Summary
On Monday, we attempted to label this phase of the rally and our conclusion was that two or three trade days do not make a trend. But we might have to look at this from another angle and label it a “Trump Trade.” To that end, we reviewed the sectors and individual stocks that did the best in the six months after Donald Trump was elected in 2016. The S&P 500 sectors that performed the best were Financial (XLF), Industrial (XLI), Materials (XLB), Consumer Discretionary (XLY), Energy (XLE), and select stocks in Information Technology (XLK). Some of the individual large-cap stocks that did the best were DE, CAT, X, GS, BAC, JPM, XOM, LMT, AAPL, RTX, GD, JNJ, GM, MRK, BMY, PFE, BA, F, GOOGL, MSFT, META, INTC, ABBV, AMZN, and TSLA. Interestingly, XLE, XLF, and XLI were the three best-performing sectors on Monday. While the major indices all rose on Monday, the S&P 500, Nasdaq, and Nasdaq 100 (QQQ) saw a pretty good selloff after peaking late in the morning. All three were up about 1% in the morning, gave it all back late in the day, and then popped over the last 10 minutes. Meanwhile, the Russell 2000 small caps held on to most of their 2% gain. The S&P 400 M
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