JPMorgan has released its list of preferred investment ideas for October, following a mixed performance in the broader market during September. The S&P 500 and Dow Jones Industrial Average experienced declines of 0.5% and 4.3%, respectively, while the Nasdaq Composite rose by 1.9%.
Over the third quarter, the Dow fell 3%, contrasting with gains of at least 2% for both the Nasdaq and the broader market index. The bank's list includes five stocks that are rated overweight, categorized into growth, income, value, or short plays.
Among these, American Express is highlighted as a value play, despite its shares being down nearly 19% year to date due to concerns over consumer spending and credit rate fluctuations. Analyst Richard Shane emphasizes its strong value proposition, noting that it remains a core holding for investors seeking high returns and disciplined capital returns.
Liberty Energy is identified as a growth play, with its shares up 52% over the past year, driven by a tight power market and the ongoing AI boom, according to analyst Arun Jayaram. Thermo Fisher Scientific is also recommended for growth, having seen a 25% increase in shares over the last three months, bolstered by a strong financial outlook and a partnership with Mayo Clinic.
Analyst Casey Woodring suggests that the stock could benefit further from the adoption of AI and biopharma reshoring initiatives in the U.S