Here Are 2 Popular Stocks I'm Completely Avoiding This Year
Consumers suffer the most when inflation rises. It hits them at the grocery store, at the gas pump, and even at home, as the U.S. Federal Reserve typically raises interest rates to cool prices.
Inflation reached a 40-year high of 9.1% in June 2022, and despite some improvement since then, it will take time for it to fall in line with the Federal Reserve's target of 2%. As a result, household finances could remain tight for most of this year.
Companies like Peloton Interactive (NASDAQ: PTON) and DoorDash (NYSE: DASH) rely heavily on consumer spending, but the type of spending that is considered discretionary rather than necessary. That's just one reason to avoid them this year.
Source Fool.com
