This marks the widest monthly gap since May 2023, reflecting how a narrow group of stocks is shouldering the market's returns in the last month of the year.As of Dec.17, only 90 out of 500 stocks in the S&P 500 are in positive territory month-to-date, a shockingly narrow market breadth.Excluding Nvidia Corp.(NASDAQ:NVDA), all of the Magnificent Seven stocks — Apple Inc.(NASDAQ:AAPL), Microsoft Corp.(NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Amazon.com Inc.(NASDAQ:AMZN), Meta Platforms Inc.(NASDAQ:META), and Tesla Inc.(NASDAQ:TSLA) — have posted gains this month.If Broadcom Inc.(NASDAQ:AVGO), which recently surpassed the $1 trillion market-cap threshold, is added to the mix, an equal-weighted portfolio of these eight stocks has already delivered a ...
The performance gap between the cap-weighted S&P 500 — tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — and its equal-weighted sibling, the Invesco S&P 500 Equal Weight ETF (NYSE:RSP), has blown out to over 4 percentage points in December.
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