The S&P 500 has notably been lifted by stocks listed in Technology and Communication Services sectors. Both of these sectors combined account for over 30% of the S&P 500’s total market capitalization and are large constituents in the NASDAQ 100.
Most of the major equity markets ended the first calendar quarter of the year with double digit percentage gains. Much of last year’s losses have been put in the past. What’s more, popularly followed indexes are closing in on last year’s all-time highs. Those that abandoned stocks at the end of 2018 have surely missed out on a fast, yet sizeable market rebound.