September is starting with a warning for U.S. equity investors. Oil is climbing, Treasury yields are rising and expectations for the Federal Reserve’s next policy move are shifting rapidly. U.S. stock futures opened lower on Sept. 1 as rising Treasury yields and oil prices weighed on risk appetite. Brent crude climbed above $90 a barrel amid renewed Middle East tensions, while the 10-year Treasury yield moved above 4.75%, fueling concerns over inflation and the prospect of further rate hikes (Reuters, Sept. 1 article).
Rising Yields and Oil Raise September Risks
These make September a month for investors to thoroughly scrutinize where earnings growth is coming from, how much valuation depends on lower rates and whether companies can sustain cash flows in a higher-cost environment. The challenge is compounded by a slowing economy with U.S. real GDP expanding at a 1.5% annualized rate in the second quarter, down from 2.1% in the first quarter, as per the latest BEA second estimate released on Aug. 26, 2026.
Why Value Stocks Stand Out Now
This backdrop calls for shifting toward value investing. Rising borrowing costs and persistent inflation can put greater pressure on highly valued stocks, while companies with established earnings, resilient cash flows and reasonable valuations may offer greater downside protection. This makes valuation discipline increasingly important as investors assess opportunities against a backdrop of moderating economic growth and an uncertain monetary-policy outlook.
The case for value is also supported by the Fed’s policy dilemma. The central bank has kept the federal funds target range at 3.5%-3.75% while acknowledging that inflation remains elevated relative to its 2% goal, with energy-related supply shocks contributing to price pressures. Meanwhile, markets have increased expectations for a September rate hike, putting greater emphasis on the upcoming labor-market data. The August Employment Situation is scheduled for Sept. 4.
Our Picks
With the macro backdrop favoring valuation discipline, here are three value stocks that stand out now. These are Match Group MTCH, Amkor Technology AMKR and HF Sinclair DINO.
Match Group: It has several promising growth drivers, led by Hinge, where product innovation, international expansion and additional monetization opportunities support long-term potential. The company is leveraging common technology and operating capabilities across its portfolio to improve efficiency and expand cross-selling opportunities. Tinder’s product-led reset is improving engagement trends, while planned initiatives could support future MAU and payer growth. Strong cash-generating ability also supports shareholder-friendly capital allocation through buybacks and dividends.
Match Group’s forward fiscal year 1 P/E of 9.84X compares favorably with 21.61X for the industry and 18.71X for the S&P 500. The company carries a Zacks Rank #1 (Strong Buy) and Value Score of A. Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 (Buy) or 3 (Hold) offer the best upside potential.
Amkor: It is a leading outsourced semiconductor assembly and test service provider (OSAT). The company packages and tests integrated circuits for customers across smartphones, data centers, artificial intelligence (AI), automotive, industrial and consumer devices. AMKR is expected to benefit from accelerating AI and HPC packaging demand. It reported record Computing revenues in the second quarter of 2026, up approximately 26% year over year. Computing revenues are expected to grow nearly 30% sequentially in the third quarter of 2026 as the newest HDFO data center CPU program continues to ramp.
Amkor’s forward fiscal year 1 P/E of 18.19X compares favorably with 34.42X for the industry and 18.71X for the S&P 500. The company carries a Zacks Rank #1 and has a Value Score of A.
HF Sinclair:The company stands out as a value-oriented energy play with sharply improved profitability and substantial shareholder returns. HF Sinclair’s investment case is supported by favorable refining fundamentals, a flexible regional asset base and projects that can improve margin capture through the cycle. Tight product supply and low inventories are supporting gasoline and distillate economics, while the El Dorado vacuum furnace and Go-West initiatives should expand feedstock and logistics flexibility. Renewables provide another earnings stream as higher credit values, tax benefits and volumes support profitability. Cash generation, share repurchases and a higher dividend support shareholder returns.
DINO’s forward fiscal year 1 P/E of 8.57X compares favorably with 8.82X for the industry and 18.71X for the S&P 500. The company carries a Zacks Rank #1 and has a Value Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Amkor Technology, Inc. (AMKR): Free Stock Analysis Report
Match Group Inc. (MTCH): Free Stock Analysis Report
HF Sinclair Corporation (DINO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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