S&P Dow Jones Indices examines how the 2026 rally is broadening beyond mega cap AI leaders into smaller stocks and more sectors. More than 60% of S&P 500 members beat the index in June and July, while equal weight technology outperformed its cap weighted counterpart by 19% YTD.
Broadening the Base
S&P Global
Anu Ganti
Research
29 Pages
Key Takeaways
Breadth expands: More than 60% of S&P 500 stocks beat the index in June and July, coinciding with equal weight outperformance in both months.
Smaller tech leads: The S&P 500 Equal Weight Information Technology Index outperformed its cap weighted counterpart by 19% YTD as participation spread to smaller companies.
Earnings broaden: Roughly 85% of reporting S&P 500 companies beat Q2 earnings estimates, matching Q1 and broadening winners across Health Care, Industrials and Real Estate.
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