Market Recap for Monday, October 2, 2017
It was another record day on Wall Street. The Dow Jones, S&P 500, NASDAQ and Russell 2000 all closed at fresh all-time highs. Wide participation is a hallmark of a bull market rally and, make no mistake, there's been wide participation on this rally. The only disappointment on Monday was the NASDAQ 100's ($NDX) inability to join the party. Key large cap technology names did not participate and that held back the NDX. Materials (XLB, +1.09%), healthcare (XLV, +1.02%) and financials (XLF, +0.85%) led the rally and that leaderboard helps to explain the lack of participation of the NDX as it has no components in the materials sector and only a few financials - all in financial administration.