2024 Equity Sector Performance Outlook

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As part of Fidelity's market outlook for financial advisors, find out where our sector managers have found the most compelling potential opportunities for 2024 and beyond.

The biggest story for the financial markets in 2023 was the resurgence of U.S. equity leadership, especially U.S. large cap stocks. A slowing in the pace of inflation, easing monetary policy from the U.S. Federal Reserve, and a resilient U.S. economy provided a favorable backdrop for equities for much of 2023. From a sector performance perspective, information technology and communication services led the way with a huge reversal from the year before as investors and advisors became more comfortable investing in growth-oriented stocks.

Looking ahead to 2024, Fidelity's sector portfolio managers have strong conviction in several investment themes and trends they believe are likely to transcend any short-term macroeconomic dynamics influencing the broader market. These include possible beneficiaries of artificial intelligence (AI) adoption in the information technology and communication services sectors, makers of novel weight-loss drugs in health care, and potential plays on the U.S. and global shift toward decarbonization in the utilities sector.

Read on to learn more about Fidelity sector managers' highest-conviction ideas across the 11 equity sectors as part of Fidelity's market outlook for advisors in 2024 and beyond.

Explore the 11 Equity Sector Outlooks

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Advisors may also explore our quarterly investment research update that includes data-driven views of the markets, equity sectors, and other investment building blocks.


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