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The stock market is scared, but there are pockets of strength if you know where to look

So now is the time for investors to find companies that can still thrive in tougher economic conditions, because profits still matter, even in a correction or bear market. Heck, some would say the fundamentals are more important now. When the market was in bullish mode, the proverbial rising tide lifted all boats.

Let’s take the example of Friday to find diamonds in a rough market. The broader market collapsed, with the Dow falling more than 250 points in midday trade to extend its 1,063 point plunge on Thursday. Yet there were still winners. Reserve credits (BKNG) and Kellogg (K) gained on Thursday after posting strong quarterly results. People still travel and eat grain. Kellogg rebounded again on Friday, gaining another 4%.
Health insurance giant Cigna (THIS) was another winner on Friday, gaining 5% after reporting revenue and profit that beat estimates and an optimistic outlook for the rest of the year.
Manufacturer of collectible figurines Funko (FNKO) jumped nearly 20% on Friday after posting better-than-expected earnings and sales. The company also announced a series of new investments from a company led by former News Corp. (NWSA) and Fox (FOXA) executive Peter Chernin. eBay (EBAY) and old disney (SAY) CEO Bob Iger has also invested in Funko.
chip maker AMD (AMD) also bucked the downtrend on Friday, rising 2% – although it fell on Thursday along with the broader market. Shares of the company jumped more than 12% this week after the company reported strong sales and earnings as it continues to take market share from companies like Intel (INTC) and Nvidia (NVDA).

Energy stocks also continue to hold up well in this difficult market, thanks to soaring crude prices. Many oil and utility stocks also pay large dividends, providing stability and comfort to investors in these volatile times.

Utility NRG (NRG) climbed 8% on Friday, making it the top earner in the S&P 500. Oil and gas exploration company Pioneer of natural resources (PXD) rose 4% on Friday after posting strong results earlier in the week, and the stock is now trading at an all-time high.

This shows that even in the scariest times for the markets, investors still have the opportunity to find stocks that are still worth buying.