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Good Stocks To Buy Right Now? 2 Consumer Discretionary Stocks To Know

Do you have these consumer discretionary stocks on your April 2023 watchlist?

good stocks to buy right now

The consumer discretionary sector is a diverse industry that includes companies involved in the production of non-essential goods and services. Such as retail, apparel, leisure, and entertainment. The demand for these goods and services tends to be highly sensitive to changes in economic conditions and consumer sentiment. As a result, making the sector a bellwether for the broader economy. In times of economic growth, consumer discretionary stocks can perform well as consumers have more disposable income to spend on non-essential goods and services. However, during times of economic downturn or uncertainty, consumer discretionary stocks can underperform as consumers cut back on discretionary spending.

Some of the largest companies in the consumer discretionary sector include multinational corporations such as Nike (NYSE: NKE), and McDonald’s (NYSE: MCD) to name a few. As well as smaller companies specializing in niche markets such as luxury goods or home furnishings. Investors often look to the consumer discretionary sector as a way to gain exposure to consumer spending trends and broader economic indicators.

However, it’s important to note that not all consumer discretionary stocks are created equal, and companies within the sector can have vastly different business models and revenue streams. As such, investors should conduct thorough research and analysis before making investment decisions in the consumer discretionary sector. With that being said, let’s dive into two trending consumer discretionary stocks to watch in the stock market today.

Consumer Discretionary Stocks To Watch Now

Live Nation Entertainment (LYV Stock)

To start, Live Nation Entertainment (LYV) is a live entertainment company that produces and promotes concerts, festivals, and other live events. The company also operates ticketing and artist management services, making it a key player in the music and entertainment industry.

Back in February, Live Nation announced its 4th quarter 2022 financial results. In the quarter, the company reported a loss of $1.09 per share, with revenue in the quarter of $4.3 billion. This was versus analysts’ consensus estimates that were a loss of $0.96 per share and revenue estimates of $3.4 billion. Moreover, Live Nation also notched in a 57.6% increase in revenue versus the same period, the prior year.

Looking that the past month of trading activity, shares of LYV stock have increased by 4.88%. In addition, on Wednesday, Live Nation stock is trading flat on the day so far, trading at $70.24 a share.

Source: TD Ameritrade TOS

[Read More] Best Bank Stocks To Buy Now? 3 For Your Watchlist

Amazon.com, Inc. (AMZN Stock)

Next, Amazon (AMZN) is an e-commerce giant that operates one of the world’s largest online marketplaces. The company offers a wide variety of products and services, including consumer electronics, clothing, and groceries, as well as cloud computing and streaming media services.

Earlier this month, Amazon released its third annual Brand Protection Report. The report showcases the company’s efforts to protect customers, brands, and selling partners from counterfeit products. The report highlights that Amazon’s strategic combination of industry-leading technology and experts are successfully stopping bad actors, resulting in more criminal referrals and industry partnerships than ever before. In 2022, Amazon identified, seized, and appropriately disposed of over six million counterfeit products, preventing them from reaching customers and being resold elsewhere in the global supply chain.

Continuing on, over the past month of trading, Amazon stock has jumped by 6.97%. Meanwhile, during Wednesday’s mid-morning trading session, shares of AMZN stock are trading lower on the day so far by 1.08% at $98.84 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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