Market Commentary

Since the election, stocks have rallied, but there has been a significant change in the industry sectors that are leading the market. Financials and industrials are now bringing strength. Note that over half the gain in the Dow since the election is from just four stocks: GS, JPM, CAT, and UNH. These are stocks with high prices, so it has an extra impact on the Dow. Small stocks which are more US-centric have also rallied strongly. All indicies closed at record highs Dec. 8th.