Stocks could be in for more inflation pain. This global portfolio strategy can help you minimize any damage.

By Barbara Kollmeyer

AppLovin /zigman2/quotes/226004863/composite APP -2.74% is rallying after the app-monetization group’s executives said their software business is revving up , and they could put the app unit up for sale.

EV maker Rivian Automotive /zigman2/quotes/230726939/composite RIVN +2.55% is up after sticking to its 2022 production outlook . And Lordstown Motors /zigman2/quotes/211334938/composite RIDE -0.36% surged more than 30% after saying deal to sell its factory to Foxconn went through .

Beyond Meat’s /zigman2/quotes/211617595/composite BYND +0.36% stock is headed below its IPO price for the first time after disappointing results. Grocery-delivery group Instacart has filed for a long-awaited IPO .

WeWork /zigman2/quotes/222085303/composite WE +5.30% and Squarespace /zigman2/quotes/226569419/composite SQSP +0.68% are both up on well-received results, while US Foods /zigman2/quotes/202988961/composite USFD +0.67% is tumbling on earnings disappointment.

April producer prices rose 0.5%, which met some economists forecasts, with annual inflation easing jut a bit. Weekly jobless claims crept up by 1,000 to 203,000.

The crypto bloodbath continues. Following the collapse of algorithmic stablecoin TerraUSD, mega stablecoin, Tether /zigman2/quotes/226258617/realtime USDTUSD +0.0100% , announced a $1 billion swap as it hit a low of 95 cents. Bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.09% is down about 5%.

President Joe Biden urged Americans not to “grow numb to such sorrow” as he announced 1 million COVID deaths in the country.

Finnish leaders are backing NATO membership in response to Russia’s war in Ukraine, and Moscow has threatened retailiation. Former Russian president Dmitry Medvedev warned that the West’s steady weapons supply and support for Ukraine risks “full-fledged nuclear war.”

The markets

Stocks /zigman2/quotes/210598065/realtime DJIA +0.71% /zigman2/quotes/210599714/realtime SPX +0.19% /zigman2/quotes/210598365/realtime COMP -0.19% are under pressure, along with Treasury yields /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.20% /zigman2/quotes/211347045/realtime BX:TMUBMUSD02Y +0.52% , as the dollar climbs /zigman2/quotes/210598269/delayed DXY -0.02% . Commodities are also sliding, with oil /zigman2/quotes/209723049/delayed CL00 +0.35% down over 2% and gold /zigman2/quotes/210034565/delayed GC00 -0.01% down nearly 0.5%.

The chart

Here’s a look at how Apple’s market cap eventually ceded to Saudi Aramco’s.

The tickers

These were the top-searched tickers on MarketWatch as of 6 a.m. Eastern Time:

Random reads

This tough root crop could break the world’s dependence on wheat .

Spain expected to be the first country in the world to offer “menstrual leave.”

Passenger with no training lands a small plane in Florida .

Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

Want more for the day ahead? Sign up for The Barron’s Daily, a morning briefing for investors, including exclusive commentary from Barron’s and MarketWatch writers.

/zigman2/quotes/226004863/composite

Add to watchlist APP

Applovin Corp. Cl A

US : U.S.: Nasdaq

$ 32.63

-0.92 -2.74%

Volume: 4.88M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$12.68 billion

Rev. per Employee

$1.83M

/zigman2/quotes/230726939/composite

Add to watchlist RIVN

Rivian Automotive Inc. Cl A

US : U.S.: Nasdaq

$ 38.23

+0.95 +2.55%

Volume: 17.30M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$33.58 billion

Rev. per Employee

$49,319

/zigman2/quotes/211334938/composite

Add to watchlist RIDE

Lordstown Motors Corp.

US : U.S.: Nasdaq

$ 2.75

-0.01 -0.36%

Volume: 4.97M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$568.21 million

Rev. per Employee

N/A

/zigman2/quotes/211617595/composite

Add to watchlist BYND

Beyond Meat Inc.

US : U.S.: Nasdaq

$ 35.83

+0.13 +0.36%

Volume: 3.83M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$2.27 billion

Rev. per Employee

$326,712

/zigman2/quotes/222085303/composite

Add to watchlist WE

WeWork Inc.

US : U.S.: NYSE

$ 5.76

+0.29 +5.30%

Volume: 6.70M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$3.99 billion

Rev. per Employee

$522,219

/zigman2/quotes/226569419/composite

Add to watchlist SQSP

Squarespace Inc.

US : U.S.: NYSE

$ 22.36

+0.15 +0.68%

Volume: 383,415

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$3.09 billion

Rev. per Employee

$518,029

/zigman2/quotes/202988961/composite

Add to watchlist USFD

US Foods Holding Corp.

