The market’s benchmark index is no longer headed for a record today–but it could still make history for all the wrong reasons.
The S&P 500 began the session around 6300, on track for a record close. However, it reversed course and has vacillated between small losses and gains for most of the day. The index is getting pulled higher by a small set of stocks–448 are down–most of which belong in the Information Technology sector.
If the S&P ends up closing even with a small gain, it would be the second time in 30 years it does that with a pull from less than 90 stocks, or a narrow breadth.