Explain briefly in which phase of the business cycle you would expect the stock of each of the following companies to perform well relative to the overall stock market, and relate your discussion of each company to its industry:

Clear Water Supplier of drinking water and provider of drainage and sewerage.

Smith Bakery Producer of bread

Need for Speed Designer and distributor of luxury sports cars

Heavy Metal Mining company extracting, producing and selling iron ore

Williams REIT Company owning and renting commercial real estate for income