01-13-2017, 12:02 AM
The financials sector led the stock market to new highs after President-elect Donald Trump won the election, on optimism that fewer regulations and higher interest rates would benefit banks. Goldman Sachs' gain in the month after the election made up one-third of the points that the Dow Jones Industrial Average increased by. But Wall Street's so-called smart money — hedge funds and other large money managers — are pulling out of the sector as Trump prepares to take office in 10 days.