The State of the Stock Market

The S&P 500 closed at an all-time high on Friday for the 15th time this year.
This market’s strength is impressive, considering that of the top 5 stocks by market cap, none are at all-time highs. Only two of them, Google and Microsoft, hit that mark over the last two months. Apple, the biggest stock in the world, is 16% below its peak in January.
If you break the S&P 500 into deciles by market cap, you can s…

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