The Sentiment is Bullish on Wall Street

Earn While You Learn! ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!]( Hello investor, The Sentiment is Bullish on Wall Street Wall Street is turning bullish again. How bullish? Well, year-end targets from Goldman Sachs and Morgan Stanley projected an about 11.7% gain for the S&P 500. Believe it or not, it is also the index’s average full-year gain since 1928. Scott Rubner at Goldman Sachs believes the retail euphoria and the increased corporate buybacks may drive the rally over the next few days. The sentiment has jumped since Donald Trump’s pick of Scott Bessent for the Treasury Secretary position, as Bessent is viewed as someone who will dial back some of Trump’s aggressive policies that may reignite inflation. Although Bessent supports Trump’s tariff plans and wants to extend the president-elect’s tax cuts, Bessent is known as a talented macro investor and may prioritize keeping the economy in good shape. - “Investors are viewing this nomination as one that will provide a Goldilocks scenario for Mr. Trump’s pro-business proposals,” said Matt Maley at Miller Tabak + Co. At the same time, inflation remains a problem. The personal consumption expenditures (the Fed’s preferred price gauge) is due to be out this week. The core PCE is projected to rise 0.3% in October from the prior month and to increase by 2.8% from a year earlier. It would be the biggest advance since April and represent an acceleration from the previous reading. (Source: Bloomberg) If inflation accelerates, it may be tough for the Federal Reserve to justify a rate cut during its December meeting. Valuations are also elevated in some measures. Nonetheless, Wall Street has been waiting for a big correction in ages, but it hasn’t arrived yet. As long as the economy keeps delivering positive news, the market may keep running. - “Investors are especially upbeat right now, too. We all love a good collective mood before the holidays, but I’m worried we could get caught off guard by bad news,” said Callie Cox at Ritholtz Wealth Management. Callie Cox at Ritholtz Wealth Management (Photo: CNBC) Keep in mind that Wall Street wants the economy to grow at a robust pace. An overheating economy will be a net negative for stocks because it will force the Fed to hike interest rates. So, the numbers have to be just right. Not too hot, not too cold. The Best Stock to Buy When Construction Recovers Today’s Stock Pick: Procore Technologies, Inc. (PCOR) You would be surprised by how massive the construction industry is. Based on the global workforce by sector, the construction industry accounts for 8% of the total workforce around the world. The number is 4th largest, behind agriculture, manufacturing, wholesale & retail trade. All in all, global construction is estimated to spend $15 trillion in 2030. (Source: Procore Technologies) Impressive, right? It offers an opportunity for Procore Technologies to offer solutions in the complicated industry. It requires coordination across many roles. A single building may have more than 14 major players in the construction process. Meaning? It is difficult to track everything. (Source: Procore Technologies) So, Procore has developed a unified platform that serves users throughout the construction process — preconstruction, project execution, resource management, and financial management. (Source: Procore Technologies) For example, an owner can look at historic projects to establish a project estimation entirely through Procore’s software. (Source: Procore Technologies) People can begin conversations around key projects, giving everybody an unified look at the project. For example, a team can submit a RFI and message key stakeholders to follow up on it. (Source: Procore Technologies) It even leverages Copilot to recommend project owners to focus on certain things that may be the constraint blocking an activity in the upcoming schedule. (Source: Procore Technologies) Sure enough, Procore hit its product market fit in 2018 and began growing rapidly since. (Source: Procore Technologies) It is the bona fide leader in construction technology. Procore has 2 million active users in 160+ countries. Its annualized revenue run rate is $1.2 billion. And finally, there are more than 3 million projects running on Procore. (Source: Procore Technologies) More importantly, it is good at its “land & expand” strategy. The first-time customer typically starts with Procore’s project management. It would grow by adding volume to the platform. Later on, the customer would add other products and expand them. (Source: Procore Technologies) The growth runaway is long. Procore has captured less than 12% logos in the US. What about international markets? Less than 2%. So, the company has multiple opportunities to grow its market share. (Source: Procore Technologies) Lastly, you could be investing in Procore at the bottom of the cycle. The construction industry is notoriously cyclical. The industry turned cautious and its growth rate slowed over the last few months. The Federal Reserve is now cutting rates, so the industry might recover down the road. (Source: Procore Technologies) At the same time, the company is becoming more efficient with its operations. It projects its non-GAAP operating margin to rise from 11% to 13% in FY25. (Source: Procore Technologies) While the revenue growth rate has slowed in the last few quarters, the company has delivered a strong track record of growth since its IPO. (Source: MacroTrends) Bottom line: Procore Technologies is the leader in construction technology, and the future looks bright for the company. Today might be an attractive opportunity to buy the stock when the industry recovers from its challenging demand environment.   [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!](     © All Rights Reserved, Trade Alliance [Unsubscribe]( | [Manage Preferences](