The rally of 2025 stock market markets is not just about the “Magnificent 7”

Almost half of the companies in the S&P 500 (^GSPC) exceeds the index to start the year, a strong reversal from the past two years of close market leadership Where investors had difficulty finding winners outside of large capital technology.

About a month and a half in 2025, 46% of companies in the S&P 500 exceed the index itself, about around 30% over the past two years, which has been the lowest percentage of outperformers since the late 1990s.

Only two of the shares that surpass the S&P 500 come from the “Great seven” Tech cohort with meta (META) increasing more than 23% and nvidia ((Nvda) Almost 6% Pop -Depa of the return of around 4% for the benchmark index this year.

Strategists believe that an environment in which more shares compete to exceed the index that remains all year round. David Kostin, Chief Equity strategy from Goldman Sachs, recently wrote in a reference to customers that the current market is “microg-driven”, which means that company-specific details influence more than broad factors.

This creates the equity pickers that will find the Benchmark Index 2025, the opportunity for stock pickers. Kostin listed a healthy economic growth environment, the continued expansion of the AI ​​a wide range of returns between individual shares.

Kostin’s team pointed out The sale in connection with the growing popularity of the Chinese AI company Deepseek As an example of the growing division between shares. Nvidia (Nvda))) The stocks fell by 17% during the saleBut Apple and Meta, together with software KI, plays like Salesforce (CRM), ended the day higher because investors argued that companies that use the AI ​​software could benefit from cheaper AI solutions.

“Ultimately, the market reaction was rather demanding than indiscriminately, since the shares moved to the new information after their individual exposure and not in harmony,” Kostin wrote.

Despite the continuing uncertainty of collective bargaining policy and caution of investors before the view of interest reductions in the Federal Reserve, the stocks have remained resilient this year. All 11 sectors in the S&P 500 are positive a year. And investors have shifted which stocks they buy and expanded beyond the great seven. The information technology, which houses several great seven technical names, is one of only three sectors that remain the S&P 500 this year. Meanwhile financial data (XLF), Materials (XLB) and energy (Xle) belong to the top performances.

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