Continue Reading Below
“Move on shore, move to U.S. focus ... focus on consumer stocks. A Verizon or a Walmart, something that’s going to earn income based on the strong U.S. consumer and you’ll be just fine,” Blancato told FOX Business’ Charles Payne Monday on “Making Money with Charles Payne.”
The markets plummeted Monday over the escalating trade tensions, with the Dow falling more than 700 points, while the S&P fell by 3.7 percent.
Blancato explained why he thinks consumer stocks like Costco are still attractive, despite the uncertainty around the trade war.
|COST||COSTCO WHOLESALE CORPORATION||304.54||+0.88||+0.29%|
|VZ||VERIZON COMMUNICATIONS INC.||59.44||-0.07||-0.12%|
“Costco for example, pays a very nice dividend ... consumer focused ... they make a ton of money on their credit card, great balance sheet. They’re a little expensive right now because they had a heck of a run, but that’s a stock that’s going to weather the storm much better than an Apple or something that’s really going to be ... hit hard by the tariff battle,” he said.