Our call of the day says watch these big consumer discretionary companies in 2020.
As we watch for further developments on the U.S.-Iran conflict that jolted investors awake a few days into 2020, it’s worth remembering that during this lengthy bull market, geopolitical worries have not pulled stocks off their upward path for too long.
That brings us to our call of the day, from strategists at investment bank Jefferies who are bullish on certain consumer discretionary companies this year. As a reminder, those companies produce goods and services purchased if households have extra income. So, what are the companies with scale that they like? In beauty products, they are fans of Ulta ULTA, +0.31% ; for consumer packaged goods, Constellation Brands STZ, +0.46% ; among convenience stores, Casey’s General Stores CASY, +2.05% CASY, +2.05% ; for gaming and lodging, Eldorado Resorts ERI, +1.36% ; among mass retailers, Walmart WMT, -0.20% ; for restaurants they like McDonald’s MCD, +1.12% and Starbucks SBUX, -0.79% ; and they offer three in the hardline retail space — Home Depot HD, +0.
“XOP [the S&P Oil & Gas Exploration and Production ETF] XOP, +0.67% did make an all-time low in December, and has been up five weeks in a row since then, a sign of a potential major long-term bottom,” Tentarelli writes. At a big Las Vegas tech show on Monday, ride-hailing app company Uber UBER, +0.67% unveiled a partnership for electric air taxis with South Korean auto group Hyundai Motor 005380, -0.43%, while wireless chip maker Qualcomm announced an autonomous driving system.
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