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Today's Featured Content 3 Smart Defensive Stocks for an Uneasy MarketWritten by Chris Markoch. Published 11/18/2025. 
Key Points - Despite new market highs, recession risks remain elevated due to weakening consumer credit and signs of job market stress.
- Procter & Gamble and Johnson & Johnson offer stable dividends, strong balance sheets, and catalysts that could provide upside in a downturn.
- A rotation away from AI and into Dow components could make the DIA ETF a compelling defensive play for 2025.
At one point in early November, the Dow Jones Industrial Average (DJIA) briefly topped 48,000 for the first time ever. At different times in 2025, the NASDAQ and S&P 500 have made new all-time highs (ATHs). Despite sharp price swings, it's been a solid year to own stocks. Yet many economists, analysts, and investors remain uneasy. The market appears priced for perfection—but recession risks are not priced in. Make sure you watch this critical video message …
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For only $19. That's a savings of 85%! Click here now before it's too late. Even with broad gains, some skepticism persists. The Magnificent 7 trade may have cooled off, but the market is clearly being lifted by a narrow group of names, mostly tied to the AI boom. The K-Shaped Economy Concern Current economic commentary focuses on a K-shaped recovery. Higher-income consumers are navigating inflation of around 3%—still above the Federal Reserve's informal 2% target but manageable for affluent households. Lower-income consumers, however, have been under pressure for several years. There's increasing evidence: rising credit defaults, delinquent auto loans and, more recently, an uptick in foreclosures—all of which suggest this problem is worsening. The labor market has been the economy's strongest pillar, but even that is beginning to show signs of strain. JPMorgan Chase & Co. (NYSE: JPM) recently lowered its estimation of the probability of a recession from 60% to 40%, citing an easing of trade tensions. But that still represents a meaningful risk. Market Breadth Remains Narrow as Investors Chase Mega-Caps Recent data from Charles Schwab shows the percentage of S&P 500, NASDAQ, and Russell 2000 stocks trading above their 200-day moving average was slightly above 50%. That's historically low market breadth, which is adding to investors' concerns. This isn't a redux of 2021, when investors piled into unprofitable SPACs in hopes of becoming a millionaire. In many cases, the current froth comes from mega-cap stocks that have plenty of cash on the balance sheet. Still, investors sense that many of these names are overvalued. So what's an investor to do? Here are three stocks that provide the opportunity for an asymmetric return in the current uneasy market. Procter & Gamble Has More Than a Dividend to Like Procter & Gamble Co. (NYSE: PG) is part of the exclusive Dividend Kings club, meaning the company has increased its dividend for at least 50 consecutive years—70 years in PG's case, which is why it's a staple for many income-oriented investors. The 2.8% dividend yield may look even more attractive if rates fall. Plus, 2025 brings potential growth—the $171.53 price target implies about 17% upside. It's unclear how P&G's proposed acquisition of Kenvue (NYSE: KVUE) would affect near-term earnings. If the deal goes through and the Tylenol controversy subsides, the most likely outcome is a modest earnings-per-share (EPS) dilution in the first year. Beyond that, the dilution would likely reverse into EPS accretion as cost synergies with Kenvue are realized. Johnson & Johnson Doubles Down on Medtech and Oncology Growth The next company on this list is Johnson & Johnson (NYSE: JNJ), which spun off Kenvue in 2023 to focus more squarely on its medtech and pharmaceutical businesses. Its recent $3.5 billion acquisition of Halda Therapeutics is one example of that strategy. The all-cash deal gives JNJ access to the clinical-stage company's HLD-0915 drug candidate, a once-daily oral prostate cancer medication that received fast-track designation from the U.S. Food & Drug Administration (FDA). This will be a material addition to the company's oncology pipeline and should make JNJ more appealing to growth-oriented investors. The DIA ETF Could Benefit From a Flight to Safety Over the past five years, many investors embraced a passive "SPY and chill" strategy—simply buying the SPDR S&P 500 ETF Trust (NYSEARCA: SPY). SPY may still be a sensible holding, but with potential AI overexuberance, it may be worth considering the SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA: DIA). If concerns about an AI bubble intensify, a rotation into the Dow 30 constituents is likely. That would make DIA a sensible asymmetric play to capture that shift. As of this writing, DIA has only about 37% institutional ownership. However, it's seen more buying than selling in seven of the last eight quarters, suggesting institutions may be building a hedge against a potential slowdown in the tech trade.
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