3 Consumer Discretionary Stocks to Buy for the 4th Quarter By StockNews

0
15
© Reuters. 3 Consumer Discretionary Stocks to Buy for the 4th Quarter

While the resurgence of COVID-19 cases and supply chain issues are concerns for the consumer discretionary industry, it continues to enjoy substantial investor attention due to increasing consumer spending and pent-up demand. So, we think it could be wise now to scoop up the shares of quality consumer discretionary stocks Starbucks (SBUX), The TJX Companies (NYSE:), and Tapestry (NYSE:). Read on to learn more.Despite the resurgence of the COVID-19 cases and ongoing supply chain disruptions, the consumer discretionary industry has been enjoying continued investor attention thanks to pent-up consumer demand and rising consumer spending. Investors’ interest in the consumer discretionary industry is evident in the Consumer Discretionary Select Sector SPDR ETF’s (XLY) approximate 5% gains over the past six months.

According to the Commerce Department, U.S. consumer spending increased 0.8% in August. In addition, retail sales rose 0.7% in August despite expectations of a 0.8% decline. Spending on consumer discretionary products is expected to grow further in the coming months because of the holiday season.

So, we think it could be wise to bet on fundamentally strong consumer discretionary stocks Starbucks Corporation (NASDAQ:), The TJX Companies, Inc. (TJX), and Tapestry, Inc. (TPR). All three names have rallied in price over the past few months and are expected to generate significant returns in the fourth quarter.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.