2 Top Stocks That Should Be on Your Radar This Spring

2 Top Stocks That Should Be on Your Radar This Spring

Posted On March 22, 2023 10:11 am

The stock market has witnessed significant volatility of late on concerns over the prospect of rate hikes and macro uncertainties. However, I present quality stocks AbbVie Inc. (ABBV) and Salesforce, Inc. (CRM), which have demonstrated resiliency during challenging times and are trading at a discount to their industry peers. These top stocks should be on your radar this spring.

According to the U.S. Bureau of Labor Statistics report, Consumer Price Index (CPI) rose by 6% from a year earlier in February. Although inflation is slowing, it is way above the Fed’s target level.

On the other hand, nonfarm payrolls rose by 311,000 in February, above the 225,000 Dow Jones estimate. As the job market remains tight despite the Federal Reserve’s efforts to slow the economy, interest rate hikes are expected to continue.

Consequently, the banking crisis, which started two weeks ago with the collapse of major banks and global lenders, has dampened investors’ sentiments. The failures of the high-profile banks are raising fears of a “hard landing.”


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