If you believe that the stock market is indeed an efficient forecasting mechanism for the state of the economy, then you would be inclined to believe that the U.S. economy is in the early stages of economic expansion.
This conclusion is based on the fact that the three top performing S&P 500 industry sectors, as of December 30, 2009, are industry sectors that usually lead the market at the beginning of an expansion in the economy.
Does the stock market have it right?
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