Coca-Cola ($KO) shares rise as investors eye defensive stocks ahead of the July 28 earnings report. Get the technical outlook.
Coca-Cola Co.
(NYSE:KO) stock rose about 1% in Friday's premarket session as investors rotated into defensive stocks while broader market sentiment weakened.
Nasdaq futures were down 1.68%, while S&P 500 futures slipped 0.88%.
The gain appeared driven by investors seeking stable, defensive names as growth stocks came under pressure.
Coca-Cola continues to trade near its 52-week high.
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Coca-Cola stock has risen 19% this year, outstripping the gains of the S&P 500.
