Earlier this month, the better-than-expected consumer price index reading of 7.7% provided investors with a respite from the downturn in financial markets that has largely persisted throughout this year. But even after the rally that ensued following the release of this economic data, the S&P 500 index is still down 17% so far in 2022.
But by employing a long-term investing mindset, investors can use this market downturn to their advantage. I recently added to my positions in the home improvement retailer Home Depot (NYSE: HD) and the tobacco giant British American Tobacco (NYSE: BTI) . Let's dig into the buy cases for both stocks.
With a $314 billion market capitalization , Home Depot is the dominant home improvement retailer on the planet. As dominant as Home Depot is within its space, however, investors may be shocked to learn that the company's retail share of the $900 billion U.S. home improvement market was just 15% in the prior fiscal year. For context, this was considerably greater than Lowe's 10% retail share.
For further details see:
Stock Market Plunge: Why I'm Loading Up on These 2 Stocks