Weekly jobless claims dropped last week, a sign that the labor market is still strong, which could prompt the Fed to continue its rate hikes. Moreover, as per “Dr. Doom” economist Nouriel Roubini, a “perfect storm” is brewing this year, which will hit the market with a recession, debt crisis, and out-of-control inflation.
Amidst the major macroeconomic headwinds, I think it is ideal to invest in fundamentally solid stocks Stellantis N.V. (STLA), General Motors Company (GM), Textron Inc. (TXT), and Modine Manufacturing Company (MOD), which have the potential to withstand a market downturn.
