Consumers Send a Bullish Signal in June: 2 Magnificent Growth Stocks to Buy Now and Hold Forever

The Michigan Consumer Sentiment Index reached 63.9 in June 2023, up from a record low of 50 in June 2022. That uptick in optimism comes as inflation continues to cool, and it hints at stronger consumer spending in the coming months, which bodes well for Shopify (NYSE: SHOP) and (NASDAQ: ETSY) shareholders.

More importantly, both companies are backed by a solid long-term investment thesis. Shopify and Etsy will undoubtedly benefit as online shopping continues to make up a greater share of retail spending in the years ahead, and both stocks could soar as rising consumer sentiment helps usher in the next bull market.

Here's what investors should know.

Source Fool.com