Analysts at JPMorgan named five global stocks in a sector they described as being in "pole position," following the Federal Reserve 's latest rate hike. On July 26, the Fed approved its 11 th interest rate hike in a tightening process that began in March 2022, taking borrowing costs to their highest level since 2001. With that move, "the Fed is potentially at the end of its rate hiking cycle.
Top picks The analysts named five consumer staples stocks they expect to outperform in the next six to 12 months, including them on a list of top European picks. The bank gave French food manufacturer Danone an estimated 6% earnings per share growth for 2024, and Swiss competitor Nestle 8% for the same period. British grocer Tesco also made the outperform list, although the bank estimated a 2% reduction in EPS for 2024.