00:00It's Benzinga, bringing Wall Street to Main Street.
00:02As the bull market stretches on, the Wall Street rally is heavily concentrated in the technology and communication sectors.
00:09In a Thursday post on X, the Kobe S.E. letter, citing data, revealed that technology stocks are driving historic
00:16market gains, followed by the communication services.
00:19The information technology sector has led since the bull market began on October 12, 2022, returning 225.7%, while the
00:29communication services sector soared 212.3%.
00:33Both sectors surpassed the S&P 500 gains by more than 100 percentage points.
00:39The 10 largest U.S. stocks now make up a record 41% of the S&P 500's market cap,
00:46surpassing concentration levels seen at the 2000.com bubble peak by 14 percentage points.
00:52The letter noted that the market cannot thrive without tech.
00:55For all things money, visit Benzinga.com.
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