Rally on despite markets being powered to records by a handful of very large stocks, says David Kostin, Goldman Sachs chief U.S. equity strategist.
Goldman’s research shows that five stocks have accounted for 51% of the S&P 500’s return since the end of April. Those five stocks — Microsoft, Google, Apple, Nvidia and Tesla — account for more than one-third of the S&P 500s 26% return this year.
While this has unfolded among these household name tech giants, Kostin points to narrowing…
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