Published on 26 Feb 2024 on Zacks via Yahoo Finance
5 Solid Stocks to Buy on a Steady Rise in Consumer Sentiment
Wall Street has been witnessing volatility for the past couple of weeks after a solid January that saw major indexes hitting all-time highs. Inflation rose in January and the Federal Reserve indicated that a rate cut in March is unlikely, which has left investors somewhat concerned.
However, consumer sentiment is still high as Americans now believe that the economy is still on solid ground and will have a softer landing than expected earlier as inflation has declined sharply over the past year.
The University of Michigan's preliminary index of consumer sentiment came up with a reading of 79.6 in February, up from January’s final reading of 79. The survey's gauge of one-year inflation expectations came in at 3% in February after falling to 2.9% in January.