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Which sectors has been the biggest winners since the Trump victory? Industrials and Financials.
Which sector got beat up the most on Thursday? You guessed it...Industrials and Financials.
These groups ran up too much too fast after the election. Thus, there is excess premium that has to be drained out before they become more attractive investments. Adding to clarity will be early earnings results from flurry of financial giants on Friday: BAC, JPM and WFC. Industrial bellwethers are still 1-2 weeks away.
My guess is that they can't possibly match up to the current lofty expectations thus more pounds of flesh will be extracted. And in the midst of their tumble is when I hope to swoop in and buy the top sector names at more attractive levels. You may want to consider doing the same.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
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Two recent beats along with some strong earnings estimates revisions and an excellent valuation make this stock a candidate for Zacks Stocks Under $10 Investor! Read More »
This stock has been tumbling over the last year. A few earnings misses and a steep decline in estimates are the culprits for this stock being a Zacks Rank #5 (Strong Sell). Read More »
Which sectors has been the biggest winners since the Trump victory? Industrials and Financials.
