These stocks could survive Wall Street's summer lull and thrive, CFRA’s Sam Stovall says

Investors who want to see gains even during a potential "summertime snooze" should hide out in some typical defensive areas of the market, according to

chief investment strategist Sam Stovall. The S & P 500 has gained an average of only 1.6% between the Memorial Day and Labor Day holidays since 1945, despite rising in price in two out of every three years, Stovall wrote in a recent note to clients. June's historical average return comes out at just 0.1% while July typically sees a 1.2% gain, according to Stovall.

picks Eli Lilly and Walmart . Here are Stovall's favored names: According to Stovall, companies such as Lockheed Martin and General Dynamics "should end up doing fairly well." He expects both Democrats and Republicans to promote the need for increased defense spending during the election. 's proprietary indicators are positive for both companies, and the aerospace defense industry in general, he said. Shares of Lockheed Martin are up 1.4% this year, significantly underperforming the broader market, while General Dynamics has advanced 13.4%. Better defense sentiment Sentiment has improved in recent months, Morgan Stanley wrote in a recent note, saying in late April that the U.S.

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