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Sam Ro highlights that the sector of the economy least affected by rate hikes is information processing equipment, which he identifies as the most important driver of gains in the U.S. equity market.
He underscores the influence of this sector on overall market performance, referencing commentary from RenMacLLC.
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Sam Ro has previously covered S&P 500 index changes, reporting additions including Bloom Energy, Illumina, and Everpure while Molson Coors, Trade Desk, and Builders FirstSource were removed (link). He also noted a recent surge in S&P 500 stocks with negative beta, indicating an unusual risk profile in the U.S. equity market (link). These developments provide further context to shifts affecting major equity benchmarks.