Record Stock Market Fueled by Dubious AI Assumptions

This month, as indices set new records, only four massive technology firms added more market value than the rest of the S&P 500 combined.

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A brief period of outperformance by smaller stocks appears to have petered out.

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Nvidia, Microsoft, Apple, and Alphabet have together added more than US$1.4 trillion this month, outperforming the other 296 equities that advanced.

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Just one firm, chipmaker Nvidia, accounted for half of the rise.

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The advances in the top equities this month and year are driven by AI and higher-for-longer interest rates.

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Record Stock Market Fueled by Dubious AI Assumptions

This month, as indices set new records, only four massive technology firms added more market value than the rest of the S&P 500 combined.

A brief period of outperformance by smaller stocks appears to have petered out.

Nvidia, Microsoft, Apple, and Alphabet have together added more than US$1.4 trillion this month, outperforming the other 296 equities that advanced.

Just one firm, chipmaker Nvidia, accounted for half of the rise.

The advances in the top equities this month and year are driven by AI and higher-for-longer interest rates.

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