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Amid the recent rotation into value stocks, one sector stands out: energy.
According to data from Ned Davis Research, the sector just posted its best 21-day relative return since at least 1972, up more than 30% versus the S&P 500.
And with Thursday's move higher, the sector is up about 13% so far this month alone, making it far and away the best performing S&P group. By comparison, financials is the second-best performer, up just 3%.
Notably for the stocks on Thursday, oil prices reached their highest levels since March with Brent crude oil even breaking above $50 a barrel.