Equities
Tech’s Slump Camouflages a Rally Sweeping Across Most of S&P 500
- About three-quarters of SPX is trading 20% or more above lows
- Broad rebound is masked by megacaps like Apple and Microsoft
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The S&P 500 is technically still mired in a bear market, but a closer look below the surface shows that most of its stocks are in the midst of a big rally.
While the benchmark is down 17% from its record high set on Jan. 3, 2022, about three-quarters of the stocks in the index are up 20% or more from their 52-week lows, according to data compiled by Bloomberg. Among the standouts are Wynn Resorts and Boeing Co., which have both surged more than 60% in the past three months alone.