This morning I had the opportunity to sit down with the crew over at Cheddar News to talk about the economy, consumer spending and sectors with highest growth potential for the rest of 2021.
Watching the economy reopening over the past several weeks, it’s tough to deny that the consumer is back!
Almost everywhere I go, I see big-box stores and shopping malls packed like nothing ever happened.
People are getting back out there, shopping and spending money again. I see it as a bullish signal for the markets and economy overall.
And there are several sectors seriously in need of some love after the shutdown that are poised to break out as this trend matures.
Sectors with the Highest Growth Potential in 2021
Now this might be controversial, but of the sectors with the highest growth potential, I love travel names right now.
The markets don’t seem to agree with me… This month, we’ve seen a nasty downtick and airliners like United Airlines Holdings Inc. (NASDAQ: UAL) and cruise liners like Carnival Corp. (NYSE: CCL) — a stock that I’ve been bullish on since February.
This pullback presents a much better opportunity over other areas — especially the big tech names that are already pushing 52-week highs heading into earnings.
As we see more people get back to work and start traveling for business again — flying, staying at hotels, dining out — I see this as one of sectors with highest growth potential for the second half of 2021.
Click on the image below to check out the interview and find out more about my sectors with the highest growth potential, and hear my thoughts on what Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell’s recent comments mean for the market.
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