According to Zhitong Finance, analysts at Piper Sandler listed the stocks with the highest increase in standard deviation in their &#34;Portfolio Strategy&#34; report. Overall, the S&amp;P 500 Index has risen by 14.5% year to date. The outstanding performance in the first half of this year ranks third in the past 25 years, only behind the first half of 2019 and the first half of 2023.
However, despite the strong performance of large-cap stocks - undoubtedly driving the market higher, most U.S. stocks are still falling. Although the S&amp;P 500 Index hit new highs in the second quarter, in addition to Tesla (TSLA.US), the &#34;Magnificent Seven&#34; stocks also reached historic highs, but only 25% of stocks hit new highs.
Analyst Michael Kantrowitz wrote: &#34;The narrow rise is the result of lingering macro risks (i.e., the higher the interest rate, the longer the interest rate) and differentiated profit backgrounds, with only large-cap stocks showing strong profit performance.&#34;
The current market breadth is as low as it was in 2000, but the relative performance of some stocks has seen extreme increases. Among the S&amp;P 1500 Index components, stocks with relative annual performance of 2 standard deviations or more include Qualcomm (QCOM.US), Micron Technology (MU.US), AT&amp;T (T.US), Arista Networks (ANET.US), Amphenol (APH.US), Fidelity National Information Services (FIS.US), Vistra (VST.US), Western Digital (WDC.US), GoDaddy (GDDY.US), Domino's Pizza (DPZ.US), NRG Energy (NRG.US), WestRock (WRK.US), Gap (GPS), Sprouts Farmers Market Inc. (SFM.US), Jackson Financial Inc. Class A (JXN.US), ACI Worldwide (ACIW.US), Brinker International (EAT.US), StepStone Group (STEP.US), Mercury General (MCY.US), Minerals Technologies Inc. (MTX.US), Telephone and Data Systems (TDS.US), Hawkins (HWKN.US), MillerKnoll Inc. (MLKN.US), National Healthcare Corp. (NHC.US), QuinStreet (QNST.US), Phibro Animal Health (PAHC.US)

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The narrow rally in the US stock market is extreme, with only a few stocks surging besides the tech giants. The S&P 500 index has risen by 14.5% this year, but most of the US stock market is still declining. Analysts point out that macro risks and differentiated profit backgrounds are the reasons for the low market breadth, with only large-cap stocks showing strong profit performance. Some stocks have shown extremely high relative performance. Among them, stocks such as Qualcomm, Micron Tech, and AT&T have performed well in the past year

- Piper Sandler's analysts listed stocks with the highest returns measured by standard deviation in their "Portfolio Strategy" report. The S&P 500 index has risen by 14.5% year-to-date, marking one of the best performances in the past 25 years, trailing only behind the first halves of 2019 and 2023. Despite the strong performance of large-cap stocks driving the market up, most U.S. stocks are still in decline.
- While the S&P 500 index hit new highs in the second quarter, along with stocks like Tesla, only 25% of stocks reached historic highs. Analyst Michael Kantrowitz noted that the narrow rally is a result of persistent macro risks and diverging profit backgrounds, with only large-cap stocks showing strong earnings performance. The market breadth is currently as low as in 2000, with some stocks exhibiting extreme gains in relative performance.
- Stocks in the S&P 1500 index with relative annual performance at 2 standard deviations or above include Qualcomm, Micron Technology, AT&T, Arista Networks, Anixter International, Fidelity National Information Services, Vistra, Western Digital, GoDaddy, Domino's Pizza, NRG Energy, WestRock, Gap, Sprouts Farmers Market Inc., Jackson Financial Inc. Class A, ACI Worldwide, Brinker International, StepStone Group, Mercury General, Minerals Technologies Inc., Telephone and Data Systems, Hawkins, MillerKnoll Inc., National Healthcare Corp., QuinStreet, and Phibro Animal Health.

Zhitong

Narrow surge in US stocks! In addition to tech giants, only these few stocks are also soaring