On Wednesday, we saw broad-based selling with no sector immune to the stock market slide.
The S&P/TSX composite index plunged 355 points, or 2 per cent. Profit taking, margin calls, and algorithm trading all helped accelerate losses into the closing bell. The CBOE volatility index, or VIX, commonly used as a stock market fear measure spiked to 37 from 24 during the trading session.
For investors wanting some downside protection during periods of market volatility, stocks in the consumer staples sector offer potential price appreciation combined with dividend income. On Wednesday, consumer staples stocks held up better than the S&P/TSX composite index with eight out of the 11 stocks in this sector declining by 1 per cent or less.
Interestingly, every single stock in this sector has a double-digit expected price return, and this doesn’t include the dividend yield.
The remaining 10 stocks in the S&P/TSX consumer staples sector are ranked by expected price return.
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JWEL was ranked third overall and one of only two companies to have unanimous buy recommendations ((9/9). GLTA