At the start of the October, Technology was sitting pretty as one of the top performing sectors of the market in 2012. But after declining 6.81% during the month, Technology is now just the 5th best performing sector year to date with a gain of 12.42%. Telecom was also up much more YTD at the start of October, but now it's up just 14.74% after falling 5.21% during the month.
The big declines in Technology and Telecom in October now leave Financials and Consumer Discretionary as the big winners in 2012. Financials actually gained 1.81% in October, and the sector is now up 22.05% YTD. Consumer Discretionary fell 1.63% during the month, but it remains up 18.03% YTD. Health Care is now up the third most in 2012 with a YTD gain of 15.28%. The S&P 500 as a whole declined 1.98% in October, leaving it up 12.29% YTD.
See below for October and YTD returns for the S&P 500 and its ten sectors:
If you are an investor who is looking for new stock ideas? Each week we publish "the Bespoke 50," a list of our favorite growth stocks in the Russell 3,000. To make the list of 50, a stock must have strong earnings growth prospects along with an attractive price chart based on Bespoke's proprietary fundamental and technical analysis.
The "Bespoke 50" is released on a weekly basis, and in it you'll find the 50 stocks that made the cut, price charts for each of them, and an Excel file that you can download as well.