2 Top Consumer Discretionary Stocks To Watch Ahead Of May 2023

The consumer discretionary sector comprises businesses that sell non-essential goods and services. This is what consumers can afford to purchase when they have disposable income. This sector is highly sensitive to fluctuations in the economy. This comes as consumers tend to increase their spending on discretionary items during periods of economic growth and cut back during downturns. The consumer discretionary sector encompasses a wide range of industries. Such as retail, automobiles, leisure and entertainment, travel, and luxury goods, among others.

Consumer discretionary stocks represent the shares of companies operating within this sector. These stocks can offer attractive investment opportunities during economic expansions, as consumer confidence and spending typically increase, boosting the revenues and profits of businesses in this space.

However, consumer discretionary stocks can be vulnerable to economic slowdowns, as reduced consumer spending may impact their financial performance. Investors interested in this sector should closely monitor economic indicators, consumer confidence, and employment levels, as these factors can provide valuable insights into the health of the consumer discretionary market. Considering this, let’s look at two consumer discretionary stocks to watch in the stock market today.

Consumer Discretionary Stocks To Watch Now

• The Home Depot Inc. (NYSE: HD)
• Starbucks Corporation (NASDAQ: SBUX)

Home Depot (HD Stock)

First off, The Home Depot Inc. (HD) is a leading home improvement retailer in the United States, offering a wide range of products and services for homeowners, contractors, and DIY enthusiasts. With a vast network of stores and a strong online presence, The Home Depot has positioned itself as a go-to destination for home improvement needs.

In February, Home Depot announced impressive financial results for the fourth quarter of 2022 that exceeded analysts’ expectations. The company reported earnings of $3.30 per share and generated $35.8 billion in revenue. These figures surpassed analysts’ consensus estimates, which had predicted earnings of $3.26 per share and revenues of $36.0 billion.

Over the last month of trading, shares of Home Depot stock have rebounded by 4.53%. Meanwhile, on Wednesday morning, HD stock is trading red off the open by 0.76% at $294.09 a share.

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Starbucks (SBUX Stock)

Next, Starbucks Corporation (SBUX) is a global coffeehouse chain and one of the most recognizable brands in the world. With thousands of locations across various countries, Starbucks has solidified its place in the consumer discretionary sector as a provider of specialty coffee beverages, food items, and related products.

Earlier this month, Starbucks announced when it will release its second quarter 2023 financial results. In detail, the company is set to release its results on Tuesday, May 2, 2023, after the U.S. stock market closes. To review briefly, last quarter, which was Q1 2023, SBUX reported earnings of $0.75 per share, with revenue of $8.7 billion.

In the past month of trading, shares of SBUX stock have jumped by 11.67%. With that, on Wednesday morning, Starbucks stock opened higher by 0.85% so far at $110.27 a share.

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The post 2 Top Consumer Discretionary Stocks To Watch Ahead Of May 2023 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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