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The Tell: Tech sector contributed all of the stock market gains so far in 2018

Much like last year, the equity markets’ story of 2018 was, and still is, the one of FAANGs — high-flying large technology companies.

While the broader markets still have not regained their January highs, finishing the first half of the year with low single-digit returns, glamourous technology stocks soared.

In fact, if it weren’t for technology and some consumer discretionary stocks, the market would be in negative territory.

Read:Tech is responsible for nearly all of the market’s 2018 advance—despite Facebook’s stock woes

The S&P 500 SPX, +0.31% six months into 2018, is up less than 2% and all of those gains are thanks to a rally in just two sectors: technology and consumer discretionary.

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