The energy sector is rewriting the record books with a historic 14-week winning streak, even as the broader U.S. stock market struggles through a prolonged downturn.
For the first week since the war in Iran began, a sector other than energy led the market higher. In fact, the State Street Energy Select Sector SPDR ETF (XLE) was the worst-performing sector last week. So, what’s the story here?
Analyst upgrades don’t always move stocks. But when they start hitting in clusters, now we’re talking. This week, only three stocks in our analyst screen picked up multiple upgrades over the past seven days.
Industrials have been one of the best-performing sectors this year. The “old economy” is very much alive and well, and investors are recovering it after years of focusing almost exclusively on tech stocks.