Monday's 777-point collapse left precisely one stock out of the S&P 500 in a better position than it started the day at. Care to take a guess which one?
Apparently, investors are banking on the soup lines growing in the wake of the Wall Street collapse, as Campbell Soup (CPB) was the only stock to emerge up on Monday, finishing at $38.60 after starting the day at $38.29.
In fact, banking on cheap consumer staples is probably a good bet all around. In my own family, we're down to eating pretty much soup and pasta day in and day out as a way to cut costs. Meat is once again a luxury, and we haven't eaten out in months. As much as I know things aren't THAT bad yet, I'm starting to get a feel for why my grandparents always saved EVERYTHING, grew a garden every year, and canned what they didn't eat, even if they never actually ate what they canned either.
I just hope this passes before my daughter is old enough to realize the state we're in.