The Morningstar US Defensive Super Sector Index fell 3.6% last year, far outperforming the broader market.

The mega caps continue to lose shareholder value, including Amazon, Apple, Google, Microsoft, Meta and Tesla.

Morningstar listed what it saw as the best stocks to own within in the consumer-defensive sector.

Household products maker says products were produced over the last 20 months

The economy shrank 1.6% in the first quarter and 0.6% in the second. And inflation hit 8.2% for the latest 12 months.

Recession-resistant companies are usually financially healthy and very profitable, Morningstar said.

Stocks finished little changed as investors assessed additional earnings reports and await key economic numbers Friday that will provide further clarity on the direction of the economy.

Technically, it's low beta stocks. Beta measures a stock’s volatility compared with the market as a whole.

The S&P 500 has tumbled 19% so far this year, and the CBOE Volatility Index has jumped 77%.

"A continued recovery of cross-border travel," helped Visa post better-than-expected first quarter earnings.

"While the full-year 2022, and particularly the fourth quarter, represented a challenging moment for Hasbro, we are confident in our Blueprint 2.0 strategy," said CEO Chris Cocks.

The world's largest automaker by sales volume just made a big change to its C-Suite.