(C) Reuters. 4 Top-Notch Blue-Chip Stocks to Buy Right Now
Blue-chip stocks represent large, established businesses with robust financials and sound business models. While investors appear pleased with the government’s stimulus measures and improving employment data, the rising inflation rate is a cause for their concern. Given current market volatility, blue chip stocks are among the safest bets because among the qualities for which they are known are stable returns with negligible risks. So, we believe McDonald’s (MCD), Starbucks (SBUX), 3M Company (NYSE:MMM), and Altria Group (NYSE:MO) could be worth adding to one’s portfolio now.The U.S. economy has been exhibiting a solid recovery this year, as evidenced by its 6.4% annual GDP growth in the first quarter. Among other favorable economic data, consumer spending is steadily returning to pre-pandemic levels thanks to governmental rescue packages and steady job growth. However, rising purchasing power is creating inflationary pressure in the economy and, thus, introducing volatility to the markets.
In these circumstances, we think blue chip stocks are the best picks. Blue chip stocks represent large, well-known companies that are known for their financial resiliency and balance sheet strength. While blue chip stocks are not immune to market downturns, they are the favorites of low-risk investors because they have a history of delivering steady returns over the long-term and offer protection during short-term market fluctuations.
Given this backdrop, we think it is wise for investors to scoop up fundamentally-sound blue chip stocks McDonald’s Corporation (NYSE:MCD), Starbucks Corporation (NASDAQ:SBUX), 3M Company (MMM), and Altria Group, Inc. (MO). They have shown decent strength over last year and are well-positioned to offer attractive returns this year.
4 Top-Notch Blue-Chip Stocks to Buy Right Now
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