"The Untold Reason Behind the Enduring Tech Stock Rally"

Fidelity strategist Denise Chisholm suggests three surprising investing ideas. First, she believes the tech stock rally may have room to run, as historical data shows that when tech stocks outperform despite declining profits, the sector's earnings tend to more than double over the next 12 months. Second, Chisholm is bullish on consumer discretionary stocks due to their cheap valuations, falling inflation, and historically positive performance during periods of low bank lending. Lastly, she sees potential in industrials, as the sector's relative valuations are at their lowest and a drop in the Institute for Supply Management manufacturing new orders index historically leads to outperformance. Chisholm's research suggests reasons to remain positive on the stock market, particularly in the technology, consumer discretionary, and industrials sectors.