ETSY - A Bull Market Is Coming: 2 Magnificent Growth Stocks to Buy Now Before They Rip Higher
2023-08-20 05:00:00 ET
Inflation has cooled dramatically over the past year, and consumers are spending money more freely. U.S. economic growth accelerated in the second quarter due in part to a modest uptick in consumer purchases, and that momentum seems to be intensifying in the current quarter. Retail sales rose for the fourth consecutive month in July, and consumer sentiment clocked in close to a two-year high in August, according to the University of Michigan.
That optimism bodes well for the entire economy, though it has especially positive implications for commerce companies like Shopify (NYSE: SHOP) and Etsy (NASDAQ: ETSY) . But there is another dynamic at play. Given the momentum behind the economy, it should come as no surprise that the S&P 500 (SNPINDEX: ^GSPC) is just 9% from a record high, the point at which even the most conservative analysts would call a new bull market.
Why does that matter? The S&P 500 returned an average of 186% during the last nine bull markets, so many stocks will undoubtedly soar during the next one. Here's why Shopify and Etsy could be part of that number.
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A Bull Market Is Coming: 2 Magnificent Growth Stocks to Buy Now Before They Rip Higher