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S&P 500 Dregs Stage Uprising in Bull Market That Now Makes Sense

  • Cyclical shares with high beta beating defensives in rally
  • How the 14-month dry spell that just ended compares with past
Bloomberg business news

Stocks Climb Toward Fresh Record: Can the Rally Last?

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From last week’s confluence of record highs to rebounding growth stocks, there’s a lot to like in a market as hated as this one.

No longer are low-volatility stocks the leaders. Nor are utilities, or companies that sell toothpaste and handsoap. Nary a defensive share is rallying as leadership in the S&P 500 Index switches from the dividend-paying bond surrogates that ruled 2015 to technology, banks and commodity firms that benefit from an expanding economy.