The best cheap stocks to buy now? 5 consumer discretionary stocks to watch

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Do you have these top consumer discretionary stocks on your watch list?

Among the headlines recently, US inflation data dominated the scene, with the consumer price index climbing 9.1% from a year earlier. This will likely strengthen the Federal Reserve’s resolve to raise interest rates. Therefore, consumer discretionary stocks may not be investors’ first choice in the stock market today. That said, this sector still grabs the headlines and many of the biggest names in the industry continue to move forward despite the headwinds.

For example, competition is still fierce among the major electric vehicle (EV) companies. Hyundai engine (OTCMKTS:HYMTF) recently launched its first EV sedan, Ioniq 6. This could potentially pose a threat to other EV leaders like You’re here (NASDAQ: TSLA). It will be one of 31 electric models that Hyundai plans to introduce by the end of the decade.

Somewhere else, Apple (NASDAQ: AAPL) continues to make significant progress in the world of streaming. For the second year in a row, Apple TV+ broke records with 52 Emmy Award nominations. In less than three years, the company has increased its total number of Emmy nominations by more than 40% year over year. Overall, it appears that demand for consumer discretionary products and services is still robust. That being said, here are five of the top consumer discretionary stocks to note in the stock market today.

Consumer discretionary stocks to watch in mid-July 2022

netflix

Most people would be aware of what netflix has to offer. With paid streaming subscriptions in over 190 countries, subscribers can watch a variety of TV series, documentaries and feature films in a variety of genres and languages. Making cable television almost obsolete today, the company allows its users to stream content anytime and anywhere. One of its biggest selling points is the ability to stream ad-free content.

That said, the streaming space has seen increasing competition over the past few years. As a result, Netflix recently selected Microsoft (NASDAQ: MSFT) as a technology and business partner for its new ad-supported streaming service. The company plans to sell a cheaper, ad-supported alternative to its flagship streaming service by the end of this year. In many ways, this is a necessary step by Netflix to attract more subscribers. So, could this move revitalize the company’s long-term growth plans? If so, would you consider adding NFLX stocks to your watchlist?

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Nike

Then we have the global sports brand, Nike. In simple terms, it is a company that designs, markets and distributes athletic footwear, apparel, equipment and accessories for sports and fitness activities. The main focus of its brand is in categories such as NIKE basketball, football, Jordan brand, running, etc. Nike aims to bring innovation and inspiration to all athletes around the world.

On Wednesday, Nike announced a long-term agreement with Fanatics to produce Nike-branded college sports fan apparel. For the uninitiated, Fanatics is a major hub for sporting goods, worth around $27 billion. Prior to this, the Fanatics College division had already entered into agreements with most Nike sponsored schools. But now it will collaborate with Nike itself. Fanatics Commerce CEO Doug Mack says the company is “Excited to maximize the value of Nike’s college partnerships. Given such encouraging developments, could NKE’s stock continue to grow?

NKE Stock Chart
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Amazon

Amazon is a technology giant that offers a range of products and services. The products offered on its stores include merchandise and content purchased for resale and products offered by third-party sellers. As cloud adoption continues to increase, the company’s Amazon Web Services (AWS) segment has thrived, to say the least. In reality, Delta Airlines (NYSE: DAL) recently announced a multi-year agreement to adopt AWS as its preferred cloud provider. This will help Delta unlock technologies and streamline processes that will make the customer experience faster, smoother and more secure.

Additionally, AWS on Tuesday announced the general availability of three new serverless analytics offerings. This includes offerings for Amazon EMR, Amazon Managed Streaming for Apache Kafka, and Amazon Redshift. These offerings will make it even easier for customers to analyze large amounts of data without the need to configure or manage the underlying infrastructure. All things considered, will you be watching AMZN stocks?

AMZN Stock Chart
Source: TD Ameritrade Terms of Use

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Thor

Another big consumer discretionary company today is Thor Industries. Overall, the company primarily manufactures and markets recreational vehicles (RVs) and is also the largest manufacturer of RVs in the world. Thanks to Thor, consumers have access to towable and motorized recreational vehicles. Similar brands are offered through the company’s wide range of subsidiary brands. This includes, but is not limited to, its Airstream, Heartland RV and Jayco divisions.

This month, Thor announced a strategic investment in Dragonfly Energy. It is one of the leading producers of deep-cycle lithium-ion batteries in the recreational vehicle industry. Most of its investment will be focused on deploying Dragonfly’s innovative storage technologies to support the company’s best VRs. Also, it shows that Thor is always looking for ways to improve the user experience of his motorhomes. Overall, many would agree that energy storage is very important because it will allow more of its customers to drown and camp off the grid. With that in mind, do you consider THO stock to be one of the top consumer discretionary stocks to watch?

THO Action
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eBay

Finally, let’s look at the global trade enterprise, eBay. Through its Marketplace platforms, buyers and sellers could connect to more than 190 marketplaces around the world. Its technology empowers its customers and gives everyone the opportunity to grow and prosper. Therefore, investors with a particular interest in the e-commerce sector may want to keep an eye on EBAY stocks.

In June, eBay announced the acquisition of KnownOrigin, an innovative non-fungible token (NFT) marketplace. The addition of KnownOrigin is an important step in eBay’s vision to be the world’s premier destination for collectibles. Additionally, it will allow artists and collectors to create, buy and resell NFTs. So, this could play a role in supporting eBay’s long-term growth. With that in mind, should EBAY stocks receive more attention in the stock market today?

EBAY Stock
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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

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