Investors trying to keep a step ahead of inflation are seeking out travel firms in addition to energy and utilities shares
Investors have been searching for clues that the surge in inflation is nearing a peak. And they arefor indications as to whether higher costs are weighing on profits. Analysts expect the S&P 500 net profit margin to come in at 12.1% for the first quarter, continuing a decline from a high of 13.1% in the second quarter of last year but still above the five-year average of 11.2%, according to FactSet.
Jay Hatfield, chief executive and portfolio manager at Infrastructure Capital Advisors, said that on Wednesday he bought shares of Delta as well as hotel-focused, real-estate investment trusts. He was impressed by Delta’s high level of bookings. Some investors said the market’s recent embrace of airline stocks stemmed in part from the relative lack of options for consumers looking to fly. It could be more difficult for a consumer-staples company to significantly raise the price of paper products, for example, without customers fleeing to a competing brand.
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