Technology Stocks: Richard Nixon and Bill Clinton

technology stocks: Weakness in technology stocks and a handful of defensive industries that soared in the first half held the S&P 500 Index gain to roughly a fifth of the Dow s, according to Bloomberg. The surge in stocks following a presidential election echoed 1996 and 1972, when the blue-chip index made fresh highs just after victories by Bill Clinton and Richard Nixon. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; On the upside were financial shares, perceived beneficiaries should Trump make good on threats to dismantle the Dodd-Frank Act, as well as industrial and materials stocks in anticipation of infrastructure spending. Consider that the 30-stock gauge 218-point ascent Thursday happened the same day the Nasdaq 100 Index dropped the most since September, their biggest divergence since the internet bubble burst. Along with technology shares, pain was felt in high-dividend industries such as household product makers, utilities and phone companies as bond yields surged. Corporations feel there a less restrictive hand. People are going through the possibilities about what Washington looks like today and what Washington can do or not do for them, said John Manley, who helps oversee about 233 billion as chief equity strategist for Wells Fargo Funds Management in New York. (news.financializer.com). As reported in the news.