Stock Market Update

[BRIEFING.COM] There is a lot of movement in the stock market today and just about all of it is tied to the election result. One group moving more than others is the small-cap stocks.

The Russell 2000 is up a whopping 4.7% (it had been up 5.2%), getting an extra jolt from its financial and energy components. In general, the outperformance of the Russell 2000, which is comprised of companies that derive most, if not all, of their revenue from the United States, is a reflection of investors' belief that the policies enacted under a Trump administration will be pro-growth policies.

Time will tell how political platforms translate into real results, but there is no mistaking that the stock market's first impression of what is to come is a favorable one.

Separately, mid-cap stocks are also outperforming most of their large-cap counterparts. The S&P Midcap 400 Index is up 3.1%.