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Investment Research Update

Make informed decisions with comprehensive, data-driven investment research from Fidelity's Quantitative Market Research Team.

Stock returns have tracked fundamentals this quarter.

Third Quarter 2024

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Potential for an earnings recovery and the long-term fundamental picture favored information technology again this quarter. Consumer discretionary showed constructive contrarian indicators. Relative valuations favored financials. Conversely, earnings growth for consumer staplers seemed likely to lag in a broader recovery. Looking ahead, the defensive characteristics of utilities could hinder its performance and problematic fundamental trends could offset the low valuations in health care.