It is not easy for a stock to make a profit on the worst day of the year when the S&P 500 stock is down 98%. But few have.
X.
Investors in S&P 500 stockpiled just five stocks in the S&P 500, including discount retailers. TJX (TJX), and like financial Assuring (AIZ) and Progressive (PGR), pointing to an emerging playbook by investors And it fell to S&P 500 164.17 points, or 4%, 3,923.68 in one day. This is the biggest one-day point and percentage drop in the S&P 500 since June 11, 2020, says Dow Jones. All 30 Dow Jones Industrial Average stocks fell during the day.
Investors lost more than 1.7 trillion in just one day, according to Wilshire Associates. They haven’t lost so fast in 23 months. For the year, investors have fallen below more than 10 10 trillion.
If the recession is more likely, as some think, defensive stocks may be more resilient with more stable trading. The S&P 500 is now down 18.2% from its high, close to the 20% beer market.
And this is important to more investors now. Wells Fargo announced a recession on Wednesday, now its potential estimate. “Based on the economic data trends we are tracking, we believe that the economy is now beginning to cross a potential level that makes our base case a mild recession in late 2022 and early 2023,” the Wells Fargo report said. “And we’re moving our equity sector guidelines and allocations to a more defensive position.”
S&P 500 winners
It is clear that investors feel that buyers are trying to save some money in the face of inflation. TJX, an off-price product refiner, rose 7.1% to 60.19 on Wednesday. Analysts bullish the stock, thinking it will be worth 75.10 per share in 12 months. And the company is expected to grow revenue by more than 11% this year.
Financial institutions like stable cash flow also win today. Take Assurant for example. The company offers many types of insurance for consumer purchases, such as mobile electronics. Shares jumped more than 1.3%, a direct rally during the fall of everything else. The company is expected to sell শেয়ার 12.77 billion in 2022, up 35% from the previous year.
And then there’s rock-solid progressive. Home and auto insurers rose 0.6% to 111.90 per share. This year’s profit has jumped more than 26%.
Seems stable is a good thing now.
Only the S&P 500 stock rose during the May 18 sell-off
| Company name | Symbol | Day% stock ch. | Sector |
|---|---|---|---|
| TJX | (TJX) | 7.1% | Consumer considerations |
| Assuring | (AIZ) | 1.3% | Financial |
| Progressive | (PGR) | 0.6% | Financial |
| Electronic Arts | (EA) | 0.4% | Communication service |
| EPAM system | (EPAM) | 0.1% | Information technology |
Sources: IBD, S&P Global Market Intelligence
Follow Matt Krantz on Twitter.mattkrantz
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