Why Consumer Staples Stocks Lamb Weston, Conagra, and Philip Morris Rallied Today Even as the Market Plunged
Shares of consumer staples giants Lamb Weston (NYSE: LW), Conagra (NYSE: CAG), and Philip Morris International (NYSE: PM) all rallied today, up 9.7%, 1.5%, and 4%, respectively. The results were all the more notable as the S&P 500 index plunged 4.8% following yesterday's tariff announcements.Lamb Weston is a large producer and distributor of frozen potato products to restaurants and supermarkets -- essentially, french fries. Conagra sells branded food products under various familiar brands like Slim Jim, Healthy Choice, Bird's Eye, Duncan Hines, and others. And Philip Morris is the well-known cigarette and tobacco producer.The common thread among these three stocks is that they are considered defensive and recession-resistant. So, it's not surprising on a day like today, when the market is fearing a global recession due to yesterday's sweeping tariff announcements, that investors are selling economically sensitive stocks and piling into these seemingly recession-resistant plays. Continue reading
Shares of consumer staples giants Lamb Weston (NYSE: LW), Conagra (NYSE: CAG), and Philip Morris International (NYSE: PM) all rallied today, up 9.7%, 1.5%, and 4%, respectively. The results were all the more notable as the S&P 500 index plunged 4.8% following yesterday's tariff announcements.
Lamb Weston is a large producer and distributor of frozen potato products to restaurants and supermarkets -- essentially, french fries. Conagra sells branded food products under various familiar brands like Slim Jim, Healthy Choice, Bird's Eye, Duncan Hines, and others. And Philip Morris is the well-known cigarette and tobacco producer.
The common thread among these three stocks is that they are considered defensive and recession-resistant. So, it's not surprising on a day like today, when the market is fearing a global recession due to yesterday's sweeping tariff announcements, that investors are selling economically sensitive stocks and piling into these seemingly recession-resistant plays.
