Stocks have been getting hammered but these defensive consumer names are holding up
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Investors are playing defense by taking refuge in some value stocks in the consumer sector as high-multiple tech and online retail pandemic favorites continue to get battered over concerns about higher interest rates, a spending slowdown, and inflation headwinds.
McDonald's (NYSE:MCD) is 0.25% higher on the day and one of only three Dow 30 stocks in positive territory.
Solid earnings reports have helped push Kellogg (NYSE:K) +1.80%, Post Holdings (NYSE:POST) +5.21%, and Monster Beverage (NASDAQ:MNST) +1.34% higher.
Defensive dividend-paying names like J.M. Smucker Company (SJM) +1.21%, Campbell Soup (CPB) +1.11%, McCormick & Company (MKC) +1.15%, Kroger (KR) +1.50% and Clorox (CLX) +0.99% all showed gains on Friday and have been year-to-date outperformers in general.
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