The fourth quarter is just getting started, and RBC Capital Markets sees some stocks slated for growth in the months ahead. October has been off to a shaky start. While the first session of the month was a losing one for stocks, that changed on October's second day of trading, with the indexes closing marginally higher.
All three major averages are still in the red week to date, however. This comes after September marked the fifth straight winning month for both the S & P 500 and the Dow Jones Industrial Average . Looking ahead, RBC unveiled a list of its top 30 high-conviction global stock ideas that it thinks are poised to outperform in the long term.
Since the list's inception in 2019, it has delivered a total return of nearly 92%, according to the firm. That's above its benchmark, which is at 70%. A few key names were added and removed from this quarter's list.
Pinterest and Sarepta Therapeutics were among the eight additions, while Amazon , Chubb and S & P Global were among the seven removals. Here are some of the names on the list. For newly added Pinterest, RBC believes recent changes at the company – such as its partnership with Amazon to bring third-party ads to the platform and the incorporation of direct links – may increase advertising relevance on the platform and ultimately lead to greater return on ad spend for advertisers.
"While it's unclear whether these changes will be a tailwind to U.S. [monthly active users], we think the current user base is undermon.
