00:02NVIDIA is nearing a $6 trillion valuation as major indexes hit records, but Rosenberg
00:07research founder David Rosenberg warned that weak market breadth is masking pain across
00:11the broader market.
00:12Speaking on CNBC Tuesday, Rosenberg said the average S&P 500 stock entered the week about
00:1820 percent, below its 52-week high, while the median stock was down 17 percent.
00:23He said gains have become increasingly concentrated in a small group of AI-linked companies, including
00:29hyperscalers and semiconductor firms.
00:31Citing Merrill Lynch strategist Bob Farrell, Rosenberg said healthy markets are typically supported
00:37by broad participation across stocks.
00:39In September, the cap-weighted S&P 500 gained 0.2 percent, while its equal-weight version
00:45fell 4.4 percent, according to MarketWatch.
00:48Rosenberg said sentiment could shift when investors begin questioning whether future revenues justify
00:53AI spending, with weaker company guidance potentially serving as the signal.
00:57For all things money, visit Benzinga.com.
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