Stocks with steady earnings growth are the play to manage an upcoming economic downturn, according to David Kostin, Goldman Sachs' chief U.S. equity strategist. He said on Tuesday on CNBC's " Squawk on the Street " that companies will continue to experience margin degradation as they struggle with pricing power and inflation.
" What's perhaps not priced in our view, would be the stable growth companies." The equity strategist named household products company Colgate-Palmolive and biotechnology name Amgen as examples of stocks with low variability of earnings growth in an environment that's laden with recession risk. Colgate-Palmolive and Amgen are among the names Goldman recently highlighted in its table growth basket. Constituents in the health-care sector include Encompass Health and McKesson .
I would recommend the renewable energy sector, because without it, there won't be anything at all.
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