As second-quarter earnings approach, investors are looking at beaten-down sectors which might gain ground regardless of whether the U.S. economy falls into recession this year.
has gained nearly 15% year-to-date driven by a handful of megacap growth and technology names, some sectors have lagged, including the S&P 500 healthcare, which is down 4.7%. The financials sector is down 2%, while energy is nearly 9% lower.
Large asset managers such as BlackRock and Wells Fargo highlighted healthcare as a favored sector in their recent outlooks for the rest of the year. "But until we hear from companies that they are cutting their labor force, then we think that we will not have a dire earnings season and some of these lagging sectors will become more favorable," she said.
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