Shares of industrial and transportation companies fell, following a strong run in November.
"The 'American exceptionalism' trade is gaining momentum, driven by the potential return of "America First" policies under Trump 2.0," said strategists at brokerage Bank of America Global Research. U.S. manufacturers, who stand to benefit from protectionist policies, have been particularly strong.
The SPDR Select Sector Industrials exchange-traded fund, which tracks the industrials group of the S&P 500 and includes many domestic manufacturers, has risen by more than 6% in the month since the U.S. election and is up 16% in the last six months.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-03-24 1752ET
