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Why everything is working during this latest rally to records and whether it can last


Is this the “all-in” economy?

The rally in the last week and a half has been broad and powerful.

Everything is moving. The iShares S&P Value ETF (IVE) is at an historic high, but so is the iShares S&P Growth ETF (IVW). Cyclical stocks (those that benefit most from a recovering economy) like transports are at new highs, but even defensive sectors like health care and consumer staples are at or near new highs.

Perhaps most confusing: The “reopening play” — stocks that would benefit from the reopening of the U.S. (and global) economy — are at new highs, but so are the “stay at home” stocks — stocks that benefit when people work from home and buy things for their home:

Goldman Sachs, Starbucks among organizations unveiling a pledge to close racial wealth gap in U.S.

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