Top stocks like Abbott Laboratories and TJX Companies outperformed in downbeat market

From CNBC: 2024-09-12 10:46:10

Since the CNBC Investing Club’s August Monthly Meeting, the S & P 500 rose 1.8%, the Dow Jones Industrial Average rose 2.1%, and the Nasdaq Composite rose 0.9%. However, concerns about the artificial intelligence boom and Federal Reserve policy have caused market volatility in recent weeks. The S & P 500 had its worst week since March 2023, influenced by a weaker-than-expected August jobs report and Nvidia’s decline. Despite market fluctuations, the Club made strategic moves, including trimming shares of Eli Lilly and Procter & Gamble and boosting positions in Dover and Nextracker. Additionally, a stake in Home Depot was initiated. Defensive stocks like Abbott Laboratories and TJX Companies were top performers since the August Monthly Meeting, alongside Amazon, Best Buy, and Advanced Micro Devices, which have shown gains attributed to various factors such as positive earnings reports and market sentiment. Advanced Micro Devices increased by 11.5% over three sessions alone due to optimistic updates on AI demand and support from cloud computing partner Oracle. Abbott Laboratories experienced a 6.1% increase following the launch of Lingo, its first over-the-counter continuous glucose monitor in the U.S. The S & P 500’s health care sector slightly outperformed the index’s rise since the August Monthly Meeting. Traders work on the floor at the New York Stock Exchange on Sept. 4, 2024, symbolizing the ups and downs in the stock market.



Read more at CNBC:: Top 5 stocks in a downbeat market since the August Monthly Meeting