Better-than-expected private payrolls, high consumer spending, and strategic policies to deal with the COVID-19 omicron variant are expected to support the stock market. Therefore, Dow stocks UnitedHealth (UNH), Walmart (NYSE:WMT), Amgen (AMGN), and Walgreens Boots (WBA), which possess strong fundamentals, could be ideal picks now. So, let’s take a closer look at these names.Dow component companies are trading higher along with a rise in the stock market today. Furthermore, some stocks showed early signs of recovery this week after vaccine manufacturers announced that they were on their way to producing vaccines to immunize against the omicron variant.
Although the economy is under inflationary pressure, a recent decline in weekly jobless claims, better-than-expected private payrolls in November, and President Biden's strategic initiatives to contain the spread of the omicron variant should keep the market’s momentum going. The surge in U.S. consumer spending over the holiday season could further strengthen investor confidence, and stocks may finish the year on a high note.
Given this backdrop, we think it could be wise to bet on fundamentally sound Dow stocks UnitedHealth Group Incorporated (NYSE:UNH), Walmart Inc. (WMT), Amgen Inc . (NASDAQ:AMGN), and Walgreens Boots Alliance, Inc. (NASDAQ:WBA). These names possess solid growth attributes and are expected to gain in price in the coming months.