5 blue chippers to buy to ride out the double dip MINNEAPOLIS ( Stockpickr) -- According to the market, a double-dip recession is upon us. Finally, on Wednesday, the S&P 500 broke its seven-day losing streak and the Dow avoided its ninth day of losses as stocks finished slightly higher across the board.
The losing streak was the worst we had seen since the 2008 financial crisis. Being the forward-looking instrument it is, the market is clearly placing bets on consecutive quarters of negative economic growth.
The recent losses were apparently about much more than the debt ceiling debate, which resolved itself by the Aug. 2 deadline. Rightly so, the market cares more about things such as jobs and GDP growth. With weakness in those categories, stocks are likely to struggle. It matters little that corporate earnings are for the most part strong, with many companies increasing future guidance.
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