SERIES

Quarterly Sector and Investment Research Update

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

Technology, industrials led in Q2

Third Quarter 2026

Your browser doesn’t support video.


The outlook for U.S. equities remains constructive as rising manufacturers' new orders and corporate capital spending point to resilient economic growth and earnings strength. Small Federal Reserve rate hikes have often coincided with economic expansion, creating a favorable backdrop for stocks. Meanwhile, technology, financials, and consumer discretionary appear attractive based on improving fundamentals and compelling valuations, while energy looks less appealing given elevated valuations relative to the broader market.