While the current, historically high inflation rate is of significant concern to the stock market, a surge in discretionary spending, decline in jobless claims, and estimated strong GDP growth in the fourth quarter should support the performances of the benchmark indexes. Therefore, we think the shares of Sysco (SYY), Robert Half (RHI), and RCI Hospitality (RICK), which possess solid growth attributes, could be ideal bets now. Let’s discuss.All three major U.S. stock market indices closed slightly higher yesterday. And CNBC’s Jim Cramer said that the investors should remain confident in the face of market weakness due to inflation concerns. Also, according to a FactSet report issued on November 5, 2021, analysts project earnings growth of more than 20% in Q4 2021.
Furthermore, the decline in weekly jobless claims to 267,000, an increase in discretionary spending, and the passage of a jumbo infrastructure bill by the U.S. House of Representatives last week have raised investors’ confidence. Therefore, we think it could be wise to bet on fundamentally sound growth stocks now. Investors’ interest in growth stocks is evidenced by the SPDR Portfolio S&P 500 Growth ETF’s (SPYG) 33.7% gains over the past year.
Given this backdrop, Sysco Corporation (NYSE:SYY), Robert Half International Inc. (NYSE:RHI), and RCI Hospitality Holdings, Inc. (RICK), which possess solid growth attributes, could be ideal bets now. Analysts expect their earnings could increase significantly in the current quarter and over the next few years.