Morgan Stanley highlighted several companies that are prepared to withstand — and even benefit from —consumers' shifting preferences this holiday season, as inflationary pressures dampen shoppers' budgets this quarter. "We are underweight the consumer discretionary sector; the lower prices customers are looking for will weigh on company margins and earnings," analyst Michael Wilson said in a Thursday note.
"Durable goods spending has slowed and that is expected to continue into the holiday season," Wilson said in the note. "Even if the recent slowdown proves temporary and holiday sales exceed expectations, the larger narrative unfolding is one of the consumer weakening, persisting inflation, and a slowdown in durable goods.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »