3 Safe Harbor Stocks to Buy Amid the August Volatility

Economic Outlook - JPMorgan Chase estimates a 35% chance of an economic recession, up from 25% earlier this year, with concerns over a slowing labor market and reduced consumer spending [1] - The stock market is expected to experience continued volatility amid economic uncertainty, particularly in the near term [1] Walmart (WMT) - Walmart is positioned as a safe harbor stock, benefiting from its status as the largest grocery store chain in the U.S., which attracts consumers during economic downturns [2] - Walmart's stock has gained nearly 30% this year, with a strong financial performance highlighted by an EPS of 60 cents, exceeding estimates of 52 cents, and quarterly sales of $161.51 billion, surpassing the expected $159.50 billion [3] General Mills (GIS) - General Mills is another safe harbor stock, selling essential items that consumers purchase regardless of economic conditions, providing a degree of stability [3] - The company's stock has increased by 4% this year, trading at a valuation of 16 times future earnings estimates [3] - General Mills reported an EPS of $1.01, beating forecasts of 99 cents, but revenue of $4.71 billion fell short of the $4.85 billion consensus, attributed to financially stressed consumers [5] Costco Wholesale (COST) - Costco is recognized as a strong investment, with its stock rising 31% this year and 52% over the last 12 months, reflecting its consistent growth [6] - The company reported a 20% increase in e-commerce sales for July, with total revenue of $19.30 billion, up 7.1% year-over-year [6][7] - Costco's same-store sales rose 7.2%, surpassing the previous month's increase of 6.9%, indicating robust performance despite economic challenges [7]