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Best Stocks To Buy Now? 5 Consumer Stocks To Watch Today

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Jul 07, 2021 (StockMarket.com via COMTEX) -- Do You Have These Top Consumer Stocks In Your Watchlist This Week?

As the focus on consumer-based businesses continues to grow, consumer stocks could likely continue to gain in today's stock market . Understandably, consumer spending power could be on the higher end of the spectrum now thanks to several factors. This would boil down to a combination of saved up stimulus aid and the economy reopening. Additionally, as more consumers get fully vaccinated, there would be more viable means of spending their discretionary funds. Given all of this, it would make sense then that investors are turning their radars towards consumer stocks .

For instance, we could look at cruise line stocks such as Royal Caribbean ( NYSE: RCL ) and Carnival Corporation ( NYSE: CCL ). Last week, Royal Caribbean launched the first passenger cruise voyage from U.S. ports since the pandemic first hit. Following that, Carnival also made a similar move over the 4 [th ] of July weekend. With both stocks trading below their pre-pandemic levels, some would argue that they could have more room to grow. Elsewhere, while parts of the world return to normalcy, more consumer markets are being established now. In particular, Virgin Galactic ( NYSE: SPCE ) continues to fuel the hype around commercial space travel. Just last week, founder Richard Branson revealed that he would be on the company's maiden voyage on July 11.

For the most part, these are but two instances of exciting plays in the consumer industry now. Moreover, there is also the factor of strong consumer spending trends across the retail and entertainment industries. Having read all this, you might be interested to add some consumer stocks to your portfolio as well. In that case, here are five names to watch in the stock market today .

Top Consumer Stocks To Buy [Or Sell] This Month

Nike Inc.

Nike is the world's leading designer and distributor of authentic athletic apparel and equipment. Its products are used in a wide variety of sports and fitness activities. In fact, it is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment. The company also owns Converse, which designs and markets athletic lifestyle footwear. NKE stock has been up by over 15% since its fourth-quarter financial reporting.

In it, the company posted revenue of $12.3 billion, up by 96% year-over-year. Specifically, its Nike Direct fourth-quarter sales increased by 73% to $4.5 billion. Nike also posted diluted earnings per share of $0.93 for the quarter.

The company said that its fourth-quarter revenue growth was led by higher wholesale shipments due to the annualization of coronavirus-related physical retail closures in the prior year. Its e-commerce platform, Nike Brand Digital also delivered strong revenue growth for the quarter. With that in mind, will you consider NKE stock a buy?

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