Just because it's earnings season doesn't mean we don't still have stock pitches for your consideration!
Despite its positive performance over the past month, the S&P 500 is still down 13% in 2022. After peaking around the start of the year, the broad stock index has trended lower thanks to macroeconomic concerns, mainly around the ongoing soaring inflation. A surge in consumer demand following the depths of the pandemic, coupled with struggling supply chains, has led to rising prices across the economy.
There is one tried-and-true way of investing in hard times: Find companies that thrive in recessions, ones that people turn to when money is tight, such as Dollar General (NYSE: DG) and Costco Wholesale (NASDAQ: COST). Both are solid defensive choices for investors in a downturn. Dollar General chief operating officer Jeffrey Owen was promoted to be the company's CEO last month when Todd Vasos stepped down after seven years.