The S&P 500 has added ~$7.2 trillion in market cap in its rally this year.
— The Kobeissi Letter (@KobeissiLetter) September 23, 2023
However, the top 20 largest stocks have accounted for $6.1 trillion of that gain.
This means that the top 20 stocks in the S&P 500 have accounted for 85% of the index's gains.
Meanwhile, 5 stocks… pic.twitter.com/ZiLOdzj2Jk
News of the day 6/23/2026
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