Best Stocks Of The First Quarter

This year certainly has been a strange one so far for the U.S. stock market. Thursday marks the end of a volatile Q1, which started out looking like it could be one of the worst quarters for the market in recent history. By mid-February, the S&P 500 was down more than 10 percent on the year. However, it has since rallied in spectacular fashion, and the index will likely end Q1 up about 1.0 percent.

Some stocks have rallied harder than others. Here’s a look at the five best S&P 500 stocks of the quarter.

5. Wynn Resorts, Limited WYNN

Macau casino stocks have been hit hard by a government corruption crackdown and general weakness in the Chinese economy. However, Macau’s February gross gaming revenue number was essentially flat after nearly two years of declines. Wynn’s stock is up 36.7 percent in Q1.

Related Link: 2016 First Quarter In Review: Roller-Coaster Stock Run, Dollar Loses Ground

4. Michael Kors Holdings Ltd KORS

After a rough 2014 and 2015, investors have flocked to Michael Kors thus far in 2016. Perhaps the stock is seen as a safe play during a potential economic downturn. Michael Kors’ stock is up 41.9 percent in Q1.

3. Urban Outfitters, Inc. URBN

A big Q4 earnings beat propelled Urban Outfitters into the top tier of Q1 performers. Like the other names on this list, Urban Outfitters is another bounce-back story after a weak 2015. The stock is up 45.2 percent in 2016.

2. Newmont Mining Corp NEM

The SPDR Gold Trust (ETF) GLD has surged 16.4 percent so far in 2016, and Newmont rode the wave of rising gold prices throughout Q1. Newmont investors are hoping that global economic uncertainty continues to worry investors because gold is one of the most popular safe-haven trades. The stock is up 48.8 percent in Q1.

1. Freeport-McMoRan Inc FCX

When it comes to 180-degree turnarounds, Freeport’s 2016 turnaround is about as sharp as they come. When copper prices hit six-year lows in 2015, Freeport’s stock plummeted 70.1 percent, making it one of the five worst-performing S&P 500 stocks last year.

This year, however, the bounce in commodity prices and news that big-name investors like Carl Icahn have been buying the Freeport dip sent the stock skyrocketing 51.9 percent in Q1, making it the top performer in the entire S&P 500 so far in 2016.

Disclosure: The author holds no position in the stocks mentioned.