Being Broad-Minded Pays Off in Narrow Markets: John Authers

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Is Narrow Breadth Bad Breadth?

Tech stocks are back with a vengeance after their dreadful 2022, and have helped lift the Nasdaq 100 higher by a whopping 31% so far this year. They’ve also given enough of a lift to the S&P 500, the world’s most followed index, that it has now twice closed above 4,200, a level that for nine months appeared to be a ceiling. That milestone has given cheer to many. But does it matter that this has been achieved by only a handful of ...