Investors are taking a closer look at the market's consumer discretionary companies as a reopening U.S. economy fuels hopes of a turnaround for some of the sector's hardest-hit names.
Some investors, however, say it may be months before consumers return to their previous shopping habits, making it unlikely that the companies will see a pickup in revenues in the near term. Next Friday’s U.S. jobs report is expected to show that the unemployment rate rose to 19.8per cent in May, smashing April’s record 14.7per cent, according to a Reuters poll. Non-farm payrolls are expected to drop by 7.4 million, adding to the 20.5 million jobs lost the previous month.
Brian Jacobsen, senior investment strategist for the Wells Fargo Asset Management Multi-Asset Solutions team, says retail companies will likely show rising expenses over the next several quarters due to items like more frequent sanitation of stores and technology purchases aimed at increasing the productivity of employees working from home.
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Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »