Defensive, dividend-rich companies are playing an unusual leadership role in this rally. But the swift ascent has some observers convinced that their valuations are stretched. Which raises the question: Are there any bargains left in these sectors? Health care, consumer staples and utilities — sectors known for providing steady but slower growth — have led the U.S. market to record highs. As of April 25, the Standard & Poor’s 500 Healthcare Index was up 19% so far this year, while the S&P Consumer Staples Index and Utilities Index had each gained around 17%.
These steady-Eddie sectors typically don’t drive market rallies like technology, financial or materials do. But the technology stocks in the S&P 500 SPX -0.18% , for example, are up only about 2% this year as a group; the materials sector has gained around 3%.
AT&T (T), Avista (AVA), Baxter International (BAX), Cardinal Health (CAH), ConAgra Foods (CAG), Consolidated Edison (ED), Johnson & Johnson (JNJ), Laclede Group (LG), SCANA (SCG), Universal (UVV), Westar Energy (WR) and Xcel Energy (XEL).
Source: MarketWatch
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