Market Pessimism Returns, 3 Stocks to Buy While Others Are Fearful
Stocks have taken a bumpy ride this year. The S&P 500 was in a free fall for the first six months of 2022, tumbling about 24% from peak to trough on fears that rising interest rates to combat inflation could cause a recession. While falling gasoline prices over the summer provided some hope inflation was starting to cool -- sending the S&P 500 up 15% from its bottom -- new data showing inflation hasn't peaked caused a renewed sense of pessimism. That has pushed the market back toward its lows.
With the market growing fearful again, our contributors think that some stocks are starting to look like great bargains. Three stocks they believe to be attractive long-term investments are Rockwell Automation (NYSE: ROK), Enbridge (NYSE: ENB), and Ford (NYSE: F). Here's why they think investors should look past the current pessimism and buy these stocks.
Reuben Gregg Brewer (Rockwell Automation): Wall Street has a terrible habit of throwing the baby out with the bathwater during bear markets, when the emotion of fear is driving the show. That's something to consider when looking at Rockwell Automation and the 30% drubbing its shares have taken so far in 2022. The key here is to step back and look at the big picture.
Source Fool.com
