November's enormous market rally was largely fueled by just 3 stocks

(Image credit: Drew Angerer/Getty Images)

published 14 December 2016

Since Donald Trump's surprise victory on Nov. 8, the stock market has been on a tear. In the month immediately following the election, the Dow Jones industrial average jumped up an impressive 1,200 points. But just three stocks were responsible for nearly half of that rally, CNBC reports: Goldman Sachs, UnitedHealth, and Caterpillar.

Goldman Sachs' 26.5 percent rally added about 320 points to the Dow, UnitedHealth's 15.7 percent climb added some 150 points, and Caterpillar's 17.3 percent spike added another 95 points. These three, along with JPMorgan, were the month's top performers, but CNBC suggests their Dow contributions could be "oversized": All four have high share prices, and in a price-weighted index, that means their rallies affect the Dow's overall performance more than good or bad runs by companies with less costly shares.