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Worried About the Omicron Variant? Consider Buying These 5 Consumer Defensive Stocks -Breaking

by Mike Robinson

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© Reuters. Be Concerned about the Omicron Variant You might consider purchasing these 5 consumer defensive stocks

Fears that Omicron coronavirus could cause a disruption to the world’s economic recovery caused stocks to plummet last Friday. In the short term, this, together with rising input costs and supply chain restrictions, may cause a correction. Therefore, dividend-paying consumer defensive stocks Walmart (NYSE:), Procter & Gamble (PG), Costco Wholesale (COST), PepsiCo (NASDAQ:), and Philip Morris (PM) could be good bets.Despite resurging COVID-19 cases, rising inflation, a slowdown in third-quarter GDP growth, and supply chain logjams, retail sales increased 1.7% month-over-month in October, owing to declining jobless claims each week and rising consumer spending ahead of the holiday season.

Last Friday saw major stocks fall due to concerns that the Omicron coronavirus variant was affecting the world’s economic recovery. The stock market could be under pressure soon due to supply chain restrictions and rising input costs.

It could make sense to invest in consumer-friendly dividend paying stocks as a hedge to protect your portfolio from a downturn. Inelastic product demand makes consumer defense stocks a great investment. Walmart Inc. (WMT), The Procter & Gamble Company (PG), Costco Wholesale Corporation (NASDAQ:), PepsiCo, Inc. (PEP), and Philip Morris International Inc. (NYSE:) have the potential to deliver solid returns, dodging the market fluctuations caused by Omicron and high inflation.

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