Defensive Stocks Rally Led by McKesson and Waste Management Amid Market Dip

Key Facts

1WM stock rose 4.06% to $242.25, outperforming the S&P 500 which fell 0.51%.

2MCK shares gained 5.65% to $841.31, snapping a two-day losing streak.

3ORLY and HBAN stocks rose 4.25% and 2.43% respectively despite a 0.20% drop in the Dow Jones.

Amid rising market volatility and pressure on major indices, defensive stocks demonstrated significant resilience as investors rotated into healthcare and waste management sectors. Waste Management (WM) shares rose 4.06% to $242.25, sharply outperforming the S&P 500 which declined by 0.51%. Similarly, McKesson Corp (MCK) surged 5.65% to $841.31, successfully snapping a two-day losing streak.

This outperformance occurred as the Dow Jones Industrial Average faced a 0.20% drop, prompting gains in O'Reilly Automotive (ORLY) and Huntington Bancshares (HBAN) of 4.25% and 2.43% respectively. Compared to healthcare peers, MCK is trading at elevated levels relative to its July 15, 2026 close of $796.35 per market data, reflecting increased investor confidence in companies with stable cash flows during periods of economic uncertainty.

Regarding current price levels, WM stood at $232.80 and HBAN at $18.12 (at close July 15, 2026). Traders are closely monitoring upcoming central bank communications, with Fed officials Bowman and Waller scheduled to speak on July 13, which may provide further clarity on monetary policy and its impact on both defensive and growth sectors.