Investors looking to diversify beyond the struggling artificial intelligence trade should consider consumer staples stocks, CNBC's Jim Cramer said Friday.
The Nasdaq-100 , which tracks the biggest tech stocks, ended October down almost 7%. Investors rotated into other more defensive areas of the market. The S&P 500 Equal Weight gained roughly 5% for the month. (The equal weight index treats all the S&P 500 stocks the same, rather than weighting them by market cap.) The consumer staples index surged 11.4%, making it the second-best performing sector behind energy.
"You've got to take what the market is giving you, and until we sort out some of the issues for the tech sector, some other groups might be better bets for the time being," the " Mad Money " host said. "I like the idea of camping out in the staples for a bit."
Cramer highlighted four companies he finds particularly attractive in consumer staples — a group that features companies with household brand names that people tend to buy regardless of market conditions or economic environment.
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