The S&P 500 has surged 14.3% since the beginning of September, but the dollar has plummeted 7% as well. Yet it’s not as if this dollar drop has been missed by the market.
S&P 500 companies with the majority of their sales coming from abroad have outperformed their domestic-focused counterparts by over 7%, according to data from Bespoke Investment Group. Considering the dollar drop, U.S.-focused companies have only increased about 3% in non-dollar terms.
(Chart via Bespoke Investment Group)