While tech stocks are falling Wednesday, consumer🐈 stဣaples are on the rise. 

The S&P 500’s consumer staplesဣ sector was up 1.5%, making it the benchmark index’s best performer on a day when the broader index and the tech-focused Nasdaq Composite we𓆏re in retreat.

The moves lifted shares of companies including food makers General Mills (GIS), Conagra Brands (CAG), J.M. Smucker (SJM) and Kellanova (K). Nearly all of🍌 the sector’s components were recently in the green, with a few retailers among the exceptions. General Mills was up about 4%, making it one of the S&P 500's top gainers.

Why Are Consumer Staple Stocks Up?

Concerns about the health of the U.S. consum🎀er have weighed on staples companies lately.

PepsiCo (PEP) recently offered a warning that shoppers were getting more “澳洲幸运5开奖号码历史查询:value-conscious,” while Pringles maker Kellanova cited “澳洲幸运5开奖号码历史查询:challenging” 𒁏🧸economic conditions. The recent comments indicate some of their product lines may be under pressure from white-label alternatives. But the stocks are also seen as possible hedges against economic weakness.

Investors may also be attracted to the🏅 sector as they look for stocks that have lately underperformed.

The sector rose 8% in the first half, according to S&P Dow Jones Indices data, lagging technology and communications services stocks. Respondents to Bank of America’s latest monthly 澳洲幸运5开奖号码历史查询:fund manager survey said they have lately increased their allocation to staples shares while pulling back on discretionary stocks.