Recent U.S. consumer inflation data ease concerns around the unwinding of stimulus, as the data was softer than expected. Portfolio manager John Roth joins us to put this data into perspective and discuss what he sees in the markets. John says earnings were 15% higher than expected in the most recent earnings season. He notes that financials, materials, and energy have been the strongest sectors, but he believes their growth rates will decrease. John comments on the positioning of his fund, Fidelity U.S. All Cap Fund. He says he tends to be more overweight mid-cap and small-cap relative to the S&P 500. John also discusses mining, electric vehicles, and the energy sector. He notes that with mining, you want exposure to copper and that there are environmental pressures on where to mine.

Recorded on August 11, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_roth_us_opps_across_mkt_caps_08112021.pdf