New year, new me – as the saying goes. But this is not the case for markets.
It seems the same narratives of inflation and the Fed’s relentlessness to raise rates are carrying over to the new year.
It seems like nothing has worked over the last year and everything is in a free fall.
The S&P 500 has fallen over 16% over the last year, but there are some areas of the market that have been a bright spot.
The XLE, which is an ETF that tracks energy companies, has rise more than 44% over the last year. The XLP, which is an ETF that tracks Consumer Staple companies, has remained steady and eked out a small gain of 0.22%.
Don’t be surprised if the same assets that have outperformed or remained steady over the last year do the same thing this year.
Money Fad 