"The reasons for yesterdays sock market rebound include positioning, the news being already priced in, the policy turnaround in the U.K., peak European Central Bank hawkishness, and better than expected earnings. Keys to a stock market bottom are peak inflation and peak hawkishness, China ending their lockdown and opening up, and a meaningful reduction in geopolitical tensions," says David Darst. Darst then provides his stock picks in an economic slowdown: Costco (COST), Chevron (CVX), and Merck (MRK).