Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Laboratory Corp. Of America Hl (LH); Micron Technology Inc. (MU); Oracle Corp. (ORCL); Invesco Ltd (IVZ) and the Focus List deletions are Advanced Micro Devices Inc. (AMD); American Express Co. (AXP); Crowdstrike Holdings Inc (CRWD); Unitedhealth Group Inc (UNH).

Inflation Taps the Market on the Shoulder

Stock indices dipped in October 2023, with the S&P 500 falling a sharp 10% off summer highs. Looking at 13F filings of big institutional portfolios, we see that the big guns were busy last quarter taking advantage of that dip. Citadel Advisors went on a buying spree, adding to its $100 billion portfolio across a range of sectors. As did D.E. Shaw, adding to its $67 billion portfolio. Vickers Stock Research, a subsidiary of Argus Research Group, analyzes insider trading and institutional stock ownership. Form 13-Fs, which institutions must file to report their holdings, are due 45 days after the end of calendar quarters and have come in for 4Q24. We review 13Fs of major activists to determine core holdings and new purchases. Activist investing is now less about generating a short-term return and more about achieving long-term returns through an active management/investor partnership. Based on data from Vickers, here are some recent new purchases and key holdings of activist investors, as well as other high-profile money managers.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks rallied Thursday after Wednesday's selloff. The Conference Board's Leading Economic Index (LEI) fell 0.5% in November - matching expectations. This follows a 1.0% decline in October. The housing market and labor indicators weakened while new manufacturing orders held steady, pointing to stagnating growth. The Dow rose 0.9%, the S&P 500 gained 1.0% and the Nasdaq was up 1.3%. Crude oil traded near $74 per barrel, while gold rose $10 to $2058 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks edged up on Thursday. Pending home sales fell nationwide by an average of 7.1% in August. Elevated mortgage rates, which reached a 23-year high this week, continue to keep most homeowners from relocating, thus reducing available inventory for prospective buyers. Turning to stocks, shares of Peloton Interactive (PTON) popped today on the announcement of a five-year partnership with Lululemon Athletica (LULU). Jabil Inc. (JBL) soared 19% after the contract manufacturer exceeded consensus non-GAAP EPS expectations for fiscal 4Q23 and provided above-consensus EPS guidance for fiscal 1Q24. The Dow rose 0.4%, the S&P 0.6%, and the Nasdaq 0.8%. Crude oil fell 1% to $91.80 per barrel, while gold traded fell to $1883 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks were mostly higher on Thursday as investors weighed new GDP, housing market, and employment data. The Commerce Department said that the U.S. economy expanded at a 2.0% annualized rate in the first quarter, up from its prior estimate of 1.3% growth and above the consensus forecast. Housing market data was weaker than expected. The National Association of Realtors said that its pending home sales index fell 2.7% to 76.5 in May. The reading was the lowest since December and below the Bloomberg consensus, which called for a decline of 0.5%. Meanwhile, weekly employment data pointed to a still strong labor market. First-time claims for state unemployment benefits fell to 239,000, down from the prior week and below the consensus forecast of 265,000. Continuing claims also fell slightly to 1.742 million. The Dow rose 0.80%, the S&P rose 0.45%, and the Nasdaq was unchanged. Crude oil traded just below $70 per barrel, while gold fell $6 to $1916 per ounce.

Stocks rose on Wednesday morning, led by the Technology and Real Estate sectors, as investors weighed new housing market data and earnings reports from Micron Technology and Lululemon. The National Association of Realtors said that its pending home sales index rose 0.8% in February, the third straight monthly increase. The Reuters consensus had called for a decline of 2.3%. On the earnings front, Micron Technology rose 5%, despite weak fiscal 2Q results, on optimism about growing demand for memory for artificial intelligence applications. Lululemon shares also rose 14% following strong fiscal 4Q results and positive guidance. The Dow rose 0.5%, the S&P 0.8%, and the Nasdaq 1.0%. Crude oil traded near $73.50 per barrel, while gold fell $2 to $1971 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

To have been bearish in 2022 certainly would have served one well. Corporate insiders normally sell shares more often than they buy shares, and did that pretty much all year - with notable buying jags that aligned with market lows. The buying resulted in nice-but-brief outperformance, which is a good thing. But insiders never sold at levels that suggested broad-based concern. With the year-to-date data as of this writing showing the DJIA down 9%, the S&P 500 off 19%, and the Nasdaq lower by 33%, we can't fault those who say insiders missed the mark in 2022.

