The major stock market indexes have witnessed heightened volatility since the beginning of the year due to soaring inflation, the Fed’s tightening monetary policy, supply chain disruptions, and the geopolitical tensions surrounding Ukraine and Russia. In the last trading session, Dow Jones fell 0.8%, while the Nasdaq composite and S&P 500 dropped 0.7% and 1.1%, respectively. According to CNBC’s Jim Cramer, the stock market is worried that skyrocketing oil prices, which reached their 13-week high on Wednesday, might cause a recession in the economy.
Amid the current market volatility, companies providing durable products tend to remain resilient. According to the Census Bureau, new orders for manufactured durable goods increased by $1.2 billion, or 0.4%, to $265.3 billion in April.
