Out of the four major U.S. indexes, the small-cap Russell 2000 is the first one to surpass the January high and reach an all-time record level:
We view the relative outperformance of small-cap companies a positive development for the overall market. Small companies are responsible for most of the job creation in America and their strength signals a vibrant and growing economy.
Several large-cap sectors that are not impacted by the stronger dollar and by the rising interest rates are also performing well. Click here for a list of the top-rated industry groups.
Based on our technical screen, we like the Fidelity Small Cap Growth Fund (FCPGX) the most in the current market environment:
One of our long-time favorites, the Fidelity Low Priced Stock Fund (FLPSX) is also performing well: