Goldman Sachs responsible for massive chunk of ‘Trump rally’ in stocks

The stock market has gone on quite a tear since the election of Donald Trump. In fact, the colloquial name for the recent surge in the market is the “Trump rally.”

One company has stood above the rest during this “Trump rally,” however.

As noted by market veteran Art Cashin, the director of floor operations at UBS and long-time trading veteran, Goldman Sachs, one of the 30 stocks making up the Dow Jones Industrial Average index, has been responsible for a huge amount of the increase in that index.

From Cashin’s daily commentary on Wednesday:

“The Dow closed up 35 points and almost 23 of those points came from Goldman Sachs (GS). In fact, our good friend and fellow trading veteran, Jim Brown, at Option Investor, points out that GS has rallied US$57 since the election. That means that GS has provided 441 of the 1,363 points that the Dow has rallied. In case your calculator batteries are dead, that’s about one third of the rally, all due to Goldman.”

In fact, the recent jump for Goldman has put the stock at an all-time high.