Cyclical sector rally banks on global economic expansion
September's stock action  which also included outsized gains for small-cap stocks  had echoes of the immediate aftermath of  President Donald Trump 's election in November 2016.
The same areas showed strength on hopes that a Republican-led federal government would push through an agenda  including tax cuts and deregulation  that juices economic growth. Those trades faded as  Trump  struggled to rack up any significant legislative wins.
Now  investors say  September's stock rally for those groups again stemmed at least in part from policy hopes  as  Trump  revved up  his  tax-reform push.
“In many ways  we began to replicate the market performance following  Trump ’s election ” said Quincy Krosby  chief market strategist at Prudential Financial in Newark  New Jersey.
September's stock action  which also included outsized gains for small-cap stocks  had echoes of the immediate aftermath of  President [TGT] 's election in November 2016.
The same areas showed strength on hopes that a Republican-led federal government would push through an agenda  including tax cuts and deregulation  that juices economic growth. Those trades faded as  Trump  struggled to rack up any significant legislative wins.
Now  investors say  September's stock rally for those groups again stemmed at least in part from policy hopes  as  Trump  revved up  his  tax-reform push.
“In many ways  we began to replicate the market performance following  Trump ’s election ” said Quincy Krosby  chief market strategist at Prudential Financial in Newark  New Jersey.