There are two huge lessons in today’s market.
First, here’s a look at SPY (the S&P 500 ETF) vs. EFA (the foreign big caps ETF). The US is outperforming nicely.
And domestically, the homebuilder ETF XHB is outperforming the broader US market.
So here’s XHB vs. SPY:
So the lessons are: The US is outperforming the rest of the world, and within the US, the optimism is really centered around housing.