Still think this is an 'isolated', low-breadth rally?
- “The S&P 500 Equal Weighted Index SP500EW […] and S&P 500 each advanced 3.1% this month, according to FactSet data.”
- The equal weight index is up 9.7% YTD, while the S&P 500 is up 20% YTD. [Still some catching up to do]
- S&P Equal Weight vs S&P 500 since 2022
- S&P 500 versus Russel 2000 since 2022.
- Finviz 1 month returns: nearly every sector thriving, barring some weakness in healthcare.
- Finviz YTD returns. Weakness more pronounced in energy and healthcare.
- Finviz YTD returns across the globe.
- VXUS is up 3.5% in July and 11.9% YTD
S&P 500 Sectors in July using Marketwatch Data:
- Energy: +7.3%
- Communications sector: +6.7%
- Financials +4.7%
- Materials: +3.4%
- Industrials +2.9%
- Information Technology: +2.6%
- Consumer discretionary: +2.4%
- Utilities: +2.4%
- Consumer Staples: +2%
- Real Estate: +1.2%
- Healthcare: +0.9%
(I manually checked Healthcare, Real Estate, Consumer Staples, Utilities, and Materials. The other sectors I took from the linked article below)
This website lists the YTD price performance of stocks in the S&P 500, so not including dividends.
Number of stocks in the S&P 500 over ___ YTD:
- 20% YTD: 128
- 30% YTD: 75
- 40% YTD: 47
- 50% YTD: 27
- 60% YTD: 15
About 172 stocks have a possibly negative YTD price return (again, excluding dividends). 328 are positive YTD.
Upshot: No, this is not a rally being driven by 7 stocks anymore. All sectors are starting to catch a bid, especially ones beaten down in 2023 like energy and financials. Even as Europe and China teeter on recession, we're seeing international stocks also rally.
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