As the bull market stretches on, the Wall Street rally is heavily concentrated in the technology and communication sectors.
Technology Remains A Backbone In a Thursday post on X, The Kobeissi Letter, citing data, revealed that technology stocks are driving historic market gains, followed by the communication services.
The Information Technology sector has led since the bull market began on October 12, 2022, returning 225.7%, while the Communication Services sector soared 212.3%.
Both sectors surpassed the S&P 500 gains by "more than 100 percentage points".
The broad market index has delivered returns of 107% in the same time frame.
