Feb 05 2021 During January the ASX200 ended the month virtually where it started with consumer discretionary and banks the standout sectors -The ASX made gains of 0.3% in January -Value outperformed growth -FY21 expected to deliver 9.5%-plus earnings growth -Policy and vaccine evolution underscore positive growth outlook By Mark Story Early to mid-January, stock market trading was dominated by returning optimism towards reflation and cyclically-led rotation opportunities. Following the US Georgia run-off election outcomes, US share markets hit record highs on the prospect of the Democrats winning both Senate seats. Half way through the month, US President-elect Joe Biden announced a US$1.9trn economic stimulus package. US Federal Reserve chairman Jerome Powell also stated that the accommodative monetary policy stance would remain intact until the job was well and truly done.