The stock market rose in Tuesday’s session as investors hope on a less-hawkish Federal Reserve as the central bank tries to slow down inflation.
A decline in bond yields also contributed in today’s rally as the benchmark 10-year Treasury note was down 16 basis points to 4.09%.
Overall, S&P 500 was up 1.6% to 3,859, while NASDAQ increased 2.3% to 11,199.
Tweet of the Day
1980 pic.twitter.com/L5TDQY8Wuf
— Mark Ungewitter (@mark_ungewitter) October 23, 2022
Chart of the Day
Our chart of the day is the one-year chart of DoubleVerify (DV) as of August 13, 2022, when the stock was at $27.
DoubleVerify is a software platform for digital media measurement and analytics, helping companies increase their return on digital advertising investments.
DoubleVerify could be emerging as a new leader in the next Bull Market. The company develops fraud solutions in the digital advertising space, saving its customers tens of millions of dollars in wasted ad spend each month. It is profitable, and has a good growth rate.
DV was added to the Growth Portfolio and Aggressive Growth Portfolio today as the stock is breaking out. The stock market went into a rally on Friday, and this stock looks to be market leader.
David Sharek’s Fair Value on this stock is 12x annual revenue estimates.
