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Summer stock rally relieved this year’s most painful trades

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Yahoo Finance's Alexandra Semenova discusses the sectors seeing the biggest upside from this summer's market rally.

Video Transcript

[MUSIC PLAYING]

AKIKO FUJITA: Welcome back to Yahoo Finance Live. We are seeing a down day in the markets today, but the recent rally has granted a much needed reprieve to this year's hardest hit stocks. Joining us to break it down is Yahoo Finance's Alexandra Semenova. And the hardest hit stocks, are we talking about tech here?

ALEXANDRA SEMENOVA: Yeah, well, obviously, stocks are lagging to start the week, but we did see that nice summer rally last week that renewed some optimism about what the second half of the year might bring. And of course, it did raise the question about whether this is another bear market rally. Many have pointed out that what was different about last week's rally is how broad-based the gains have been.

But what is particularly notable is that some of the hardest hit sectors were the ones that saw the sharpest rebound. Tech, for example led gains in some of the recent trading sessions after the NASDAQ, obviously, logged its worst first half of the year on record, and some of the high flying names as well that have been badly beaten by this year's route.

Coinbase, Peloton were up 25% during that rally as of Thursday. So we're really seeing a reversal of some of the pain that investors have been experiencing. Energy, on the other hand, which was the only sector in the S&P 500 in the positive, was ironically the only negative one during last week's rally. So, somewhat of a 180 there.

BRIAN CHEUNG: So, naturally, the question is, have we reached the bottom yet? Are there signs that maybe the worst is over, actually?

ALEXANDRA SEMENOVA: Well, history is certainly giving investors reason for optimism. Trends have shown that the worst hit sectors during bear markets are usually the first on the way back up. But many strategists have pointed out that things haven't fundamentally changed last week. We are still facing the same economic issues that we have been. Investors are grappling with inflation, with the Fed, with the possibility of a recession. And as long as that hasn't changed then, there's reason to believe that we're not out of the woods just yet.

BRIAN CHEUNG: All right, Yahoo Finance's Alexandra Semenova, thanks so much for the breakdown there. Appreciate it.