This Unlikely Sector Is Leading the Market Higher Friday
Markets started out Friday morning with some volatility, as investors tried to parse through the latest employment report from the U.S. Bureau of Labor Statistics to figure out the implications for the economy and monetary policy going forward. In particular, many market participants have appeared to be spooked by concerns that the Federal Reserve could boost interest rates higher and keep them at elevated levels longer than previously thought. Yet by early afternoon, major indexes were all higher on the day.
Given the market's performance, it would be natural to assume that red-hot technology stocks were helping to lead the charge higher. However, on Friday, it was the beaten-down energy sector that posted the strongest gains. Below, you'll learn more about what's happening in energy and whether now's the time to take a closer look at the sector.
There was a lot of interest in energy stocks across the market on Friday. The relatively broad-based Energy Select Sector SPDR (NYSEMKT: XLE) led its sector-focused counterparts with gains of nearly 3% early Friday afternoon.
Source Fool.com
