MarketWatch: "This one factor has determined which stocks rise or fall on trade-war fears"

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MarketWatch: "This one factor has determined which stocks rise or fall on trade-war fears"

DataTrek co-founder Nick Colas’ latest quote in MarketWatch:

…..”Within the Dow, the average’s global-focused stocks have lead recent declines. According to DataTrek Research, “international exposure is the common link between most of the big losers: 3M, Caterpillar, Procter & Gamble and Johnson & Johnson.”

Shares of 3M Co. MMM, -1.13%  are down 16.6% thus far this year, accounting for nearly a third of the Dow’s underperformance relative to the S&P 500SPX, -0.55%  .

“Worth noting: 3M is one of the most international companies in the Dow, with just 39% of revenues coming from domestic sources,” wrote Nicholas Colas, DataTrek’s co-founder. Caterpillar derives 54% of its revenue from outside the U.S., while 55% of P&G’s sales originate outside the U.S. For Johnson & Johnson, 48% of revenue is generated from outside the U.S.

“As for Walmart, although its revenues are still 73% U.S.-based, much of what it sells is obviously made elsewhere,” Colas wrote”…..

Read the full article here on MarketWatch!