Market Minutes Audiocast: When S&P 500 gains are concentrated within a few sectors
SPEAKER: Welcome to Market Minutes, an audiocast to help you stay informed on key topics likely to affect markets, the economy, and investors. Today's topic is when S&P 500 gains are concentrated within only a few sectors. Here's Chief Investment Officer Eric Freedman. 
ERIC FREEDMAN: One of the hallmarks of the most recent uplift in stocks has been a very, very narrow leadership market, meaning it has not been a broad based rise. It's been really driven by technology and consumer discretionary. Two of the sectors that did very poorly last year have actually done very, very well so far this year. 
So I think what that means for investors is that we need to see for us to get more excited about the opportunity for the market to push up and remain and sustain and higher levels. What's likely behind that or what we think was likely to have to happen is more broad participation at the sector level. When you have such a narrow leadership market, particularly in growth sectors, that, we think, is less healthy than a more balanced type of rally. So those are things we're paying attention to. 
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