Excessive Consumer Spending Is Over! Time to Sell These 3 Stocks

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While the U.S. economy has proved surprisingly resilient in 2023, the majority of economists are still calling for a recession in the next 12 months. Meanwhile, the Conference Board’s consumer confidence index hit a six-month low last month. Although the macroeconomic picture can best be described as murky, consumer discretionary stocks have been the third-best performing S&P 500 sector of 2o23, after technology and communication services. That makes now a good time to consider whether some names have gotten too far ahead of themselves and should be added to your list of retail stocks to sell.