The United States is struggling to get a grip over the growing number of coronavirus infections, with hospitalization reaching a new high. Experts had earlier warned that the winter will flare up the virus spread and that’s exactly what’s happening.
A number of states have already re-imposed restrictions on movements and people are once again confining themselves to their homes to avoid the spread of the virus. Given this situation, it won’t come as a surprise if people once again start stockpiling on essential goods fearing a new round of extended shutdowns.
U.S. Hospitalization Hit Record High
According to the Covid Tracking Project, the number of patients affected with COVID-19 getting hospitalized in the United States reached a record 101,487 on Sunday. Hospitals across the country are already struggling to accommodate patients.
Moreover, the United States reported over 175,600 new cases of COVID-19 and more than 1,100 deaths on Sunday, according to data from the Johns Hopkins University.
It took nearly 100 days for the United States to reach 1 million Covid-19 cases since the first case was confirmed in January. However, things have only taken a turn for the worse over the past few weeks. The first week of December alone recorded a staggering 1,000,8882 fresh cases of coronavirus, according to the Johns Hopkins University
Needless to say, the numbers are worrying and experts have already warned that it is just the beginning of more desperate times ahead as winter sets in.
Braving the Pandemic
Life has changed drastically since the coronavirus outbreak. Work and learn from home have become the new normal, while social distancing has completely changed the way business and transactions were done so long. This has seen people becoming extremely dependent on technology be it for ordering food, groceries and other essentials or running businesses.
Moreover, social distancing measures have made people become more self-reliant and are keeping them indoors more. Although the virus has left the entire global economy badly battered and bruised, some sectors have particularly been benefiting from the situation.
The consumer discretionary sector especially has been one of the biggest beneficiaries of this pandemic given that people have been stockpiling on essential goods ever since the outbreak. The Consumer Discretionary Select Sector SPDR’s (XLY) has returned 23.3% in over the past six months.
Given that states have started imposing restrictions again and people are likely to stay confined to their homes for their own safety, they may once again stockpile on essential goods. It would thus be prudent in investing in these consumer discretionary stocks.
Reynolds Consumer Products Inc. ( REYN Quick Quote REYN - Free Report) is a consumer branded and private label products company. It produces and sells branded and store-brand products, which include cooking products, waste & storage products, and tableware.
The company’s expected earnings growth rate for the current year is 36.6%. The Zacks Consensus Estimate for current-year earnings has improved 2.6% over the past 60 days. Reynolds Consumer Products holds a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Spectrum Brands Holdings Inc. ( SPB Quick Quote SPB - Free Report) offers a portfolio of leading brands in several product categories like residential locksets, plumbing, electric shaving and grooming products, personal care products, small household appliances, specialty pet supplies, and lawn, garden and home pest control products and repellents.
The company’s expected earnings growth rate for the current year is 21%. The Zacks Consensus Estimate for current-year earnings has improved 17% over the past 60 days. Spectrum Brands has a Zacks Rank #2.
Tupperware Brands Corporation is the leading global marketer of innovative, premium products across multiple brands utilizing a social selling method through independent sales.
The company’s expected earnings growth rate for the current year is 85.6%. The Zacks Consensus Estimate for current-year earnings has improved 60.4% over the past 60 days. Tupperware Brands Corporation sports a Zacks Rank #1.
WD40 Company ( WDFC Quick Quote WDFC - Free Report) offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and liquid forms under the WD-40 Multi-Use brand for various consumer uses and specialty maintenance products.
The company’s expected earnings growth rate for the current year is 10.5%. The Zacks Consensus Estimate for current-year earnings has improved 3% over the past 60 days. WD40 Company carries a Zacks Rank #2.
Grocery Outlet Holding Corp. ( GO Quick Quote GO - Free Report) is a high-growth, extreme-value retailer of quality, name-brand consumables and fresh products that are sold through a network of independently owned and operated stores.
The company’s expected earnings growth rate for the current year is 87.3%. The Zacks Consensus Estimate for current-year earnings has improved 25.4% over the past 60 days. Grocery Outlet has a Zacks Rank #1.
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