Concerns about a recession in Europe due to the war, the lockdowns in China over Covid, or foreign exchange headwinds from a strong dollar have nothing to do with this health insurer. In third was Constellation Brands (STZ), which tacked on 1.2% in the quarter. History shows beer sales have been resilient during economic downturns, and Constellation Brands is a market-share gainer in the category through its leading Mexican beer portfolio. The company is profitable, pays a dividend, and repurchases stock. The company bought back $1.3 billion worth of stock through the first four months of its fiscal year through June. Fourth was Johnson & Johnson (JNJ), which squeaked out a gain of 0.2%. The company's pharmaceutical, medical device, and consumer product businesses make this a defensive growth company that investors want to buy (or at least not sell), when they are concerned about rising inflation and the impacts of a Fed-mandated slowdown.