Something unusual has happened in markets over the last week. The highflying tech stocks that investors have sought out for refuge have dropped, but so have the COVID-19 recovery plays in the travel and leisure sector.
Instead, it isn’t just financials that have gained ground as the big banks have reported results, but also energy, industrials and materials sectors — all where the value stocks lie. The S&P 500 value index SP500V, +0.01% has climbed 5% over the last week, outperforming the broader market.
