As trade war chaos envelops asset classes from stocks to commodities to currencies, defensive corners of the market like consumer staples and utilities have fallen back into favor. Within consumer staples, one name that may fly under the radar for some investors has acted particularly well, catching my eye in recent sessions.
While the staples-tracking XLP ETF has seen a notable gain just in the last month and a half, food and commodities processing company Archer Daniels Midland, one of the XLP’s components, has been climbing upward all year.
Archer Daniels Midland year to date
In fact, the stock has jumped more than 15 percent year to date, and on Wednesday fell modestly to snap its longest daily losing streak of the year.