Major S&P 500 Stocks Hit New Highs Amid Still-Shaky Markets
Markets appeared to have calmed somewhat on Thursday after several days of selling off and weeks of sharply heightened volatility. Despite the recent market turmoil, it’s heartening to see that not every stock has been negatively affected. In fact, there are currently dozens of major stocks in the S&P 500 that are either at or very near new 52-week highs (and some all-time highs) as of Thursday.
Some of the best performing of the stocks that are hitting new highs are featured on the chart above – Proctor & Gamble (PG), Verizon (VZ), Coca-Cola (KO), Starbucks (SBUX), and McDonalds (MCD). The chart highlights (on the y-axis) the 6-month percentage performance of these stocks, each of which has far outperformed the nearly flat S&P 500 index in the past six months. It’s interesting to note that all of the highlighted stocks are dominant brand leaders in their respective industries, and all of them have enjoyed substantial double-digit returns from half a year ago up to today.
What does this tell us about the current market environment, if anything? While the major indexes that represent the overall market are still on very shaky ground, it appears to be much more of a stockpicker’s game right now. This means there are many opportunities to choose and potentially profit from high-quality stocks that are able to resist the downward pull of market volatility.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke