Mar. 24 at 6:18 PM
Investors should stay defensive as Iran war casts pall over consumers
The U.S. consumer remains fairly healthy, according to the latest macroeconomic data, but Loop Capital is taking a “wait and see” approach as the Iran war continues.
”[W]e believe the ongoing conflict in Iran is casting a major pall, as we think a prolonged period of high oil prices will not only reduce purchasing power but will also dent consumer confidence,” analyst Anthony Chukumba wrote in a note Monday.
Therefore, he continues to recommend defensive names such as Five Below
, National Vision
, and Ollie’s Bargain Outlet
$FIVE $OLLI