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Let’s break down the sectors behind the performance.
Today’s Top-Performing Sector
Consumer staples was the top-performing sector on Friday amid expectations for higher rates. Consumer staples stocks are less impacted by higher rates because their sales rely less on long-term growth expectations. In addition, the sector tends to hold up well during periods of market volatility due to steady demand for essential goods.
Several consumer staples stocks led the sector’s gains, including:
