http://www.fidelityadviser.com/Press_Room.aspThe news wire from the source you can trustpress_release21.aspAfter the Enron scandal, many utility stocks took a beating, especially those who emulated Enron’s strategy of buying non-utility firms such as energy traders. In 2002 and 2003, the industry pulled back to basics, divested non-utility companies and focused on core businesses. Balance sheets improved, utilities became flush with cash, and investors liked what they saw.press_release_gold.aspInvestors are focusing a great deal of their attention towards Exxon (NYSE:XOM), Google (NasdaqNM:GOOG), and Ishares Japan (AMEX:EWJ). However, Gold futures are at 25-year high. Are typical investors actually benefiting from the steady nine-month long increase in the value of the precious metal?  press_release_etf.aspIn terms of interest rates, the markets have been bracing for an end to Alan Greenspan’s era at the Federal Reserve, leadership that has lasted over 18 years. On Tuesday, he passed his rate-commanding baton to Ben Bernanke, but not before raising the benchmark rate for the 14th consecutive time. Bernanke is largely expected to take the baton and run with it for just one more rate hike, provided the economy and housing markets show continued signs of cooling. The accompanying statement gave additional hope that the end of higher and higher interest rates, indeed, was in sight, but the stock market sold off while contemplating what Bernanke’s first six months might look like. The futures market, for its part, is indicating a 70 percent chance that the benchmark Fed funds rate will rise to 4.75 percent at its next meeting on March 28.pr_transportation.aspThe Railway Industry has experienced tremendous growth in recent years.  Much of this growth can be attributed to rising transportation prices that have been bolstered by rising energy costs and increasing demand to move coal, a material that railroads are uniquely outfitted to ship.  In 2005, wagon orders were the highest for seven years, at 80793 units. Deliveries totalled 68687, according to figures complied by the Railway Supply Institute.  Also, short line carload traffic increased by 7.1 percent in the first 39 weeks of 2005 over the same period in 2004.
 
To subscribe visit: http://store.fidelityindependentadviser.com/etf1yr.htmlpr_telecom.aspWhile Younger invests more of the fund’s assets in diversified telecom stocks than many of his peers (40.4% as of Nov. 30, 2005), he also holds large stakes in wireless services stocks (32.4%, led by Sprint Nextel) and communications equipment stocks (27%, led by Nortel and Nokia).pr_select_profile.aspPerformance:
2005   29.9%
2004   12.9%
2003   36.5%
2002   -17.2%pr_reit.aspSome REIT analysts argue that conditions for real-estate investment companies actually will improve during the next year-plus. They say that strong pricing power for certain types of REITs, particularly owners of malls and industrial buildings, is likely to help boost earnings across the industry in the high single digits during each of the next two years. Meanwhile, certain technical factors may increase demand for REIT stocks. For example, Bear Stearns REIT analyst Ross Smotrich points out that most European money managers are creating global REIT funds, many of which devote around half of their assets to U.S. REITs—money that’s poised to jump into the market.
Smotrich expects the sector to generate gains of between 10% and 12% in 2006, as earnings growth and consolidation justify the stocks’ high valuations. He especially likes shares of mall REITs, which declined in the fall due to investor concerns about flagging consumer demand. He’s cautious about office REITs, which he believes trade at expensive valuations and will have difficulty generating earnings growth.pr_psi.aspMonday was not a good day for semiconductor stocks. When a UBS analyst said chipmakers likely wouldn’t increase spending in the second half of 2006, the Philadelphia Semiconductor Index (SOX) fell nearly a percentage point on the day and chip stocks pulled the NASDAQ into negative territory.pr_ps_dynamic.aspWhen the dust cleared, PTE had gained 1% on the day. That return marks just the latest jump for this fund, which benefited during early 2006 from a reinvigorated telecommunications sector. The sector’s rally began with wireless firms: Behemoths including Qualcomm, Motorola, Nokia and Sony Ericsson all reported booming fourth quarter numbers, while wireless service providers Verizon Wireless and Cingular signed up a combined record of 3.8 million customers, or 8 per minute. pr_ntf.aspWhile the success of industrial materials industry is important, it only makes up 30 percent of Fidelity Independent Advisor’s Non-Fidelity Specific NTF Sector Portfolio.  The portfolio is invested heavily in the telecom & utilities industries as well.  As February 17, 2006 the ICON Telecom and Utilities fund was up 6.59 percent.  The major gainers in this fund’s portfolio include South American utility and telecommunications companies.  While the fund is anchored to domestics markets with larger companies like AT&T (NYSE: T) and Bellsouth (NYSE:BLS), 51.9 percent of the underlying assets in the portfolio are invested in foreign stocks.  Expectations for foreign markets are brightening.  Recently, the IMF (International Monetary Fund) has made a number of positive predictions for emerging markets like Latin America and Eastern Asia.pr_nfsteg.aspFidelity International Index FSIIXpr_latinamerica.aspAnother past concern for Latin American financial markets has been the documentation of inadequate creditor rights.  As outlined by (Galindo and Micco 2003), creditor rights produce an environment that facilitates the existence and development of deep debt markets.  Without such markets, a deadweight loss is incurred by both the creditor and the debtor.  pr_ishares_china.aspChina is hot. The world’s fastest growing economy, with annual GDP expansion in the 10% range, has opened its doors to more foreign investors. Their money is pouring in, helping to pump up what’s been a lagging stock market despite the country’s explosive growth.pr_growth_income.aspAdditionally, the three other funds included in the portfolio have had impressive results as well.  Fidelity Equity Income (FEQIX) has had a 9.50% annualized return over the past ten years, and it is oriented toward large cap value companies.  The High Income (SPHIX) is a fund comprised of 346 different bonds with an annualized ten year return of 5.96%.  The High Income (SPHIX) fund serves as a major pillar of diversification for the portfolio.  The Value (FDVLX) fund includes a mix between madcap value and growth companies that has had an annualized ten year return of 12.18%.
 
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pr_goldman_sachs.aspLike Broadcom, Marvell Technology has a diverse customer base, with chips for a variety of products. That mix, in high-growth areas such as game consoles, helped the stock gain 74.3% for the period.