Investors have flocked to consumer staples stocks in search of safety as volatility shakes the market, but Bank of America said there are other defensive sectors worth consideration. President Donald Trump’s raft of “reciprocal” tariffs announced on April 2 have weighed on stocks, with the S & P 500 down about 7% since then. The shake-up of U.S. trade policy has also fueled concern over a looming recession . Investors have fled to consumer staples stocks in search of stability, a typical move during periods of macroeconomic uncertainty. Consider that Coca-Cola and Costco have advanced 15% and 5.6% in 2025, respectively, while the S & P 500 is off 10%. But there are other corners of the market that could offer some measure of safety. “There are defensives outside of consumer staples,” a team of Bank of America analysts and strategists noted in a Wednesday report. They include natural gas plays, streaming names, select asset managers and managed care. Check out some of the names below. Spotify and Netflix made the list of the firm’s defensive trades, with shares up nearly 26% and 8%, respectively, in 2025. The two streaming services are best positioned in the media sector to ride out the uncertainty ahead, according to analyst Jessica Reif Ehrlich. They are “most resilient as their subscription models offer critical entertainment,” Bank of America said. “Both have nascent ad businesses which can grow even in a slower macro.” SPOT YTD mountain Spotify stock in 2025. The firm’s $700 per share price target on Spotify implies about 24% upside from Wednesday’s close, while its $1,175 price target on Netflix suggests shares could jump 22%. Elsewhere, Bank of America has a $250 per share price target on Cheniere Energy , a liquid natural gas play that the firm flagged as a defensive trade. This suggests about 10% upside. Shares are up about 6% in 2025. LNG YTD mountain Cheniere Energy in 2025. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
