With inflation remaining well above the Fed’s long-term target of 2% and the jobs market remaining tight, Fed Chairman Jerome Powell warned that interest rates would likely rise even higher than previously anticipated.
The stock market will likely remain volatile, with the economy expected to face a recession. Amid this background, I think it could be best to avoid fundamentally weak retail stocks Five Below, Inc. (FIVE), GameStop Corp. (GME), Wayfair Inc. (W), Ollie's Bargain Outlet Holdings, Inc. (OLLI), and Rent the Runway, Inc. (RENT).
