Halfway through 2021, the hot stocks are old-fashioned

Marathon Oil was the biggest gainer in the S&P 500 in the first half of 2021 as oil prices rebounded. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

NEW YORK (NYTIMES) - Zoom and Peloton are out. Oil drillers and metal miners are in. Tech companies that made remote living possible - or even bearable - were the centre of the action last year as investors sought companies that were either immune to the economic chaos of the coronavirus pandemic or potential winners from the disruption caused by lockdowns.

But now, money is flowing into old-fashioned sectors where profits are soaring because of the rebounding economy, which is growing at the fastest rate since the early 1980s.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.