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The broadening of the stock market rally fell by the wayside as the index reached record levels last month.
Just six large tech stocks contributed to more than 75% of the S&P 500's gain in May, a move reminiscent of how the "Magnificent Seven" tech stocks drove the market rally in 2023.
Rises in Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), and Nvidia (NVDA) helped the S&P 500 (^GSPC) to its best May since 2003.
"We're seeing a relatively narrow market, a...
>>> Read more: The stock market took a narrow road to record highs last month
Just six large tech stocks contributed to more than 75% of the S&P 500's gain in May, a move reminiscent of how the "Magnificent Seven" tech stocks drove the market rally in 2023.
Rises in Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), and Nvidia (NVDA) helped the S&P 500 (^GSPC) to its best May since 2003.
"We're seeing a relatively narrow market, a...
>>> Read more: The stock market took a narrow road to record highs last month
