Oil-related ETFs have paced the pack over the last week with massive gains over the weekend thanks to additional cuts agreed by non-OPEC countries. Spain, Italy, and Mexico all continue to move higher, while small cap US equities (especially Value) have surged. Biotech, bonds, and gold miners are the worst performers over the past week, while aerospace and defense stocks (most of all Lockheed-Martin, LMT) plunged thanks to a negative tweet about the cost of the F-35 program from the President Elect.
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