PG, CL, and KMB are enjoying investors' rotation out of tech
The stock market is selling off, with Canada and China retaliating against President Donald Trump's tariffs, and Mexico promising to announce its response on Sunday. Consumer goods stocks Procter & Gamble Co (NYSE:PG), Colgate-Palmolive Co (NYSE:CL), and Kimberly-Clark Corp (NYSE:KMB) are evading losses, though, as investors rotate into cyclical names and out of tech.
PG Eyes 4th-Straight Gain
PG was last seen up 0.9% to trade at $177.17, and earlier gapped to its highest level since November. The shares are pacing for their fourth-straight daily gain, and finished six of the past seven weeks with gains, contributing to their 11.2% year-over-year gain.
CL Topples Resistance
CL shed 13.5% in the last six months, but is up 0.5% to trade at $93.28 at last check -- its highest level since early December. The equity is staging a bounce of a Feb. 18, 52-week low of $85.32, and looking to consolidate above the 100-day moving average after yesterday securing its first close above the trendline since October.
KMB Boasts Technical Support
KMB is up 0.2% at $143.72 at last glance, trading at its highest level since October and on track for its fifth gain in the last six sessions. Support at the 20-day moving average has contained several pullbacks since January, with the stock also toppling overhead pressure at the $140 level, which capped its January rally. So far this year, KMB has added 9.4%.