What happened

Shares of Colgate-Palmolive (NYSE:CL), a global consumer goods company selling products in over 200 countries, jumped more than 7% Monday as the markets attempted to stabilize after last week's sell-off.

So what

^DJI Chart

^DJI data by YCharts.

While sometimes stocks go up, and sometimes stocks go down, there's a little more to Colgate-Palmolive's pop today than a rising tide lifting all boats, with the broader markets surging following last week's sell-off. The Dow 30 and S&P 500 popped 5.1% and 4.6%, respectively, as some investors were likely able to brush off the uncertainty of COVID-19 impacts and buy stocks on their watch lists at a bit of a discount.

It's also fair to say that some investors probably scooped up defensive stocks such as Colgate-Palmolive, which owns a long list of brands that are entrenched in consumers' daily routines, since these stocks are more resilient to economic uncertainty or downturns. Another plus for investors looking for some semblance of safety is that Colgate-Palmolive offers a 2.55% dividend yield and has paid uninterrupted dividends since 1895. 

retail shelf aisle with consumer goods products

Image source: Getty Images.

Now what

There's little question global companies will feel some negative impact from COVID-19, it's just unclear how drastic the impact will be. If investors can keep a long-term view, Colgate-Palmolive remains an attractive stock due to its defensive nature, compelling brands, massive scale, and competitive advantages.

Furthermore, its recent fourth quarter showed a 5% increase in organic sales, pretty impressive for such a massive company. Investors would be wise to take stock market volatility with a grain of salt as the world waits to gauge the impacts from COVID-19 and other global economic developments.