This Time, Bounce in U.S. Stocks Goes Unmatched in Rest of WorldBy
U.S. markets are going it alone as the post-election advance in the S&P 500 Index has failed to lift most of its peers around the world.
That’s rare in a bull market where global benchmarks mostly rallied in unison over the past five years. While the S&P 500 has added 5 percent since Nov. 8, an MSCI Index of developed world markets outside the U.S. is up 1.4 percent and stocks have fallen in developing countries, Asia and Latin America.
“Since the election it’s been all about growth in the U.S., and growth is just not existent around the world,” Mark Kepner, managing director and equity trader at Themis Trading LLC in Chatham, New Jersey, said by phone. “All this is based on what we’re expecting and if that takes longer or doesn’t happen, you’re going to have a lot come out of this market.”