Old Guard Stocks DuPont, Ford Outperform New as Defense Looks Good
Old guard stocks like DuPont and Ford are performing better than tech stocks like Apple as the market moves towards a defensive position.
Stocks are kicking it old school as names like DuPont, U.S. Steel and Ford are all moving higher while Apple struggles. Keith Bliss of Cuttone & Co. believes investors are showing their displeasure with the prices for tech stocks but seeing value in the old-guard names. Earnings from these companies haven't been spectacular, but tech stocks can't seem to please their shareholders with record sales, creating a defensive cycle.
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