 21% over the next 18 months, reflecting a positive shift in market sentiment brought on by cooling inflation and stronger-than-expected economic growth.
Here are two unique growth stocks to buy now.
Etsy (NASDAQ: ETSY) reported mixed financial results in the first quarter. Gross merchandise sales declined 5% to $3.1 billion as elevated inflation dragged on consumer spending. Yet, revenue jumped 11% to $640 million, an acceleration from 5% growth in the prior year, as Etsy flexed its pricing power by raising transaction fees. But earnings still fell 40% to $0.60 per diluted share as operating costs swelled due to ongoing product development initiatives.
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Wall Street Says the S&P 500 Is Headed Higher: 2 Unique Growth Stocks to Buy Now and Hold