With the Dow falling almost every day for the last 9 trading sessions, consumer goods stocks and pharma stocks were in demand as Clorox and Eli Lilly each moved up one place in the list.
Home Depot’s recent rating upgrade saw the stock move up two places from 66 to 64, which was on the back of another 2-place move that the stock saw last week. Clorox has also been trending on the list as its strategic acquisitions and its 14% dividend hike have been drawing a lot of investor attention.
Eli Lilly, which recently witnessed almost a 10-place jump on the list, saw its position further strengthen as the stock now stands in 68th position.
DARS rating upgrades and dividend increases seem to have a direct correlation with stocks moving up the list. Specific sectors such as consumer goods and home improvement stocks have shown positive movement when Trump initiates “Trade War” comments and the stock market nosedives.
As the Dow is likely going to hit a key support level of 24,000 over the next few trading sessions, one can expect stocks like General Mills, Clorox and Kellogg’s to do even better as nervous investors are likely to buy these defensive stocks to hedge their portfolios.
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