Consumer staples stocks buck broader market selloff
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Consumer staples stocks served their purpose as safe havens amid market volatility on Friday.
An overheated CPI print on Friday morning prompted a widespread selloff that hit everything from tech to energy to financials. Amid the bearish action, only a select few S&P stocks were left hanging onto only modest gains. 
Indeed, only 20 stocks in the S&P were able to muster a gain of more than 1% shortly before Fridayâs close while about half of the indexâs 504 stocks marked a greater than 2% decline. Gold miner Newmont Corporation (NEM
+4.0%) led the index, while Illumina (ILMN
-9.1%) Caesars Entertainment (CZR
-8.8%) and Etsy (ETSY
-8.6%) jockeyed for position as the worst performer shortly before the close of the week.
Yet, of particular note on a sector basis was the performance of consumer staples stocks that made up the bulk of the indexâs gainers on a down day for major indices, reflected in the action of the Consumer Staples Select Sector SPDR Fund (XLP
+0.2%). As inflation worries increase and high-flying tech stocks are crushed, the slow and steady staples stocks appeared to serve their slow and steady purpose.
Notable gainers in afternoon trading included:

The Hershey Company (NYSE:HSY
+2.2%)
Altria (NYSE:MO
+1.3%)
Philip Morris (NYSE:PM
+1.4%)
Kroger Company (NYSE:KR
+1.8%)
Kellogg Company (K
+1.9%)
Hormel Foods Corporation (HRL
+1.7%)
JM Smucker (SJM
+1.3%)
McCormick & Company (MKC
+0.7%)
+1.3%)
Conagra Brands (CAG
+1.2%)
Kraft Heinz (KHC
+0.7%)
General Mills (GIS
+1.1%)
PepsiCo. (PEP
+0.5%)
Kimberly Clark Corporation (KMB
+0.8%)
Colgate Palmolive (CL
+0.3%)
Church & Dwight (CHD
+0.1%)
Procter & Gamble (PG
+0.2%)
Campbell Soup Company (CPB
+0.2%)

Read more on earnings expectations for Kroger next week.