U.S. equities and S&P 500 related exchange traded funds are nearing record highs yet again as consumer cyclical stocks help support the gains.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were up 0.50% Wednesday.
U.S. stocks have enjoyed a strong rally since Donald Trump’s November election win as the President-elect promised a number of expansionary economic policies, such as cutting taxes, curbing regulations and raising fiscal spending, to help stimulate growth.
However, the equities market remained in a sideways trend over the past few weeks as investors evaluate whether or not the markets can maintain its momentum in face of high valuations and a tightening Federal Reserve.