Stocks have rallied since the U.S. presidential election, with major indexes advancing two weeks in a row through Friday. “The market’s been ripping since the election,” said Bill Costello, portfolio manager at Westwood Holdings Group.
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite climbed toward a trifecta of closing records Monday as commodity prices gained.
Stocks have rallied since the U.S. presidential election, with major indexes advancing two weeks in a row through Friday. Investors have piled into banks, health-care stocks and industrials on bets that President-elect Donald Trump would loosen regulation and boost infrastructure spending. At the same time, they’ve pulled back from Treasurys and stock-market bond proxies, which are less attractive to investors when interest rates rise.
Financials led much of the charge, accounting for 73% of the S&P 500’s postelection gains through Friday, according to S&P Dow Jones Indices. Five stocks — Wells Fargo,…
