Are We Heading for Recession? These Surging Stocks Point to No
Here are seven charts suggesting investors are relatively confident the expansion will live on.
(Bloomberg) -- With economic indicators flashing warning signs about the health of the U.S. economy, you might think companies that would suffer in a downturn are in trouble in the stock market. They aren’t. Here’s a look at seven charts suggesting investors are relatively confident the expansion will live on.
Apple
The iPhone maker has regained its mantle as the world’s most valuable company and closed at a fresh record Friday ahead of its earnings report next week.
Winnebago
The RV maker’s shares surged Wednesday after reporting profit that beat analyst estimates. The stock closed at the highest since January 2018.
Cummins
The engine maker is trading at the highest since February 2018 and is scheduled to report earnings next week. It’s a top supplier for Paccar Inc., Navistar International Corp. and Deere & Co.
PPG Industries
The paint company closed at a record on Oct. 22.
Brunswick
The boat maker is trading at the highest in more than a year after reporting profit that beat the highest analyst estimate.
Applied Materials
The world’s largest supplier of equipment used to make semiconductors closed at the highest since April 2018 on Friday. Intel Corp., Taiwan Semiconductor Manufacturing Co. and Toshiba Corp. are some of its biggest customers.
Whirlpool
The maker of home appliances is near the highest since May 2018 after exceeding estimates for profit from continuing operations earlier this week. It’s a major supplier to Lowe’s Cos. and Home Depot Inc., according to data compiled by Bloomberg.
To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net
To contact the editor responsible for this story: Catherine Larkin at clarkin4@bloomberg.net
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