As the global AI-selloff is upon us again, we took a moment to reflect on the overall U.S. economy.

Inflation is running hot again at 3.7% for September 2026, as high fuel costs remain.

More and more U.S. consumers are looking at deals, discounts and promotions from retailers to deal with the higher cost of living.

This week, we look at three proven consumer staples players that could withstand this high-inflation period.

Before we proceed, we have some interesting content this week that might change how you think about your portfolio!

SpaceX - Tesla $SPCX ( ▲ 1.89% ) $TSLA ( ▼ 0.63% ) : Elon Musk might want to rival the richest person on Earth in history - the King of Babylon. He has sounded off again the idea of SpaceX and Tesla merging to form a US$3.5 trillion company. However, regulators might have something to say about that as the companies might be hit [Read More]

Netflix $NFLX ( ▼ 1.79% ) : Netflix is in danger. Latest financial results show that revenue grew by 12% and earnings per shar beat expectations. But investors are now worried that the streaming giant’s growth is slowing. Its chief content officer, Bela Bajaria has left the company with former Disney executive Peter Rice tapped as the replacement. [Read More]

Meta $META ( ▼ 0.96% ) : Fresh off of paying a record settlement/fine of US$25 billion, the company recorded a record financial quarter. Revenue is up by 26% as CEO Mark Zuckerberg emphasised the release of its new AI models, Muse and Muse Wonder. It is now raising guidance for the year. [Read More]

Procter & Gamble $PG ( ▼ 2.12% ) : Warren Buffett and Greg Able are smiling. Financial results beat expectations with revenue up by 4%, even though consumer demand is slowing amid the rise in fuel costs. However, profits were unchanged from a year ago. [Read More]

United Airlines $UAL ( ▼ 3.99% ) : United Airlines are letting its customers eat the fuel costs. In its latest results, it said that additional fuel spending made up 70% of the increase in quarterly revenue. Even though fares are higher, the company’s margins narrowed to 6.2% from 8.0% a year earlier. [Read More]

CATL: Trouble at CATL, the world’s largest EV battery maker. Profit only grew at 14.5% as global EV sales cooled. Analysts were expecting 41%. This pessimism came despite a 58.6% growth in revenue, and BYD is taking some market share from the company. [Read More]

Mi Material IPO: Mi Material is looking to list on the Singapore Exchange Mainboard to raise about SG$215 million to build a research and development centre in the U.S. The company will use it as a demonstration centre for its U.S.-based clients. [Read More]

Keppel REIT: Keppel REIT is proposing to buy 51% of Keppel South Central for SG$611 million from its sponsor, Keppel. The 33-storey Grade A commercial development has just been completed in Tanjung Pagar, Singapore. [Read More]

OUE REIT: OUE REIT’s net property income rose by 4.6%, driven by its stronger hospitality segment. Revenue per available room rose by 8.2% to SG$302. However, its commercial segment’s net property income declined by 1.5% as OUE Downtown Office undergoes tenant transition [Read More]

Bukit Sembawang: Bukit Sembawang is looking to acquire a 5.1ha portion of the 13ha Kallang Distripark site for around SG$196 million. Plans are to develop a non-landed, leasehold, private residential development with commercial space and new roads [Read More]

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👆️ Inflation-Resistant Case: U.S. Shoppers flock to CostCo to buy things in bulk through their membership channel. In times of inflation, this has proven to be the go-to for many U.S. consumers.

CostCo’s business model is to reduce cost per unit, but sell in bulk to their customers. For the month of September, sales at its stores are up by 11.4% where sales in the U.S. drove much of the sales increase.

This actually marks an increase in sales compared to 3Q 2026 (+9.4%) (4Q in CostCo’s reporting period).

💪 Investment Case: Valuations are rich now as the company trades at a price-to-earnings ratio of 48 times but investors like their defensive quality in times of inflation.

However, the company has a very strong balance sheet to withstand risks and shocks to the overall economy. Its debt to equity ratio has been steadily declining since 2021.

❓  Market Analysts: Average target price is at US$1,076 with an implied upside of +5.7%

👆️ Inflation-Resistant Case: Walmart has had its struggles, but it’s undeniable that it is still the largest retailer in the U.S. It is adopting memberships similar to CostCo through Walmart+ and Sam Club for consumers that are cash-strapped and looking for deals.

Sam Club delivered a stable 4.4% comparable sales growth in 2Q 2026 (2Q 2027 in Walmart’s reporting period).

💪 Investment Case: Same with CostCo in terms of valuation. Price-to-earnings ratio is rich at 43.5 times but investors are holding on to Walmart due to its dominant market position in the U.S.

Walmart is quite dependent on debt as it has consistently registered a debt to equity ratio that is about 50% in the past few years. While we do think this is fine due to its high interest coverage ratio of 14 times, but we do think high indebtedness in a weak economy could pose risks to its short-term financial health.

❓ Market Analysts: Average target price of US$129.15 with an implied upside of +6.6%.

👆️ Inflation-Resistant Case: Everyone uses shampoos, toothpastes, and other daily necessities. Procter & Gamble is boring but we can guarantee that every U.S. consumer needs what they are selling.

At the current stage, it is rolling out promotion and discount bundles to entice consumers to buy more of them as inflation comes in hotter every month.

💪 Investment Case: We do think there is a slight undervaluation here, even though share price has increased sharply in the past 3 months.

Price-to-earnings ratio currently stands at about 24 times, which is comparatively cheaper than its peers’ average of 28 times.

❓  Market Analysts: Average target price of US$170.24 with implied upside of +2.8%.