A broad base of stocks has driven the market’s recent gains, an encouraging sign for investors wondering how long the year’s formidable rally can continue.
The S&P 500 has risen 25% in 2021 and last week notched its 66th record close of the year—more new highs than in any year since 1995. Recent gains have come from a diverse array of stocks. Last week saw record closes from dozens of names, ranging from Estee Lauder Cos. and AutoZone Inc., to Netflix Inc. and Home Depot Inc.