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Investors Are Bidding Up Stocks in a Recession-Resilient Sector

  • AutoZone, O’Reilly, Advance Auto are rare gainers in S&P 500
  • Market is betting consumers will hang onto their cars longer
Automotive products for sale at an Auto Zone store.
Automotive products for sale at an Auto Zone store.Photographer: Andrea Morales/Bloomberg
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If a coronavirus-driven recession scares consumers away from car dealerships, they’ll have to turn to the likes of AutoZone Inc., O’Reilly Automotive Inc. and Advance Auto Parts Inc. to keep their old beaters running.

At least that’s the bet investors are making Monday. The retailers of replacement parts were three of only nine stocks in the S&P 500 trading higher as of 2:30 p.m. New York time.