The S&P 500 has edged higher in September, but three-quarters of its component stocks fell during the month, according to MarketWatch. The index remains about 1% below its record high, and the gap between the headline number and the broader market has become a talking point on Wall Street.
September has reminded investors that the S&P 500 is heavily weighted at the top. Three-quarters of the index's component stocks were down for the month, even as the benchmark itself rose slightly.
That split has become a key topic of discussion on Wall Street. Many worry that the index's strength — which sits about 1% below its record high — is unsustainable given that the market for stocks is actually declining.
Source: MarketWatch (snippet-based)
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