As we forecast (in spite of the widely unanticipated outcome and unsettled issues for some) the passing of election day and the hope of a vaccine – an optimistic view appears to have filled the greatest vacuum of uncertainty for the markets.
US stocks launched skyward.
Technology rocketed up almost 13%
Large Cap Growth was not far behind at +12%
Mid Cap Growth was the third largest performer up 9.59%
All others reached gains from 2.0% -8.37%
Foreign stocks responded similarly
Foreign Large Growth +8.69%
Foreign Small Cap + 6.55%
Emerging Markets + 6.7%
“Risker” Bonds even reached a full boil
Corporate High Yield advanced 2.14%
Emerging Market Bonds turned up 2.6%
Foreign Bonds were up 2.05%
Overall, the Market is happy to have the biggest and potentially most game changing questions for legislation put to rest. Uncertainty down 95%!
Have a great weekend!
Indexes are listed in respective order to their reference above: DJ Industrial Average TR USD, S&P 500 TR, DJ US TSM Large Cap Growth TR USD, NASDAQ 100, Technology NTTR TR USD, DJ US Health Care TR USD, DJ US TSM Large Cap Value TR USD, DJ US TSM Mid Cap Growth TR USD, DJ US TSM Mid Cap Value TR USD, DJ US TSM Small Cap Growth TR USD, DJ US TSM Small Cap Value TR USD, FTSE NAREIT All Equity REITs TR, DJ Gbl Ex US Select REIT TR USD, Bloomberg Commodity TR USD, MSCI EAFE NR USD, MSCI EAFE Growth NR USD, MSCI EAFE Value NR USD, MSCI EAFE Small Cap NR USD, MSCI EM NR USD, BBgBarc US Corporate High Yield TR USD, FTSE WGBI NonUSD USD, JPM EMBI Plus TR USD, BBgBarc US Govt 1-3 Yr TR USD, ICE BoafAML 1-3Y US Corp TR USD, BBgBarc Intermediate Treasury TR USD, BBgBarc Interm Corp TR, BBgBarc US Treasury US TIPS TR USD. These materials have been prepared solely for informational purposes based upon data generally available to the public from sources believed to be reliable. All performance references are to benchmark indexes. Performance of specific funds will vary from respective benchmarks. Past performance is not an assurance of future results. Each index cited is provided to illustrate market trends for various asset classes. It is not possible to invest directly in an index. Neither do Indexes reflect individual investor costs, e.g. trading, expense ratios & potential advisory fee.