Fidelity believes we are currently in the mid-to-late stage of the business cycle, which has tended to be positive for the energy, industrials, materials, and communications (formerly telecom) sectors.
*With respect to federal taxation only. Contributions, investment earnings, and distributions may or may not be subject to state taxation.
Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please readCharacteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
There may be additional transaction costs in option strategies that call for multiple purchases and sales of options, such as spreads, straddles, and collars.
Because of its narrow focus, sector investing tends to be more volatile than investments that diversify across many sectors and companies. Sector investing is also subject to the additional risks associated with its particular industry.
Fidelity does not provide legal or tax advice and the information provided above is general in nature and should not be considered legal or tax advice. Consult with an attorney or tax professional regarding your specific legal or tax situation.
Past performance is no guarantee of future results.
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Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
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