Monday Tee Up: Inflation, Inflation, Inflation

Stocks fell sharply on Tuesday morning amid continued inflation and recession fears as investors refocused after the holiday weekend. Tesla shares fell more than 3% after the automaker reported a sharp decline in 2Q vehicle deliveries, citing a range of supply-chain disruptions. The Dow fell 2.0%, the S&P 1.5%, and the Nasdaq 1.0%. Crude oil fell 4% to $104 per barrel, while gold dropped $28 to $1773 per ounce.

Stocks fell on Wednesday morning, giving back some of their recent gains as investors weighed new GDP and employment data. The Commerce Department said that the U.S. economy expanded at a 6.9% annualized rate in 4Q, down from its prior estimate of 7.0% growth and below the Reuters consensus forecast of 7.1%. Payroll provider ADP said that U.S. private employers added 455,000 payroll jobs in March, down from a revised 486,000 in February but slightly above the consensus forecast of 450,000. The Dow fell 0.1%, the S&P 0.5%, and the Nasdaq 0.7%. Crude oil rose 4% to $108.50 per barrel, while gold rose $21 to $1939 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The stock market is stumbling like a reveler exiting a company holiday party (remember those from pre-COVID times?). In the final full trading week of 2021, the S&P 500 slipped 1.94%; the Dow Industrials dropped 1.68%; and the Nasdaq crashed 2.95%. Predictably, growth stocks in the Nasdaq were hit hardest during a week in which the Fed doubled down on its QE taper and laid out its rate-hike timeline for 2022.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks were mixed on Thursday morning as investors await action by Congress to avoid a government shutdown at midnight. On the employment front, the Labor Department said that first-time claims for state unemployment benefits rose to 362,000 for the week ended September 25, up from 351,000 a week earlier and above the consensus forecast of 330,000. The Dow fell 0.6%, the S&P fell 0.2%, and the Nasdaq rose 0.3%. Crude oil rose to more than $75 per barrel, while gold jumped $40 to $1763 per ounce.

The Technology sector started slowly in 2021 as investors focused on value stocks. But the sector has come on strong in recent months (up 22% year-to-date) and now is outperforming the market (up 20.7%) as well as value sectors such as Consumer Staples (+8%), Utilities (+10%), Materials (+17%), and Industrials (+18%). The sector is the largest in the U.S. market and now accounts for more than 28% of the S&P 500. Over the long term, we expect the sector to benefit from pervasive digitization across the economy, greater acceptance of transformative technologies, and the development of the Internet of Things (IoT). Healthy company and sector fundamentals are also positive. For individual companies, these include high cash levels, low debt, and broad international business exposure. We have an Over-Weight ranking on the Tech sector and think investors should look to allocate up to 30% of their diversified portfolios to the group. Here is how we use our analysts' Tech sector ideas in our Focus List and Model Portfolios.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks rose modestly on Thursday morning following new weekly employment data. The Labor Department said that first-time claims for state unemployment benefits fell to 364,000 for the week ended June 26, down from 415,000 a week earlier and below the Bloomberg consensus of 388,000. On the earnings front, Walgreen shares fell despite stronger-than-expected fiscal 3Q results and an increase in management's full-year earnings forecast. The Dow rose 0.2%, the S&P rose 0.3%, and the Nasdaq was flat. Crude oil rose more than 2% to $75 per barrel, while gold traded near $1777 per ounce.

The S&P 500 rallied in March to finish with a 4.2% gain, but it was not straightforward. The ongoing sector shift helped keep investors in the blue chip equity market even as they were ditching last year's stalwarts. Fan-favorite Amazon, for instance, is down 3% year-to-date, while Tesla is down 6%. Long-neglected Energy and Financial Services stocks are out in front, with first-quarter sector gains of 33% and 14%, respectively. Growth-centric sectors Consumer Discretionary and Technology showed late-March strength, however, and are each up about 5% year-to-date.

Stocks rose on Thursday morning on optimism about the Biden administration's $2 trillion infrastructure plan, despite concerns about higher taxes and clear opposition to the plan from House and Senate Republicans. Manufacturing data was strong. The Institute for Supply Management said that its national factory index rose to 64.7 in March from 60.8 in February. The reading topped the Reuters consensus forecast of 61.3 and was the strongest since December 1983. On the employment front, the Labor Department said that first-time claims for state unemployment benefits rose to 719,000 for the week ended March 27, up from 658,000 a week earlier and above the Bloomberg consensus forecast of 675,000. Continuing claims of 3.794 million also exceeded the consensus forecast, but were down from 3.87 million a week earlier. The Dow rose 0.3%, the S&P 0.8%, and the Nasdaq 1.5%. Crude oil rose slightly to $60 per barrel, while gold traded near $1730 per ounce.

