An Uneven Rally: A Handful of Big Tech Companies Account for Half of S&P Gains

With mega-IPOs—SpaceX, Anthropic, and OpenAI—possibly on the horizon, the tech-fueled concentration could intensify.

The New York Stock Exchange in New York City on April 4, 2025. Samira Bouaou/The Epoch Times

The S&P 500 crossed 7,400 for the first time, powered by a fresh surge in tech stocks, leading to questions of how sustainable this is for Wall Street.

Investors have shrugged off major headwinds, including the Iranian conflict, rising energy costs, private credit headaches, and a potential Federal Reserve interest rate hike.