Investors' concerns of a potential recession contributed to a global market sell-off Monday, but Goldman Sachs sees a way to play a hypothetical economic downturn. Following Friday's weaker-than-expected jobs report for July, the S & P 500 and the Dow Jones Industrial Average saw their worst sessions in nearly two years on Monday. That day, Japan's Nikkei 225 also saw its worst session since Wall Street's "Black Monday" in 1987.
Global markets then rebounded Tuesday, but investors remain on edge. In the face of these concerns, Goldman has a basket of stable growth stocks that could provide a measure of safety amid concerns about U.S.
economic deceleration. These names may also be poised to do well as economic policy becomes uncertain. "Investor focus will soon shift to the 2024 US presidential election, which is only three months away," Goldman's chief U.
S. equity strategist David Kostin wrote in a Monday report. "Stable growth stocks have historically outperformed when economic policy uncertainty rises.
" The firm's basket is comprises 50 names in the Russell 1000 with the most stable earnings before interest, taxes, depreciation and amortization growth over the past 10 years. Here are some of the names that made the cut: Of the various sectors on the list, information technology has the most number of names at 14, and only five of them have seen gains this year. Tech giant International Business Machines and cloud security company F5 are two of them, with shares up more than.