Just a handful of mostly tech-focused companies have contributed the bulk of the S&P 500's year-to-date (YTD) gains. But that doesn't mean tech is the only sector winning in 2024.

In fact, the energy, materials, industrials, utilities, and financial sectors are all beating the S&P 500 over the last month. Meanwhile, communications, financials, energy, and industrials are the only sectors beating the S&P 500 YTD.

In a market where artificial intelligence (AI) drives so many narratives, it can be refreshing to see legacy companies outperform the benchmark. Let's look at what is fueling the industrial-sector rally and how to approach the sector.

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Source Fool.com