Stronger-than-expected economic data, including solid job growth and a robust labor market in January, shows that the economy remains resilient, despite the Fed’s interest rate hikes. After producing one of its worst returns in history last year, the S&P 500 could rebound sharply this year amid an improving economic outlook. Therefore, it might be wise to invest in quality S&P 500 stocks Visa Inc. (V), Johnson & Johnson (JNJ), and Merck & Co., Inc. (MRK).
Despite high borrowing costs, the economy looks resilient so far this year, with strong retail sales and a robust labor market. Continued economic resilience raised investors’ hopes of the economy achieving a soft landing.
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