Aftermath of the Stock Market Correction: Retailing, Defense and Banking Sectors are the New Leaders; Communications Equipment Fund is the First Sector Fund to Break Out to a New High

After the unexpected correction last week, the U.S. equity market rallied back in the last three days, in spite of fears of rising interest rates and inflation:

 

Based on the three-month total return, which is a measure of price momentum, the consumer cyclicals (such as retail), industrials (such as defense) and the financials (such as banking) sectors led the market higher:

We continue to like the technology sector, as well. In fact, the only sector fund that made a new all-time high today is the Fidelity Select Communications Equipment Fund (FSDCX), which represents a sub-sector of the broader technology sector:

 

View fund rankings at FidelitySectorReport.com for more information.

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