3 Large-Cap Stocks to Buy for the Long Term By StockNews

© Reuters. 3 Large-Cap Stocks to Buy for the Long Term

Because the stock market is expected to remain volatile for the foreseeable future on concerns over high inflation and worries about the spread of the Delta coronavirus variant in several countries, we think it could be wise to bet on large-cap stocks now because they typically offer steady returns irrespective of short-term market fluctuations. Johnson & Johnson (JNJ), Agilent Technologies (NYSE:), and Canon (CAJ) are dominant players in their respective industries and could be solid, large-cap bets considering their immense growth potential. Read on.While the fast-paced economic recovery has been fueling the stock market’s positive performance, concerns over high inflation and the emergence of the Delta coronavirus variant in several corners of the globe are expected to foster market volatility in the near term. Consequently, it could be wise to bet on large-cap stocks. In addition to possessing sufficient financial resources to absorb market shocks and deliver steady returns, large-cap stocks typically benefit from their companies’ market dominance.

The IMF has revised its growth forecast for the U.S. economy to 7%, citing a stronger-than-expected rebound from the pandemic-driven downturn. This expectation should drive the performance of companies that dominate their respective industries. Investors’ interest in large-cap stocks is evident in the SPDR S&P 500 ETF Trust’s (SPY) 16.5% returns year-to-date.

We believe large cap stocks Johnson& Johnson (JNJ), Agilent Technologies, Inc. (A), and Cannon Inc. (CAJ) could be solid investments now due to their fundamental strength and long-term growth prospects.

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