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3 Top Stocks with Strong Growth Potential

3 Top Stocks with Strong Growth Potential

The U.S economy could grow significantly in the near term, driven by potential multi-trillion-dollar government infrastructure spending and a continuing low-interest-rate environment. Therefore, we think the shares of Steel Dynamics (NASDAQ:STLD), Exelixis (NASDAQ:EXEL), and Conn’s, Inc. (CONN), which possess solid growth attributes, could be the right picks now. Read on.President Biden’s ambitious multi-trillion-dollar infrastructure spending plan is getting closer to becoming a reality. “There was universal agreement in that room that we have to come to an agreement, and we want to get it done this week,” said Senate Majority Leader Chuck Schumer, commenting on the status of the pending bill. If passed, the massive federal spending it includes should boost the economy as a whole.

In addition, jobless claims are declining significantly. Weekly jobless claims have hit a pandemic-era low for two straight weeks. Furthermore, the unemployment rate had fallen 10 percentage points from its peak in April last year. The U.S labor market is gradually edging closer to its pre-pandemic level.

And the stock market has been performing well, with the S&P and the Dow Jones gaining more than 5% for the month and rallying to fresh highs last week. Given this backdrop, we believe stocks with strong growth potential, Steel Dynamics, Inc. (STLD), Exelixis, Inc. (EXEL), and Conn’s, Inc. (NASDAQ:CONN), could be ideal bets now.

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