NEW YORK, Jan 12, 2026, 14:10 EST — Regular session
- Procter & Gamble shares climbed roughly 1% in afternoon trading, beating the broader market’s gains
- Consumer-staples shares gain ground amid renewed volatility sparked by concerns over Fed independence
- Investors are eyeing U.S. inflation figures this week alongside P&G’s earnings report scheduled for Jan. 22 as the next key catalysts
Shares of The Procter & Gamble Company climbed roughly 1% to $143.29 Monday afternoon, outpacing the wider market as investors favored consumer-staples stocks. The Consumer Staples Select Sector SPDR Fund gained around 1.2%, while Colgate-Palmolive, Kimberly-Clark, and Unilever also saw their shares rise. The SPDR S&P 500 ETF edged up about 0.2%.
That outperformance is key since staples are seen as “defensive” — folks still buy soap and diapers even when the outlook gets messy. As earnings season kicks off, traders are reading Monday’s rotation as a sign of what kind of market lies ahead in the coming weeks.
Sentiment turned negative after the New York Times revealed that U.S. federal prosecutors have launched a criminal probe into Federal Reserve Chair Jerome Powell. The inquiry centers on the renovation of the Fed’s Washington headquarters and questions over whether Powell misled Congress. 1
Karl Schamotta, chief market strategist at Corpay, warned the episode “could drive inflation expectations higher” and chip away at the dollar’s safe-haven status. TD Securities strategist Prashant Newnaha described the news as “dollar and rates negative,” while Jack Ablin of Cresset Capital noted gold’s gains and said equities had “wobbled” following the headlines. 2
White House economic adviser Kevin Hassett expressed respect for the independence of both the Fed and the Justice Department. Still, he later supported probing what he described as dramatic cost overruns in the building project. Powell, in a Sunday video statement, slammed the investigation as a “pretext” aimed at wresting greater control over interest rates. 3
P&G isn’t immune to the pressure, but its reliable cash flow and steady dividend attract buyers when markets turn jittery. The company markets everything from Tide detergent to Pampers diapers.
Investors face a quick follow-up on the macro front this week, as U.S. inflation figures and major bank earnings hit the tape. Both could shift bond yield forecasts and shake up market leadership. 4
Defensive stocks aren’t safe either. Should yields climb further, the numbers could quickly sour on dividend plays, unraveling the defensive rally. For P&G, Monday’s gains hinge on shoppers holding steady—any hint of trading down or weak volumes could wipe out those gains fast.
P&G plans to report its fiscal second-quarter results and host an earnings call on Jan. 22 at 8:30 a.m. ET. Investors are focused on updates regarding pricing, volume trends, and demand momentum in the U.S. 5
