Top performing U.S. S&P 500 sectors as reported by Koyfin for the Fourth Quarter of 2023 include Real Estate (18.8%), Technology (17.7%) and Financials (13.9%). Laggards for the Fourth Quarter include Energy (-6.4%), Consumer Staples (5.5%) and Health Care (6.4%).
Top performing U.S. S&P 500 sectors as reported by Koyfin for the full year 2023 include Technology (56.0%), Communications (52.8%) and Consumer Discretionary (39.6%). Laggards for 2023 include Utilites (-7.2%), Consumer Staples (-0.8%) and Energy (-0.6%).
Growth oriented sectors took center stage for the full year 2023. Growth stocks showed the ability to continue growing earnings despite rising interest rates. Strong cash positions helped technology stocks who not only continued to grow, but also benefit from rising interest rates. Higher interest rates provide greater return on cash.