Energy, financials lead S&P 500 sectors higher, after being worst performers since Trump’s inauguration

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The energy sector was soaring Monday, to pace all of the S&P 500’s 11 sectors in gains, as positive news on a potential COVID-19 vaccine sent crude oil prices higher. The next best performer was the financial sector, as the vaccine candidate news boosted hopes of a quicker economic rebound. But other than just the vaccine news, investors may not be so worried about what a Joe Biden presidency might mean for the energy and financial industries, given that those sectors have been the worst performers during Donald Trump’s presidency. The SPDR Energy Select Sector ETF was the only SPDR sector ETF to decline since Trump’s inauguration through Friday, tumbling 61.2% during that time while the S&P 500 climbed 54.5%, despite investor hopes that a Trump administration would be boon for the fossil fuel industry. That ETF was soaring 15.2% in midday trading Monday. The next worst performer during Trump’s inauguration was the SPDR Financial Select Sector ETF , which rose just 7.8% during that time; the ETF is now up 8.9%. The SPDR Real Estate Select Sector ETF was up 5.6% to be the third-best performer on Monday; concidentally, the XLRE was the third-worst performer since Trump’s inauguration, as it increased 15.3% during that time.
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