Recession-proof stocks are leading the market’s latest leg higher

Stocks have rebounded from a rough April, led by two sectors that typically outperform when the economy is in a downturn.

Since April 16, around when the S&P 500 (^GSPC) hit its recent bottom, Utilities (XLU) have led the charge, rising nearly 12%, accounting for all of the sector’s gains year-to-date. Consumer Staples (XLP) stocks have risen almost 5% in that same period, while the S&P 500 is up about 2.7%.

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