On the Goldman list: Autozone, Omnicom, Johnson & Johnson and Walmart.
While the debate rages over whether the global economy is careening towards a recession, our call of the day from Goldman Sachs, suggests investors steer towards some reasonably-priced stocks that can see them through a downturn.
“In addition to the uncertain macroeconomic backdrop, volatile growth companies are currently growing earnings at a rate only marginally faster than stable growth companies, an unusual dynamic that further reduces their appeal to investors,” said Snider and the team, in a note to clients. Goldman has picked through its basket of stable stocks to find those that they say are most reasonably priced. Such factors include shares that aren’t too volatile, those with growth that’s steady and a reasonable price earnings multiple — share price relative to per-share earnings.
We’ll hear from lots of Federal Reserve officials Friday, with conferences in Boston and Washington. Fed Chairman Jerome Powell will appear at the latter. The buzz Apple AAPL, +2.22% is up after a report that the company has asked suppliers to boost production owing to stronger demand for the iPhone 11. Some European tech stocks have also lifted on that news.
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