The consumer goods industry is expected to remain resilient due to increasing urbanization and rising disposable income in cities. Therefore, while I think consumer stocks Colgate-Palmolive Company (CL) and The Clorox Company (CLX) might be solid buys for growth, Peloton Interactive, Inc. (PTON) might be worth watching.
The Commerce Department’s advanced retail sales report showed a seasonally adjusted increase of 0.7% for July, better than the estimated 0.4%. Higher retail sales indicate increased consumer confidence in the economy, which can lead to more spending.
