Stocks Trade Mixed Amid Credit Suisse Turmoil

The stock market closed mixed on Wednesday, as turmoil at Credit Suisse fueled more concerns over the banking sector.

The European bank’s stock fell significantly plunging to a record low, as the bank disclosed that it could not provide any more funding. However, investors were reassured in the afternoon trading after the Swiss National Bank announced that it would give Credit Suisse liquidity.

Overall, S&P 500 fell 0.7% to 3,892, while NASDAQ increased 0.1% to 11,434.

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Here is the ten-year chart of Pepsico (PEP) as of March 1, 2023, when the stock was at $171.

Pepsico is one of the world’s largest food and beverage companies with more than $70 billion in annual sales. Pepsico’s great worldwide brands include Pepsi, Frito-Lay, Tropicana, Quaker, and Gatorade, with each generating more than $1 billion in annual sales.

The company continues to thrive as profits increased a solid 9% last qtr while revenue grew 11%. Most of the growth came from price increases, as volume was -2% with convenient foods (snacks) and flat with beverages. Looking ahead, management sees inflation coming down.

PepsiCo’s one of the safest stocks in the world, with Standard & Poor’s credit rating of A+. PEP is a core holding in the Conservative Growth Portfolio.

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