The stock market is starting to show signs of a "leadership rotation," meaning that some previously overlooked sectors hold promising investment opportunities, including some notably "old economy" stocks, according to one market strategist.
Construction equipment manufacturer Caterpilla r is another strong industrial name, according to Tentarelli. The stock is also already outperforming the S & P 500 this year, up nearly 29% year to date. As a group, industrials have gained 10.3% this year, or a little less than 1% above the S & P 500. After a rocky 2023, energy has established itself as one of the S & P 500's top outperformers in 2024. The sector has gained 17.