From Nasdaq: 2024-05-17 16:07:00

JPMorgan Chase CEO Jamie Dimon expressed concerns of an economic slowdown and potential stock market correction due to high inflation and geopolitical risks. He cited past recessions where signs were present but not expected, highlighting the need for defensive stocks like Walmart, utility companies, and gold mining stocks.

More specifically, Walmart’s Q1 results showed strong sales growth and increased operating efficiency, making it a top choice for investors during market volatility. Utility stocks like Duke Energy, NextEra Energy, and Southern Company are also attractive due to stability and dividends during heightened volatility. Gold mining stocks, such as Agnico Eagle Mines, AngloGold Ashanti, and Gold Fields Limited offer defensive safety during uncertainty.

In a surprising turn, Nvidia stands out as a potential defensive stock due to its leadership in producing semiconductor chips for artificial intelligence. Despite inflation’s typical impact on the technology sector, economic growth tied to AI demand could drive Nvidia’s success. The company currently holds a Zacks Rank #1 (Strong Buy) making it an intriguing option amid economic headwinds.



Read more at Nasdaq: Defensive Stocks to Consider Amid Jamie Dimon’s Concern for a Large Market Correction