Surface Calm in the S&P 500 Masks a Spate of Blowups
- Equal-weight index trails regular one by most this year
- Large-cap stocks pull away from small, mid-cap peers
Aberdeen's Bassett Sees Rotation Into Small-Cap Stocks
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On the surface, it was another up week for the S&P 500 Index. Underneath, things were a little more complicated.
Consider a version of the S&P 500 that strips out market-value biases -- the “equal-weight S&P,” in which Apple Inc. matters as much as relative pipsqueaks like Garmin Ltd. and Macy’s. Analysts normally like to see the two indexes moving together, a sign the rising market is lifting all boats.