Value stocks are clearly outperforming growth stocks in July. The Nasdaq Composite has fallen more than 6% this month, nearing a correction, while the iShares Semiconductor ETF has plunged more than 26%. In contrast, the iShares Russell 1000 Value ETF has gained more than 3.5% this month and more than 19% year to date. Investors are rotating into consumer staples like Kraft Heinz, which is up more than 14% this year, double the S&P 500’s gain. Ed Yardeni, president of Yardeni Research, points to « AI fatigue » driving the market back to sectors everyone understands: energy, healthcare, financials and industrials.
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