the dow It fell about 80 points by mid-afternoon Monday but is still up 14% this month, putting it on track for its best monthly gain since January 1976.
Yet blue-chip stocks remain down nearly 10% this year. Meanwhile, the S&P 500which was down 0.6% on Monday, is down nearly 20% in 2022. nasdaqwhich was almost 1% lower on Monday, has plunged 30% this year.
Still, it’s fitting that on Halloween, candy maker Hershey
(HSY) It is trading at an all-time high and is up 25% this year. But overall, there haven’t been too many sweet kisses for investors this year: Despite a fierce rally so far in October, there are far more losers than winners on Wall Street in 2022.
Stocks of large tech, industrial and consumer discretionary companies have been hit hard in 2022. Intel
(LICENSED IN LETTERS)Disney
(CSCO) and Verizon
(VZ) they’re down more than 25% in 2022. That’s almost half of Dow stock.
Technology is also getting crushed in the S&P 500. Facebook owner Metaplatforms has submerged over 70% this year and is now trading at its lowest level since January 2016. PayPal
(PPYL)giant nvidia chip
(NVDA) and netflix
(NFLX) all have lost more than half their value as well.
Chevron is even trading near an all-time high. So is rival (and former Dow component) Exxon Mobil.
(XOM). Big Pharma leader Eli Lilly
(LLY) and health insurers Cigna
(IC) and human
(HUM) they are also at all-time highs.
It’s not just energy and healthcare stocks that posted strong gains this year. Several consumer staples companies, companies that sell food and beverages, are also thriving. mcdonald’s
(ENERGY) and cereal manufacturers General Mills
(NEXT) and post
(MAIL) recently reached all-time highs.
Also in the highest club of all time: Lockheed Martin Defense Contractors
(LMT) and Northrop Grumman
(MET) and progressive
(PGR)Autozone auto parts retailers
(AZO) and O’Reilly Automotive
(ORLY) and wireless giant T-Mobile
There is a saying on Wall Street that there is always a bull market somewhere. This list of brand-name stocks trading at record highs is further proof of that point.
However, it is undeniable that the broader market is struggling this year due to concerns about inflation and the fact that the Federal Reserve has raised interest rates significantly to try to beat the scourge of rising prices.
There are growing concerns that the Fed has arrived too late to start fighting inflation and now risks sending the economy into a recession next year as it appears to be playing catch-up with its series of aggressive rate hikes. .