High inflation, stronger-than-expected jobs growth, and tighter lending standards in the wake of the banking crisis are fueling the fears of a recession later this year. Although the Fed had indicated that there could be a pause in interest rate hikes, the recently released strong macroeconomic data is increasing the odds of another rate hike this month.
In this scenario, investors could look to follow where institutions are investing their money in. Fundamentally strong stocks, Salesforce, Inc. (CRM), Chipotle Mexican Grill, Inc. (CMG), and Cohu, Inc. (COHU), are attracting the attention of smart money. Therefore, it could be wise to buy these stocks.