Blue Chips finished last week with more selling, although the hardest-hit part of the market (Nasdaq growth stocks) staged a feeble rebound on Friday. The market is not in freefall, but the S&P 500 is down 3.2% from its all-time high of 3,935 reached on 2/12/21. Pullbacks and corrections are commonplace, but this one feels different because of the trend in long rates. Still, investors always say "this one feels different" until it's forgotten in the next pullback.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The stock market rose last week, touching fresh highs in spite of unrest in our country's capital. Tech stocks outperformed blue chips as investors favored growth stocks. During Friday's session, the Dow Jones Industrial Average rose 57 points, or 0.18%. The S&P 500 was up 0.55%, and the Nasdaq Composite increased 1.03%. For the week, the DJIA increased 491 points, or 1.61%, the S&P 500 increased 1.83%, and the Nasdaq Composite rose 2.43%.

The stock market rose last week, touching fresh highs in spite of unrest in our country's capital. Tech stocks outperformed blue chips as investors favored growth stocks. During Friday's session, the Dow Jones Industrial Average rose 57 points, or 0.18%. The S&P 500 was up 0.55%, and the Nasdaq Composite increased 1.03%. For the week, the DJIA increased 491 points, or 1.61%, the S&P 500 increased 1.83%, and the Nasdaq Composite rose 2.43%.

Stocks finished mixed on Thursday, giving up some of their earlier gains on news that Pfizer was facing supply-chain issues with its coronavirus vaccine. The Wall Street Journal reported that the company now expected to ship 50 million, rather than 100 million doses by the end of the year. On the employment front, first-time unemployment benefit claims fell from the prior week to 712,000, below the consensus forecast of 775,000 and the first decline in three weeks. Continuing claims, reported with a one-week lag, fell to 5.52 million, also below the consensus estimate - though the decline may reflect workers who have exhausted state benefits and moved to other federal programs. The data came ahead of the government's November employment report on Friday morning. The Reuters consensus calls for the addition of 486,000 new payroll jobs, down from 638,000 in October. The Dow rose 0.29%, the S&P fell 0.06%, and the Nasdaq rose 0.23%. Crude oil rose to more than $45 per barrel, while gold rose $14 to $1845 per ounce.

Today marks the final trading day of the month, and barring the selloff of all selloffs, November will go down as a terrific month for the stock market. With an 11.4% gain heading into this morning's trading, November is the best month on the S&P 500 since...April, when the index was up 12.7%. In this unprecedented year, you do not have to go back very far to find a blowout month.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks rose strongly on Wednesday morning as investors weighed the impact of Tuesday's presidential debate along with new economic data. The Commerce Department said that the U.S. economy contracted at a 31.4% rate in the second quarter, close to its previous estimate of 31.7%. On the employment front, payroll provider ADP said that U.S. companies created 749,000 jobs in September, up from 481,000 in August and above the Reuters consensus forecast of 650,000. Housing market data was also strong. The National Association of Realtors reported that pending home sales in August rose 8.8% from July, above the consensus forecast of 3.1% growth, and jumped 24.2% from August 2019. The Dow rose 1.4%, the S&P 1.1%, and the Nasdaq 1.3%. Crude oil traded near $40 per barrel, while gold fell $5 to $1899 per ounce.

Stocks rose strongly on Wednesday morning as investors weighed the impact of Tuesday's presidential debate along with new economic data. The Commerce Department said that the U.S. economy contracted at a 31.4% rate in the second quarter, close to its previous estimate of 31.7%. On the employment front, payroll provider ADP said that U.S. companies created 749,000 jobs in September, up from 481,000 in August and above the Reuters consensus forecast of 650,000. Housing market data was also strong. The National Association of Realtors reported that pending home sales in August rose 8.8% from July, above the consensus forecast of 3.1% growth, and jumped 24.2% from August 2019. The Dow rose 1.4%, the S&P 1.1%, and the Nasdaq 1.3%. Crude oil traded near $40 per barrel, while gold fell $5 to $1899 per ounce.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

The three largest states (California, Texas and Florida) all took steps backward in the reopening process, and that sent markets skidding lower in the trading week ended June 26. As many as 30 states are seeing peak new daily infections, suggesting that the masks came off too soon or, in some cases, were never put on. The following trading session (Monday, June 29), stocks fought back. The market is plainly dancing to the pandemic's tune.