3 Momentum Stocks to Buy into the End of the Year

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However, Goldman Sachs Group Inc. (NYSE:GS) analysts expect the benchmarks to cool off late this year, rising by a modest 9% through year’s end 2022 due to decelerating economic growth and the cessation of fed monetary support. The equity benchmarks’ record rally amid expectations of tightening fed policy and inflation is raising concerns about market volatility. So, in this environment, we think it might be wise to bet on stocks that have gained momentum and have the potential to maintain it irrespective of market conditions.

Investors’ interest in momentum stocks is evidenced by the SPDR Russell 1000 Momentum Focus ETF’s (NYSE:ONEO) 32.1% gains over the past year, and 5.4% returns over the past month. Shares of Canadian Natural Resources Limited (CNQ), Signet Jewelers Limited (SIG), and Covenant Logistics Group, Inc. (CVLG) have gained significant momentum lately, which they have the potential to maintain, dodging the market’s volatility. Thus, we think these stocks could be solid additions to one’s portfolio for the rest of the year.

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