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: