Consumer retail, apparel and food and beverage companies are well positioned ahead of the holiday weekend, according to Bank of America, as the U.S. continues to recover from the Covid-19 pandemic and consumers are expected to return to social gatherings and events around the holiday.
"As the U.S. heads into the long weekend for Memorial Day with COVID-19 case counts that are near 1-year lows, we expect some return to more 'normal' consumer behavior around the holiday weekend, including social gatherings , and road trips," the note to clients Friday said. B of A highlighted several buy-rated stocks that are poised to benefit from summer activities. Home improvement and housing-related spending, furniture and home goods and gas station sales have all continued to climb in recent weeks, tracking above 2019 levels, it showed.