Investors should focus on what stocks went up in March, April and May of 2020 considering rising COVID-19 outbreaks and the delta variant. I like consumer staples stocks because they offer defense and have low volatility. And if the market reverts lower, they typically move higher. So I’ve picked out three of the strongest stocks in this sector — and more in today’s stock market recap.
Stock Market Recap
Global markets are mixed with COVID-19 outbreaks continuing to rise in Asia and positive earnings dominating U.S. stocks.
Positive earnings take the stage as delta variant fears are temporarily muted. This isn’t the case everywhere as Thailand implemented additional restrictions following a daily record increase in cases on Friday. Trading was mixed in Asia while U.S. and European markets opened higher.
The Federal Reserve will hold a two-day policy meeting next week to discuss a change in stimulus efforts. Inflation has been the main topic of recent Fed meetings. This will also be the first major meeting after the resurgence of COVID-19 fears in the U.S.
Bonds are back down after breaking through the 200-day moving average. The bond market is likely to revert to the downtrend it’s had most of this year — especially if the economy continues to rebound and interest rates rise.
Roger’s Radar: Top Performing Defensive Stocks
Coca-Cola Consolidated Inc. (NYSE: KO) has been on a strong upward trend since February. It beat second-quarter earnings expectations and raised its 2021 organic revenue growth projections. I love KO, although I’d wait for a small pullback before entering.
The second stock, according to the company’s website, is the “global leader in prestige beauty.” It has a one-year return of 66.99% and a market cap of $118 billion. The third stock is the fifth largest retailer in the world and runs a chain of membership-only stores. These stocks are defensive but also provide upside potential if we experience another market cooldown.
In this video, you’ll discover how earnings impact the stock market… whether bonds will rise or fall… the top sector for low risk… and three hot stocks on my radar right now.
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Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.