'High beta' stocks are jumping on stimulus hopes — Here are the top performers

Signage is displayed outside a Halliburton Co. location in Port Fourchon, Louisiana, U.S., on Thursday, Feb. 8, 2018. 
Luke Sharett | Bloomberg | Getty Images

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Investors are piling into the so-called high beta stocks to take advantage of the market rebound on hopes for a new stimulus deal before the election.

Beta refers to a stock's tendency to rise or fall along with the broad market. Stocks with a high beta tend to move up more than the market on a positive day, and vice-versa.

The Invesco S&P 500 High Beta ETF (SPHB), which tracks the 100 highest beta stocks in the S&P 500, jumped 1.6% on Tuesday, on pace for its best day since October 8.

The ETF contains a number of beaten-down names and economically sensitive industries such as regional banks, consumer discretionary and energy. Here are the stocks leading the way.