Consumer Confidence Improves but Economic Woes Continue: 4 Safe Picks

Macro
โดย Zacks Investment Research·Read original
Summary · why it matters

Consumer confidence saw a marginal improvement in June but remains near historic lows, prompting a recommendation for defensive consumer staples stocks. The consumer confidence index rose to 91.2 from a downwardly revised 90.6, while the University of Michigan's consumer sentiment index increased to a final reading of 49.5 from 44.8. The uptick follows a temporary halt in U.S.-Iran hostilities that eased oil prices, though inflation and labor market concerns persist. Private sector payrolls added 98,000 jobs in June, below estimates, and markets are pricing in a 25-basis-point Federal Reserve rate hike by year-end. Zacks Investment Research highlights John Wiley & Sons, Tyson Foods, Arko Corp., and The New York Times Company as low-beta picks with positive earnings estimate revisions and Zacks Ranks of 1 or 2.

Impact on stocks 5

Communication Services · 2 stocks
John Wiley & Sons
WLY
▲ PositiveDemandrelevance

Recommended as a low-beta pick with positive earnings estimate revisions

Consumer Discretionary · 1 stocks
Arko Corp
ARKOW
▲ PositiveDemandrelevance

Recommended as a defensive consumer staples pick with positive earnings estimate revisions

Consumer Staples · 1 stocks
Tyson Foods Inc
TSN
▲ PositiveDemandrelevance

Recommended as a defensive consumer staples pick with positive earnings estimate revisions

Cloud & Digital Infrastructure · 1 stocks