Consumer staples outperform as investors flock to safe-havens
Seeking Alpha News (Thu, 10-Apr 4:33 PM)
A few winners emerged from Thursday’s rout on Wall Street as investors poured into safe-havens, including consumer staples like BJ’s Wholesale Club (NYSE:BJ), Kroger’s (NYSE:KR), and Ollie’s Bargain Outlet (NASDAQ:OLLI), all of which closed with modest gains given their resilience in times of economic uncertainty.
Other notable gainers within the consumer defensive sector include: Pilgrim’s Pride (NASDAQ:PPC), Cal-Maine (NASDAQ:CALM), Kimberly-Clark Corp (NYSE:KMB), Colgate-Palmolive (NYSE:CL), Coca-Cola (NYSE:KO) (NASDAQ:COKE).
Conversely, others within the sector that limped into the close weigh heavily towards cosmetics including Estée Lauder (NYSE:EL), Coty (NYSE:COTY), Interparfums (NASDAQ:IPAR), and e.l.f. Beauty (NYSE:ELF), and specialty foods like Performance Food Group (NYSE:PFGC), US Foods Holding (NYSE:USFD), Smithfield Foods (NASDAQ:SFD), and Lamb Weston (NYSE:LW).