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Today's big stories

Economic activity is on the up around the world, but it might be a case of too much, too soon
If you’re looking for stocks that are both inflation-proof and cheap, there’s one group that fits the bill exactly – Read Now
Agricultural equipment-maker Deere posted earnings that surged past analysts’ expectations

Hired Muscles

What’s Going On Here?

Crack out the unitard, because fresh data out Friday showed the global economy working up a sweat in May as activity levels jacked ever higher.

What Does This Mean?

Monthly business activity surveys ask managers all over the world just how busy they’ve been compared to the month before, giving observers a near real-time picture of economic performance. And with lockdowns easing, it seems everyone’s been rushed off their feet: manufacturing and services activity in both the US and UK not only rose compared to April, but they hit their highest combined level in any month ever (tweet this). The eurozone wasn’t far behind, with overall activity increasing in May. And while the region’s manufacturing industry remains somewhat hamstrung by supply and labor bottlenecks, the easing of pandemic-related restrictions gave its services industries a major boost.

Why Should I Care?

The bigger picture: The economy’s on steroids.
Manufacturers’ costs have risen rapidly lately, partly because of shortages of things like microchips, and partly because hiring difficulties could be forcing firms to offer higher wages. That might sound great, but it raises two serious risks: lower company profits (and potentially share prices) and a drop in economic activity. Central banks have their ways of keeping a lid on those rising costs, but the mere whisper of interest rate hikes anytime soon would likely send investors scurrying away from the stock market.

For markets: European stocks or American stonks?
Big investors seem to think European stocks are the place to be right now: they’re set up to outperform their US equivalents thanks to cheaper valuations and stronger earnings growth. But in the long run, analysts agree it’s tough to ignore Big Tech stocks: consistently high growth from the likes of Apple, Facebook, and Amazon just isn’t available in Europe.

You might also like: The ins and outs of picking the right investment fund.

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2. Analyst Take

This Group Of Stocks Is In A Perfect Position

What’s The Opportunity On Here?

Between fears of inflation and expensive stock valuations, investors are looking for an investment that’ll protect them from sudden price rises and something that comes cheap.

And there’s one group of stocks that fits the bill perfectly.

See, when inflation goes above 5%, it’s these stocks – much more than high-profile tech stocks, say, or even corporate bonds – that offer the best chance of inflation-beating returns.

And here’s the thing: a lot of investors don’t realize how cheap they are, given how expensive their price-to-earnings ratio makes them look.

So that’s today’s Insight: which category of stocks are cheap and inflation-proof, and how best to invest in them.

Read or listen to the Insight here

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