at +49% YoY in Q4 (chart below, left bar). Another trend we’re seeing is that, while the Mag 7 remain a key driver of earnings, the rest of the S&P 500 and Nasdaq-100 are playing bigger roles ...

The S&P 500's concentration and Nasdaq 100's valuation levels are reminiscent of past bubbles, raising skepticism about current market conditions. Despite positive earnings, especially from major ...