Is the Bull Market In Stocks Finally Broadening?

The Magnificent-7 stocks have been leading the charge of the current bull market that started on October 12, 2022. They are all in the Nasdaq 100, which is up 117.9% so far since the start of the bull market, beating all the other major US stock market indexes (chart).

The Mag-7's market capitalization share of the S&P 500 has doubled during the current bull market from 16% to 32% (chart). The stock market has indeed become more concentrated, but that doesn't mean that the rest of the market has languished. The S&P 493, the S&P 400 MidCaps, and the S&P 600 SmallCaps have had impressive gains too, just not as impressive as the Mag-7 and the Nasdaq 100.