1 Overlooked Sector That's Helping Fuel the S&P 500 to Record Highs

The S&P 500 is having a strong year. It recently closed at another all-time high, the 24th time it closed at a record in 2024. The broad market index is up more than 10% on the year and over 25% in the past 12 months.

Several catalysts have helped fuel the S&P 500 Index's record-setting performance this year. One factor that many investors might have overlooked is the effect that energy stocks are having on the index. Energy stocks listed in the S&P 500 have surprisingly outperformed that broader market index this year, as measured by the returns of the Energy Select Sector SPDR ETF.