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Torrent of Cash Flowing to U.S. Stocks Abandons Lockstep Moves

  • Variation in sector returns jumps to bull-market high
  • Investors add $14 billion to S&P 500 ETF in five sessions
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Stocks Disperse Most Since 2009 After Election

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Donald Trump’s election has caused the biggest dispersion among U.S. equities in almost eight years. Professional stock pickers couldn’t be happier.

Lockstep moves on the equities markets have been torn asunder while investors pour in cash as they dissect the potential implications from Trump policies. The Dow Jones Industrial Average and Russell 2000 Index have roared to records since his election, while technology-heavy indexes had slumped. In the S&P 500, the financial group’s 10 percent surge through Monday outpaced the worst-performing group -- utilities -- by almost 17 percentage points, a degree of divergence last seen in April 2009.