As earnings season winds down, a notable trend has emerged in the markets: several mega-cap stocks have underperformed year-to-date (YTD). In contrast, several mid-to-large cap stocks with strong retail followings have delivered superior returns. This shift in market dynamics is significant, given the influence of mega-cap stocks on major indices and exchange-traded funds (ETFs).
While market breadth has improved in 2024, gains have been more evenly distributed across multiple sectors, a stark contrast to previous years where the technology sector led the market higher.
