Trump rally: Hottest sectors since Election Day
The Trump stock market rally shows no signs of weakening, especially for some key sectors that have continued to pop since the president was elected.
Major market indexes are all up: The S&P 500 has gained more than 30%, while the Dow Jones Industrial Average is up nearly 36% and the Nasdaq Composite 49%.
But some sectors have fared better than others during the late stages of this prolonged economic expansion. In the 610 days since Election Day – Nov. 8, 2016 – the aerospace and defense sector has jumped nearly 55%, the most of any S&P sector.
Trump has placed an outsized emphasis on boosting the nation’s military through increased defense spending, proposing a defense bill worth more than $700 billion for fiscal year 2019.
Health care providers have received the second-biggest "Trump bump" since the election, up more than 47% as of Wednesday. The sector is up 35% since Inauguration Day, Jan. 20, 2017.
In the 600-plus days since the election, the financial sector has risen by 36%, as the administration continues to push its deregulatory agenda. Some Wall Street firms also received a bump thanks to the Tax Cuts and Jobs Act, which lowered the corporate tax rate to 21% from 35%. Since the inauguration, the financial sector is about 18% higher.
On the other hand, the consumer staples sector has been largely unchanged overall since Election Day, up just 0.01% as of Wednesday. The energy sector is up 12% during the same timeframe.