here is today’s market rotation,
We again saw some major sector rotation on Wall Street yesterday. In general, the more economically sensitive sectors, led by the basic materials group, were the big winners. The consumer discretionary stocks also were very much in favor, with a strong report on existing home sales lifting the fortunes of the housing-related categories, most notably the stocks of the home furnishing companies. A better-than-expected quarterly report from discount retailer Dollar Tree (DLTR) also helped the consumer discretionary stocks. That said, not all was good yesterday, as we saw significant selling in the healthcare space, as President-elect Trump continued to reiterate that one of his first priorities when he takes office will be to repeal the Affordable Care Act. A repeal of the act or even an altered version would probably hurt the businesses of the hospitals, the managed care providers, and the medical supplies companies. Within the healthcare space, the stocks of the medical suppliers were under notable pressure. Disappointing quarterly results and reduced earnings guidance from medical device maker Medtronic (MDT) also weighed on the healthcare group.