US : U.S.: NYSE

$ 33.28

+0.22 +0.67%

Volume: 1.33M

Aug. 16, 2022 4:00p

P/E Ratio

47.27

Dividend Yield

N/A

Market Cap

$7.40 billion

Rev. per Employee

$1.15M

/zigman2/quotes/226258617/realtime

Add to watchlist USDTUSD

Tether USD

US : Kraken

1.00

+0.0001 +0.0100%

Volume: 91.74M

Aug. 16, 2022 8:32p

/zigman2/quotes/31322028/realtime

Add to watchlist BTCUSD

Bitcoin USD

US : CoinDesk

23,950.67

-21.90 -0.09%

Volume: 0.00

Aug. 16, 2022 8:33p

/zigman2/quotes/210598065/realtime

Add to watchlist DJIA

Dow Jones Industrial Average

US : Dow Jones Global

34,152.01

+239.57 +0.71%

Volume: 320.97M

Aug. 16, 2022 5:48p

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

4,305.20

+8.06 +0.19%

Volume: 2.22B

Aug. 16, 2022 5:48p

/zigman2/quotes/210598365/realtime

Add to watchlist COMP

NASDAQ Composite Index

US : Nasdaq

13,102.55

-25.50 -0.19%

Volume: 5.04B

Aug. 16, 2022 5:16p

/zigman2/quotes/211347051/realtime

Add to watchlist BX:TMUBMUSD10Y

U.S. 10 Year Treasury Note

BX : Tullett Prebon

2.82

+0.0055 +0.20%

Volume: 0.00

Aug. 16, 2022 8:31p

/zigman2/quotes/211347045/realtime

Add to watchlist BX:TMUBMUSD02Y

U.S. 2 Year Treasury Note

BX : Tullett Prebon

3.26

+0.02 +0.52%

Volume: 0.00

Aug. 16, 2022 8:25p

/zigman2/quotes/210598269/delayed

Add to watchlist DXY

U.S. Dollar Index (DXY)

US : U.S.: ICE Futures U.S.

106.48

-0.02 -0.02%

Volume: 0.00

Aug. 16, 2022 8:24p

/zigman2/quotes/209723049/delayed

Add to watchlist CL00

Crude Oil Continuous Contract

US : U.S.: Nymex

$ 86.83

+0.30 +0.35%

Volume: 2,939

Aug. 16, 2022 8:24p

/zigman2/quotes/210034565/delayed

Add to watchlist GC00

Gold Continuous Contract

US : U.S.: Nymex

$ 1,789.50

-0.20 -0.01%

Volume: 1,859

Aug. 16, 2022 8:24p

/zigman2/quotes/203755179/composite

Add to watchlist GME

GameStop Corp. Cl A

US : U.S.: NYSE

$ 42.19

+2.51 +6.33%

Volume: 23.60M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$12.08 billion

Rev. per Employee

$509,358

/zigman2/quotes/200235402/composite

Add to watchlist AMC

AMC Entertainment Holdings Inc. Cl A

US : U.S.: NYSE

$ 24.81

+0.60 +2.48%

Volume: 72.30M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$12.51 billion

Rev. per Employee

$124,591

/zigman2/quotes/202934861/composite

Add to watchlist AAPL

Apple Inc.

US : U.S.: Nasdaq

$ 173.03

-0.16 -0.09%

Volume: 56.38M

Aug. 16, 2022 4:00p

P/E Ratio

28.59

Dividend Yield

0.53%

Market Cap

$2783.29 billion

Rev. per Employee

$2.52M

/zigman2/quotes/204905836/composite

Add to watchlist NIO

NIO Inc. ADR

US : U.S.: NYSE

$ 20.91

-0.39 -1.83%

Volume: 32.10M

Aug. 16, 2022 4:05p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$3.16 billion

Rev. per Employee

N/A

/zigman2/quotes/210331248/composite

Add to watchlist AMZN

Amazon.com Inc.

US : U.S.: Nasdaq

$ 144.78

+1.60 +1.12%

Volume: 59.10M

Aug. 16, 2022 4:00p

P/E Ratio

129.57

Dividend Yield

N/A

Market Cap

$1458.65 billion

Rev. per Employee

$302,178

/zigman2/quotes/225893452/composite

Add to watchlist COIN

Coinbase Global Inc.

US : U.S.: Nasdaq

$ 90.39

-1.58 -1.72%

Volume: 17.06M

Aug. 16, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$20.42 billion

Rev. per Employee

$1.55M