Merry, happy, joyful, and jolly are just some of the adjectives used to describe this time of year. We hope your holiday season has been merry, happy, joyful and jolly so far. It sure has been for stock investors. The fun started more than a year ago on October 12, 2022 when the bear market bottomed. It has been a powerful bull market since then. Consider the following:
(1) Here is the performance derby since the start of the bull market for the S&P 500 and its 11 sectors: Information Technology (65.9%), Communication Services (53.5), Industrials (33.6), S&P 500 (32.9), Consumer Discretionary (29.9), Materials (25.3), Financials (23.6), Real Estate (17.3), Health Care (10.8), Consumer Staples (7.0), Energy (5.3), and Utilities (1.9). Awesome, indeed!
(2) The bull market has been led by the MegaCap-8, but it has been broadening since it bottomed on October 27 of this year from the correction selloff that started on July 31 (chart).
